Nevada provides Edgewood Renewables $11.7 million in tax abatements
Nevada Gov. Joe Lombardo and the Nevada Governor’s Office of Economic Development approved in late January more than $11.7 million in tax abatements for Edgewood Renewables LLC.
Edgewood Renewables plans to establish a biorefinery, manufacturing and distribution facility in Clark County, Nevada.
Last June, Edgewood Renewables won the bid to acquire the bankrupt Ryze Renewables project in Clark County, located at the former Biodiesel of Las Vegas plant site and scaled at approximately 43 million gallons per year (mgy).
According to court documents, Edgewood Renewables purchased the assets for $36.5 million.
The Nevada governor’s office and Edgewood Renewables’ website states that Edgewood is in the process of constructing a biorefinery on the site that will produce more than 120 mgy of renewable diesel and sustainable aviation fuel.
Last July, U.S. Energy signed a long-term agreement with Edgewood Renewables to operate a rail transload facility and refined-products bulk plant in northern Las Vegas, Nevada.
“Edgewood has acquired a fuel terminal in Las Vegas, Nevada, and has partnered with U.S. Energy as the terminal operator,” Edgewood Renewables’ website states.
According to the governor’s office, the company will make $96.5 million in capital equipment investment in the first two years of operation and generate $21.6 million in new tax revenues over the 10-year abatement period.
The plant will be feedstock agnostic, Edgewood Renewables stated, with the ability to process waste agricultural oils, fats and greases.
Engineering, procurement and construction (EPC) services for the project are being provided by Stellar J.
In addition to partnering with U.S. Energy, Stellar J and the city of North Las Vegas, Edgewood Renewables is also working with Kestrel Engineering Group, Stancil & Co. and RenewalytiX.