Nevada approves tax abatements for proposed renewable diesel, SAF project
SOURCE: Nevada Governor’s Office of Economic Development
February 2, 2024
BY Erin Voegele
Nevada Gov. Joe Lombardo and the Nevada Governor’s Office of Economic Development on Jan. 25 approved $11.72 million in tax abatements for a 120 MMgy renewable diesel and sustainable aviation fuel (SAF) project under development by Edgewood Renewables LLC.
According to the governor’s office, Edgewood Renewables plans to establish a biorefinery, manufacturing and distribution facility in Clark County, Nevada, near Las Vegas. The announcement indicates that the biorefinery under construction by Edgewood is expected to create 60 jobs in the first two years of operation at an average weighted hourly wage of $40.71. The company plans to make a $69.51 million capital equipment investment in the first two years of operation and generate $21.62 million in tax revenues over the 10-year abatement period.
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Documentation published by the Nevada Governor’s Office of Economic Development includes a Dec. 2023 letter written by Edgewood Renewables indicating the company is developing a plan to purchase, repurpose and construct an incomplete renewable fuel production facility together with an adjacent product terminal located in North Las Vegas. Construction on the facility is expected to commence in the third quarter of 2024, with commercial production and operations expected to commence in the fourth quarter of 2025, according to the letter.
Edgewood Renewables in June 2023 acquired the assets of Ryze Renewables via a bankruptcy auction, according to court documents. As reported by Biodiesel Magazine in 2021, Ryze Renewables had proposed to build a 100 MMgy biorefinery at the site of the former Biodiesel of Las Vegas facility. Ryze Renewables filed a voluntary petition for Chapter 11 bankruptcy with the U.S. Bankruptcy Court for the District of Delaware in March 2023. Company assets were sold via an auction several months later.
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Information published by the Nevada Governor’s Office of Economic Development shows the auction purchase included all of the assets of Ryze Renewables, including real estate located at 5225/5233 El Campo Grand Ave in Las Vegas, prefabricated refinery equipment, technology licenses for feedstock conversion into renewable diesel and SAF, and environmental and operating permits.
Also in mid-2023, Edgewood Renewables signed an agreement with U.S. Energy to operate a rail transload facility and refined products bulk plant in Clark County near the site of the proposed biorefinery.
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