NDC Creates New Markets Tax Credit Package to Convert Steam Boiler to Biomass

SEATTLE, Wash. - NDC today announced the closing of a $32 million New Markets Tax Credit (NMTC) deal that will allow Seattle Steam, a privately-owned district heating utility, to convert its boiler from natural gas to biomass.

Through the NDC’s ties to the federal NMTC initiative, Seattle Steam secured the necessary private investment to move the project forward, enabling the utility to fully fund the waste wood-fired boiler conversion and access additional working capital. (more…)