Aemetis Achieves Major Project Milestone by Receiving Authority To Construct Permits for ‘Carbon Zero’ Renewable Fuels Pl...
29 April 2021 - 10:00PM
via NewMediaWire ‒
Aemetis, Inc. (NASDAQ: AMTX), a renewable
natural gas and renewable fuels company focused on negative carbon
intensity products, announced that the company has received
nineteen permits granting the Authority To Construct (ATC) from the
San Joaquin Valley Air Pollution Control District related to the
Aemetis ‘Carbon Zero’ renewable fuels project in Riverbank,
California. Each permit states a specific set of equipment
and the conditions for operation of each unit.
“The Authority To Construct air permits are a significant
permitting milestone for the construction of the Aemetis renewable
fuels biorefinery at the 142-acre Riverbank Industrial Complex,”
stated Eric McAfee, Chairman and CEO of Aemetis. “The
engineering, application and review process required several years
of work by our technical team with the support of several
environmental consultants. The collaborative, supportive
approach taken by the regional air district enabled this process to
move forward at a steady pace,” added McAfee.
“We are thankful to the staff at the San Joaquin Valley APCD for
their diligent and professional work,” McAfee said. “We can
now begin the fabrication of equipment by vendors and expand our
project team to ramp up the construction process, creating more
than $200 million of planned investment and employment in the
Central Valley as we build and operate the biorefinery.”
The Carbon Zero biorefinery is scheduled to be completed and
begin operations in year 2023, then double production capacity by
year 2025.
The project is supported by $17 million of grant funding from
the California Energy Commission and the California Alternative
Energy and Advanced Transportation Financing Authority
(CAEATFA).
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable
natural gas, renewable fuel and biochemicals company focused on the
acquisition, development and commercialization of innovative
technologies that replace petroleum-based products and reduce
greenhouse gas emissions. Founded in 2006, Aemetis has completed
Phase 1 and is expanding a California biogas digester network and
pipeline system to convert dairy waste gas into Renewable Natural
Gas (RNG). Aemetis owns and operates a 65 million gallon per
year ethanol production facility in California’s Central Valley
near Modesto that supplies about 80 dairies with animal feed.
Aemetis also owns and operates a 50 million gallon per year
production facility on the East Coast of India producing high
quality distilled biodiesel and refined glycerin for customers in
India and Europe. Aemetis is developing the Carbon Zero
renewable jet and diesel fuel integrated biorefineries in
California to utilize distillers corn oil and other renewable oils
to produce low carbon intensity renewable jet and diesel fuel using
cellulosic hydrogen from waste orchard and forest wood, while
pre-extracting cellulosic sugars from the waste wood to be
processed into high value cellulosic ethanol at the Keyes
plant. Aemetis holds a portfolio of patents and related
technology licenses to produce 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 construction and operation of the
biorefinery in Riverbank, California, our compliance with
governmental programs, and the ability to access markets and
funding to execute our business plan. Words or phrases such
as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,”
“expects,” “intends,” “plans,” “predicts,” “projects,” “showing
signs,” “targets,” “view,” “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, including our Annual
Report on Form 10-K for the year ended December 31, 2020 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 SmithPCG
Advisory Group(646) 863-6519ksmith@pcgadvisory.com
Company Contact:Todd WaltzChief Financial Officer(408)
213-0925twaltz@aemetis.com
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