Aemetis Signs 10-Year Supply Agreement for 450 Million Gallons of Renewable Diesel with Industry-Leading Travel Stop Company
18 December 2021 - 12:00AM
via NewMediaWire --
Aemetis, Inc. (NASDAQ: AMTX), a
renewable fuels company focused on negative carbon intensity
products, has signed a 10-year, 450-million-gallon renewable diesel
supply agreement with an industry-leading travel stop company,
which is expected to generate more than $3 billion in revenue.
Renewable diesel is a drop-in fuel that significantly reduces
greenhouse gases and other emissions from heavy duty vehicles that
would otherwise use petroleum diesel.
The renewable diesel to be supplied under the agreement will
fuel an estimated 3.6 billion miles of heavy truck and cargo
transportation.
The travel stop company is continuing its strategy to diversify
its fueling operations. Renewable diesel provides environmental
benefits and performance enhancements compared to petroleum
diesel.
“This supply agreement represents the largest supply contract
signed by Aemetis for our Riverbank Carbon Zero Plant,” said Eric
McAfee, the Founder, Chairman and CEO of Aemetis. “Combined with
$2.1 billion of signed sustainable aviation fuel contracts, we have
now signed more than $5 billion of binding offtake contracts
related to the Riverbank production facility and also have MOU’s
signed with seven airlines for additional contracts.”
The 90 million gallon per year Aemetis Carbon Zero
sustainable aviation fuel and renewable diesel plant under
development in two phases in Riverbank, California is designed to
produce below zero carbon intensity renewable fuels. The
design utilizes cellulosic hydrogen from waste forest and orchard
wood along with onsite CO2 carbon sequestration and zero
carbon intensity hydroelectric electricity. The demand
for renewable diesel has increased as a result of policies
including the California Low Carbon Fuel Standards and the federal
Renewable Fuel Standard that require reductions in carbon emissions
from transportation.
The Aemetis Carbon Zero plant is being built on the 125-acre
former US Army Ammunition plant in Riverbank, California. The
industrial site has 710,000 s.f. of existing production and office
buildings, a 125-car railroad with ladder tracks, and a 22 megawatt
power substation with high capacity power lines delivering
hydroelectric power to the site.
About Aemetis
Aemetis has a mission to transform renewable energy with below
zero carbon intensity transportation fuels. Aemetis has launched
the Carbon Zero production process to decarbonize the
transportation sector using today's infrastructure.
Aemetis Carbon Zero products include zero-carbon fuels that can
"drop-in" to be used in airplanes, truck, and ship fleets. Aemetis
low-carbon fuels have substantially reduced carbon intensity
compared to standard petroleum fossil-based fuels across their
lifecycle.
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 Sustainable Aviation
Fuel (SAF) and renewable diesel fuel biorefineries in California
from renewable oils along with orchard and forest waste. Aemetis
holds a portfolio of patents and exclusive 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 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 development and construction of the
sustainable aviation and renewable diesel fuel projects, our
compliance with governmental programs, and our 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 RelationsContact:Kirin SmithPCG
Advisory Group(646) 863-6519ksmith@pcgadvisory.com
Company Investor Relations/Media Contact:Todd
Waltz(408) 213-0940investors@aemetis.com
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