Darling Ingredients Inc. Announces Diamond Green Diesel Receives Approval of Excise Tax Registration

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Rhea-AI Summary

Darling Ingredients (NYSE: DAR) announced that Diamond Green Diesel (DGD), its 50/50 joint venture, has received Excise Tax Registration approval from the Internal Revenue Service. This registration is a key requirement for claiming the Internal Revenue Code 45Z credit. The company's CEO, Randall C. Stuewe, highlighted this as the first step toward monetizing the 45Z Producer's Tax Credit and expressed optimism about forthcoming guidance regarding 45Z.

Positive

Obtained IRS Excise Tax Registration approval, enabling eligibility for 45Z tax credits
Positioned to monetize Producer's Tax Credit through 45Z program

Negative

None.

News Market Reaction – DAR

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+2.04% News Effect

On the day this news was published, DAR gained 2.04%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

12/10/2024 - 08:00 AM

IRVING, Texas, Dec. 10, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today announced that its 50/50 joint venture Diamond Green Diesel (DGD) received approval of its Excise Tax Registration from the Internal Revenue Service. Registration is one of the requirements for a taxpayer to be eligible to claim the Internal Revenue Code 45Z credit.

"Obtaining the excise tax registration is the first step in our ability to monetize the 45Z Producer's Tax Credit," said Randall C. Stuewe, Chairman and Chief Executive Officer. "We are extremely encouraged by the registration and look forward to guidance concerning 45Z being released in the near future."

Learn more about our renewable diesel and SAF production at DGD at darlingii.com/DGD.

About Darling Ingredients
A pioneer in circularity, Darling Ingredients Inc. (NYSE: DAR) takes material from the animal agriculture and food industries, and transforms them into valuable ingredients that nourish people, feed animals and crops, and fuel the world with renewable energy. The company operates over 260 facilities in more than 15 countries and processes about 15% of the world's animal agricultural by-products, produces about 30% of the world's collagen (both gelatin and hydrolyzed collagen), and is one of the largest producers of renewable energy. To learn more, visit darlingii.com. Follow us on LinkedIn.

Darling Ingredients Contacts

Media:	Jillian Fleming
	Director, Global Communications
	(972) 541-7115; jillian.fleming@darlingii.com

Investors:	Suann Guthrie
	Senior VP, Investor Relations, Sustainability & Communications
	(469) 214-8202; suann.guthrie@darlingii.com

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SOURCE Darling Ingredients Inc.

FAQ

What tax registration did Diamond Green Diesel (DAR) receive in December 2023?

Diamond Green Diesel received approval of its Excise Tax Registration from the Internal Revenue Service, which is required to claim the Internal Revenue Code 45Z credit.

How will the IRS Excise Tax Registration benefit Darling Ingredients (DAR)?

The registration enables Darling Ingredients to become eligible to claim and monetize the Internal Revenue Code 45Z Producer's Tax Credit through its Diamond Green Diesel joint venture.