Darling Ingredients to sell $125 million in production tax credits

Darling Ingredients announced Sept. 29 an agreement to sell approximately $125 million of production tax credits to a corporate buyer.

These credits were generated under the Inflation Reduction Act by the company’s Diamond Green Diesel joint venture.

Diamond Green Diesel is a 50/50 joint venture between Darling Ingredients and Valero.

With capacity to produce more than 1.2 billion gallons annually, Diamond Green Diesel is one of the world’s largest producers of renewable diesel and sustainable aviation fuel (SAF).

The proceeds of the sale are scheduled to be received later this year upon satisfaction of certain funding conditions.

The company is also actively marketing the sale of additional tax credits generated in 2025.

Darling Ingredients operates over 260 facilities in more than 15 countries and processes about 15 percent of the world’s animal agricultural byproducts.