06:05 AM EDT, 09/06/2024 (MT Newswires) -- (Updates with Bank of America ( BAC ) and Harvestone confirmation.)

Bank of America ( BAC ) closed $205 million tax equity financing with Harvestone Low Carbon Partners, the latter said Thursday.

The transaction is related to Harvestone's Blue Flint Ethanol unit and associated Blue Flint companies near Underwood, North Dakota, Harvestone added.

Bank of America ( BAC ) participated in the 45Q federal tax credits through tax equity funding that was structured by Harvestone.

Blue Flint Ethanol and its associates capture, and generate biogenic carbon dioxide, Harvestone said.

"Over the term of the tax equity deal $205M is the estimated amount of value of the transaction of credits," a Harvestone spokesperson quoted Chief Executive Jeff Zueger as saying, in an email to MT Newswires.

Bank of America ( BAC ) referred MT Newswires to Harvestone's news.

Harvestone is planning two more carbon-capture projects in Indiana and North Dakota, The Wall Street Journal reported Thursday.

Price: 40.10, Change: -0.04, Percent Change: -0.10