Project to Produce Below Zero Carbon Intensity RNG for Transportation Markets and High Grade Alcohol Production
CUPERTINO, CA – August 21, 2020 – Aemetis, Inc. (NASDAQ: AMTX) announced today the completion of construction of the first two dairy digesters and four mile pipeline for the production of renewable natural gas (RNG) to supply below-zero carbon intensity RNG to displace petroleum based natural gas used at the Keyes ethanol production facility, and to provide fuel for RNG trucks and buses.
“Aemetis is implementing multiple system upgrades and expansion projects related to our 65 million gallon per year renewable fuel and high grade alcohol plant, all of which reduce carbon intensity (CI) and input costs while increasing revenues,” said Eric McAfee, Chairman and CEO of Aemetis. “Our Aemetis Biogas team is now rapidly building systems to capture and convert methane from dairy lagoons into negative carbon intensity RNG transportation fuel. After capturing and processing biogas from the anaerobic dairy digesters, we will pipeline the upgraded gas to our plant in Keyes, CA where it will be available for use as energy to produce transportation fuel and high grade alcohol, and in the first half of 2021, inject the RNG into the common carrier pipeline and dispense RNG fuel to truck fleets at our onsite CNG loading station,” added McAfee.
Aemetis is currently commissioning Phase I of the Central Dairy Digester Project. After Phase I of the project is operational, construction will begin on the additional 15 dairies that have signed agreements with Aemetis and approximately 30 miles of private pipeline.
Headquartered in Cupertino, California, Aemetis is an advanced renewable fuel 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 65 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 and Europe. Aemetis is building a biogas anaerobic digester network and pipeline to convert dairy animal waste gas to Renewable Natural Gas (RNG) and is developing a plant to convert waste orchard wood into cellulosic ethanol. Aemetis 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 construction and operation of the dairy digester and pipeline project in Central California, and the ability to access markets and funding to execute our biogas business plan. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue”, “enable” 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.