CUPERTINO, Calif. – March 24, 2015 – Aemetis, Inc. (NASDAQ: AMTX), an advanced renewable fuels and biochemicals company, today announced the appointment of Satya Chillara as Vice President of Corporate Development, effective March 21, 2015.
Mr. Chillara brings to Aemetis over 24 years of experience in the cleantech and semiconductor industries and on Wall Street. During his 14 year career on Wall Street, Mr. Chillara served as a Managing Director and Equity Research Analyst working for several investment banks and hedge funds. He was ranked #3 out of 53 analysts in the Wall Street Journal’s survey of Semiconductor Equity Analysts in 2003.
During his 10 years in industry, Mr. Chillara was a member of the management team that took ChipPAC public, a Hyundai spinoff. ChipPAC was eventually sold to STATS at a $1.6 billion valuation. At ChipPAC, Mr. Chillara managed a $300 million product line and was responsible for strategic marketing and corporate development activities. Mr. Chillara graduated with a M.S. in Chemical Engineering from the University of Missouri and a B.S. in Chemical Engineering from S. V. University in India. He has published numerous technical papers and stock analyst reports, and has been granted 11 patents in semiconductor packaging.
“After achieving record revenues and EBITDA in 2014, and successfully raising $17 million in 3% interest rate EB-5 funding during Q1 2015, Aemetis is accelerating growth in India and developing new products to supply rapidly growing biofuels markets,” said Eric McAfee, Chairman and Chief Executive Officer of Aemetis. “We are pleased to have Satya Chillara join us in a key role working with Wall Street, marketing our EB-5 projects, and leading marketing and public relations. He will support the continued rapid growth of Aemetis as a leader in high quality distilled biodiesel in the India market, as a leading innovator in ethanol production, and as we enter new biofuels and biochemicals markets where we believe that Aemetis has a significant technological advantage,” added McAfee.
On March 21, 2015, Mr. Chillara was awarded a nonqualified stock option to purchase 25,000 shares of common stock at an exercise price of $3.88 (the closing price of Aemetis’ common stock on March 20, 2015) pursuant to the Aemetis, Inc. Employment Inducement Stock Plan, which was approved by the Governance, Compensation and Nominating Committee of the Board on March 19, 2015. The award vests quarterly over 3 years and has a maximum term of 5 years (subject to earlier termination in connection with termination of service to the company).
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 first-generation ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, Aemetis owns and operates a 60 million gallon per year ethanol production facility in the California 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 operates a research and development laboratory at the Maryland Biotech Center, 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 regarding our growth opportunities, funds to be received under our EB-5 loan program, our ability to grow and expand our business in India and into new markets, our ability to develop and commercialize new technologies and new products, expectations for growth in markets that we currently serve and in markets that we expect to expand into, the ability of our EB-5 loan program and other relationships to support our growth and advantages provided by our technology. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “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 and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, counter-party risks, risks associated with changes to federal policy or regulation, risks associated with the conversion of the Keyes plant to the use of sorghum for ethanol production; and other risks detailed in our reports filed or to be filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2014 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.