Renewable natural gas (RNG) and biofuels producer Aemetis Inc. has closed the sale of $53 million in investment tax credits created through the Inflation Reduction Act (IRA) as a part of its first wave of projects expected to be accelerated by the legislative program.

The California-based company disclosed that it wrapped up at the end of September its first sale of transferable credits under IRA Section 48 to investors in projects like dairy farm methane digesters, a biogas pipeline and an RNG production hub.

“We believe that this $53 million tax credit sale is the largest IRA tax credit transaction in the dairy biogas industry, demonstrating the transferability of tax credits” under the federal program “and the ability of renewable fuels projects to generate funding from...