Aemetis India Plant Awarded Large Biodiesel Supply Contract in Mining Sector
20 May 2019 - 9:30PM
via NEWMEDIAWIRE –
Aemetis, Inc. (NASDAQ:
AMTX) announced today that its Universal Biofuels India subsidiary
was awarded a large ongoing supply contract for distilled biodiesel
by a multi-site mining company for use in dump trucks and other
heavy diesel equipment at mines in Southern and Central
India. Shipments have already begun to the mining customer
under the supply agreement and will be expanded to additional mines
as on-site biodiesel storage is installed.
Mining trucks and other large equipment at mines is estimated to
require more than 25 million gallons per year of biodiesel, equal
to 50% of the capacity of the India plant, as the mining supply
agreement is expanded and other mining companies adopt
biodiesel. Distilled biodiesel is a lower cost fuel than
diesel, emits 90% lower particulate emissions and significantly
reduces carbon emissions.
“With the recent completion of our India plant pretreatment unit
and expansion to 50 million gallons of capacity per year from low
cost, high free fatty acid feedstock, the Aemetis team in India is
executing on a rapid increase in production and revenues this year
by continuing to expand domestic markets, which now include mining
customers,” stated Eric McAfee, Chairman and CEO of Aemetis. “As
the only US company producing biofuels in India, Aemetis’ India
team continues to expand its market reach by winning new customers
in innovative domestic markets.”
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced
renewable fuels and biochemicals company focused on the
acquisition, development and commercialization of innovative
technologies that replace traditional petroleum-based products by
the conversion of ethanol and biodiesel plants into advanced
biorefineries. Founded in 2006, Aemetis owns and operates a
60 million gallon per year ethanol production facility in
California’s Central Valley, near Modesto. Aemetis also owns
and operates a 50 million gallon per year renewable chemical and
advanced fuel production facility on the East Coast of India
producing high quality distilled biodiesel and refined glycerin for
customers in India, the US and Europe. Aemetis is building a dairy
digester, pipeline and gas conditioning system near its plant in
California to produce below zero carbon content Renewable Natural
Gas (RNG). Aemetis operates a research and development laboratory,
and holds a portfolio of patents and related technology licenses
for the production of renewable fuels and biochemicals. For
additional information about Aemetis, please visit
www.aemetis.com.
Safe Harbor Statement
This news release contains forward-looking
statements, including statements regarding our assumptions,
projections, expectations, targets, intentions or beliefs about
future events or other statements that are not historical facts.
Forward-looking statements in this news release include, without
limitation, statements relating to the production or effectiveness
of the India production facility, the achievement of certain cost
advantages and market expansion for product produced at the India
facility, and the continuance of governmental mandates for
biodiesel. Words or phrases such as “anticipates,” “may,” “will,”
“should,” “believes,” “estimates,” “expects,” “intends,” “plans,”
“predicts,” “projects,” “showing signs,” “targets,” “will likely
result,” “will continue” or similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are based on current assumptions and predictions and are
subject to numerous risks and uncertainties. Actual results
or events could differ materially from those set forth or implied
by such forward-looking statements and related assumptions due to
certain factors, including, without limitation, competition in the
ethanol, biodiesel and other industries in which we operate,
commodity market risks including those that may result from current
weather conditions, financial market risks, customer adoption,
counter-party risks, risks associated with changes to federal
policy or regulation, and other risks detailed in our reports filed
with the Securities and Exchange Commission (the “SEC”), including
our Annual Report on Form 10-K for the year ended December 31,
2018, and in our subsequent filings with the SEC. We are not
obligated, and do not intend, to update any of these
forward-looking statements at any time unless an update is required
by applicable securities laws.
External Investor Relations
Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com
Company Investor Relations/
Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com
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