REX books $7.5M in new 45Z clean fuel credits; OBBBA extends program through 2029

Filed June 2, 2026 · Period ending April 30, 2026 · Compared to 10-Q Jun 4, 2025 · ~2 min read

Key Changes

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  REX recognized $7.5M in 45Z clean fuel production tax credits in Q1 FY2026, a new income stream enabled by Treasury's February 2026 proposed regulations. The OBBBA extended the 45Z program two years through December 2029, improving economics for carbon sequestration investments.

  MD&A: 45Z Tax Credits verify on EDGAR →
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  North Dakota court voided Summit Carbon's CO2 storage permits in March 2026, ruling the underlying law unconstitutional. This delays and may prevent completion of the sequestration project for REX's NuGen facility, which signed on to Summit's pipeline in May 2023.

  MD&A: Carbon Sequestration verify on EDGAR →
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  EPA's Class VI permit timeline for One Earth's carbon sequestration project pushed back eight months—draft permit now expected July 2026 (vs. November 2025) and final decision November 2026 (vs. April 2026). Project critical to qualifying for 45Q and 45Z credits.

  MD&A: One Earth Permitting verify on EDGAR →