The producer of the bourbon brand Jim Beam announced on Wednesday that it is taking a $400 million step toward more renewable production.

The Beam Suntory investment aims to cut greenhouse gas emissions by 50% at its factory in Kentucky, while also increasing the amount of bourbon it can produce by 50%.

"We are committed to making a difference by investing in cleaner technologies and systems," Beam Suntory President and CEO Albert Baladi said in a press release.

Jim Beam is produced from the fermentation and distillation of corn, rye, and malted barley. The project will help sustain the local agriculture involved while also accounting for a new way of creating renewable energy.

Beam Suntory is working with 3 Rivers Energy Partners, a company that specializes in designing and building renewable natural gas. A new facility is planned to convert biogas to renewable natural gas. It's expected to be finished by 2024.

"I'm so proud to be honoring our legacy as the First Family of Bourbon by leveraging this renewable energy to support our brand's trajectory for the next 225 years," Carlo Coppola, Managing Director of the James B. Beam Distilling Co. said in the release.