Cases and Deals
Deal

Blank Rome Represents rPlanet Earth in $21M NMTC Financing Transaction

Blank Rome successfully represented rPlanet Earth, a newly formed Los Angeles manufacturing company, in the first of a series of new market tax credit financing transactions (valued at $21M) with Citi Bank as the investor.

rPlanet Earth was formed to capitalize on the growing demand by global, national, and regional food and beverage companies for food-grade rPlanet Earth packaging productions. rPlanet Earth’s first manufacturing facility will produce 55 million pounds of bottle-grade rPET flake at the completion of Phase I of the Vernon, CA, build-out. Upon completion of Phase II, the plant’s capacity will double to 110 million pounds per year, making it the largest bottle-grade rPET plant in the world.

The Blank Rome team was led by Michael Sanders, with valuable assistance from Dustin Lauermann and Ross Coe.

rPlanet Earth is a Los Angeles manufacturing company, formed to capitalize on the growing demand by global, national, and regional food and beverage companies for food-grade rPlanet Earth packaging productions.