CleanBay Renewables, Inc. is an enviro-tech company aiming for the sustainable management of waste through anaerobic digestion and nutrient recovery technologies which produce renewable natural gas and controlled-release organic fertilizer. Image via Maryland.gov.
Written by Frank Lopez
A company with operations in the Central Valley has been selected to receive a tax credit from a state business incentive program.
AgLand Renewables LLC (AgLand), a subsidiary of Maryland-based CleanBay Renewables Inc., and with locations in Merced, Hanford, and Lemoore, has been selected by the Governor’s Office of Business and Economic Development (GO-Biz) to receive a $1.7 million tax credit from the California Competes program.
CleanBay Renewables, Inc. is an enviro-tech company aiming for the sustainable management of waste through anaerobic digestion and nutrient recovery technologies which produce renewable natural gas and controlled-release organic fertilizer.
With this tax credit, AgLand can begin development of multiple bioconversion facilities in California that will support the state’s economic and environmental goals. The company will deploy at least two facilities in the Central Valley over the next five years.
The proposed site locations, which are in Kings and Merced counties, were identified with support from the GO-Biz Business Investment Services team. Both facilities are projected to be fully operational by 2024.
The facilities will use anaerobic digestion, the breakdown of biodegradable material in the absence of oxygen, and fertilizer formation technology to convert poultry litter into renewable natural gas and organic, controlled-release fertilizers.
“Attracting a company like AgLand Renewables to California is exactly why the CalCompetes program was created,” said Dee Dee Myers, senior advisor to the governor and director of GO-Biz. “Not only will AgLand Renewables create well-paying jobs and economic opportunity across the Central Valley, but its solution will help us reach California’s greenhouse gas reduction goals while simultaneously supporting the Governor’s healthy soils initiative.”
By the 2025 tax year, AgLand is expecting to have a total of 38 California full-time employees.
AgLand will invest a total of $1.14 billion by the end of the 2025 tax year, according to its tax credit agreement. Its investments will include $350 million in the 2021 and 2022 tax years, $157 million for the 2023 and 2024 tax year, and $592,498 for the 2025 tax year.
The credit allocation will be split up with AgLand receiving $200,000 in 2023, $750,000 in 2024, and $750,000 in 2025.
“The projects will provide a long-term, sustainable source of renewable transportation fuels and organic fertilizers that will provide a substantial reduction in climate pollutants and improve soil health in California,” said Donal Buckley, CleanBay Renewables Inc.’s CEO. “Further, our direct investment of over $1 billion will provide much needed economic benefits to the Central Valley, creating dozens of new well-paying full-time jobs and hundreds of indirect jobs through construction and supply-chain needs.”