May 2012 marks Company’s continued focus on Production of Advanced Fuels and Renewable Chemical
CUPERTINO, Calif. – April 30, 2012 – Aemetis, Inc. (OTC: AMTX), an industrial biotechnology company producing advanced fuels and renewable chemicals using patented microbes and processes, this week celebrated the Company’s first complete year of production at the Aemetis Advanced Fuels 55 million gallon per year commercial ethanol facility in Keyes, California.
In late April of 2011, Aemetis commenced operations at the Keyes facility, and the plant has run continuously for an entire calendar year without a single down day for repairs. The plant has demonstrated consistently high level of performance in both the production and sales of ethanol and wet distillers grains. The plant has over 50 full-time employees, and is responsible for hundreds of other new indirect jobs associated with the plant.
Aemetis took possession of the facility under a project agreement and multi-year lease with Cilion in March 2010, and also arranged $8 million of financing to retrofit and restart the plant. In 2011, Aemetis was awarded a $1.88 million matching grant from the California Energy Commission to build and operate a pre-commercial cellulosic ethanol facility to accelerate the commercial deployment of the Company’s proprietary advanced ethanol technology.
“We are extremely proud of the entire Aemetis team for their outstanding performance over the past year making this plant one of the finest in the world,” said Eric McAfee, Chairman and CEO of Aemetis, Inc. “Not only do we have a world-class operating team and facility, we are extremely well positioned to leverage our technology for the next generation of renewable biofuels and chemicals,” said McAfee.