June 3, 2013
Aemetis Achieves Milestone Toward Advanced Biofuels Production at 60 MGY California Plant
CUPERTINO, Calif. – June 3, 2013 – Aemetis, Inc. (OTCQB: AMTX), an advanced fuels and renewable chemicals company, announced today that the Aemetis 60 million gallon per year Keyes, California plant had commenced the high-volume production of lower-carbon ethanol using grain sorghum feedstock and a Combined Heat & Power (CHP) system in an integrated process with traditional feedstocks.
In December 2012, the EPA approved the combined use of grain sorghum and biogas with a CHP system to produce lower-carbon biofuel to qualify as an advanced biofuel. Advanced Biofuels generate D5 Renewable Identification Numbers (RIN’s) under the Renewable Fuel Standard administered by the EPA. When EPA registration is approved, Aemetis will be permitted to produce D5-qualified advanced biofuels by procuring biogas via contract, while making no additional operational changes.
Aemetis Chairman and CEO Eric McAfee stated, “The production of advanced biofuels through the conversion of a corn ethanol facility to lower-carbon biofuels is an important milestone. Processing grain sorghum is the first step in lowering the carbon content of our fuel, with our CHP system providing the ability to utilize biogas to produce electricity at any time.”
Several government initiatives, including the federal Renewable Fuel Standard (RFS) and the California Low Carbon Fuel Standard (LCFS), seek the production of lower-carbon biofuels. Aemetis is in process with the EPA to become registered as an Advanced Biofuels Producer, after which Aemetis plans to procure biogas when market conditions are favorable to produce advanced biofuels. By successfully processing large quantities of grain sorghum while maintaining the ability to utilize traditional feedstocks, Aemetis is now positioned to produce advanced biofuels when EPA approval is granted without impacting ongoing plant operations.
“The successful conversion of the Keyes plant to a multi-feedstock facility provides greater operational flexibility and maximizes cash flow,” McAfee added.
Aemetis, Inc. is an advanced fuels and renewable chemicals company headquartered in Cupertino, California. Aemetis owns and operates a 60 million gallon renewable fuels plant in California; and built, owns and operates a 50 million gallon capacity renewable chemicals and advanced fuels production facility on the east coast of India. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds five granted patents on its Z-microbe and related technology for the production of renewable fuels and chemicals. For additional information about Aemetis, please visit www.aemetis.com.
Forward Looking Statements
The information contained herein includes forward-looking statements related to future events. Statements regarding future events are based on current expectations and are necessarily subject to associated risks related to, among other things, the ability of the company to procure and process alternative feedstocks, as well as the spread between the feedstock we purchase and the fuel and co-products we sell. Actual results may differ materially from those in the projections or other forward-looking statements made herein. For information regarding other related risks, please see the “Risk Factors” section of the company’s filings with the SEC.