#United States #Clean Energy #Salem #Tax Credits #PurposeEnergy

PurposeEnergy Enhances Clean Energy Solutions

PurposeEnergy, a key player in renewable energy, recently announced the completion of significant investment tax credit transfer transactions. This milestone marks a pivotal moment in the company's strategy to promote sustainable solutions particularly targeted at the food and beverage industry across the United States.

Under the provisions of the Inflation Reduction Act (IRA), PurposeEnergy's successful transfer of tax credits represents its first foray into this initiative, illustrating its commitment to driving down carbon emissions through innovative renewable energy projects. The IRA aims to incentivize investments in clean energy, providing valuable federal tax credits that can be transferred to support further projects.

To achieve its environmental goals, PurposeEnergy collaborates closely with notable customers such as Cabot Creamery, Vermont Hard Cider, WhistlePig, and Ben & Jerry's. These corporations are transitioning their organic waste streams to PurposeEnergy's newly established treatment facilities, thereby not only mitigating their greenhouse gas emissions but also aligning with their corporate Environmental, Social, and Governance (ESG) commitments.

The recently commissioned treatment facilities have a combined capacity of supplying over 17.5 million kilowatt-hours of green electricity annually to the local community, showcasing substantial contributions to clean energy generation and community support.

Eric Fitch, the CEO of PurposeEnergy, expressed gratitude toward all partners involved in these significant tax credit transfers. He emphasized, "We appreciate the partnerships and collaboration of everyone involved in the success of these sales tax credit transfer transactions. With our next wave of projects, we have established a foundation to facilitate more of these transactions."

Birch Risk Advisors played a crucial role in securing an investment-grade buyer, enhancing the transactions' success. Brandon Edwards, a partner at Birch, stated, "We were honored to have helped facilitate PurposeEnergy's first two tax credit transfer transactions. PurposeEnergy is doing exceptional things in this industry."

Legal representation for PurposeEnergy was handled by Fredrickson Byron, while Kutak Rock represented the buyer in this transaction.

About PurposeEnergy

PurposeEnergy is a leading U.S.-based specialist in renewable fuels and biogas solutions focused on transforming waste streams within the food and beverage sectors into sustainable energy. Over the past 15 years, the company has developed, owned, and managed numerous projects aimed at converting organic waste into biogas, which is then utilized in various industrial processes, converted to renewable electricity, or processed further into Renewable Natural Gas (RNG).

As PurposeEnergy continues to grow and innovate, it remains committed to enhancing sustainable practices and investing in projects that not only benefit businesses and consumers but also contribute positively to the environment. By leveraging the advantages provided by the IRA, PurposeEnergy is poised to accelerate its projects and broaden its impact in the clean energy sector.

For further information, please contact Christine Sununu, Brand Marketing Communications, PurposeEnergy.