May 25, 2023
Aemetis Resumes Operations at 65 MGY California Biofuel Plant after Completing Extensive Maintenance and Upgrades
Ethanol Plant Also Produces High Protein Animal Feed for 100,000 Local Dairy Cows; CO2 for Food and Beverage Industry; Distillers Corn Oil for Poultry Feed
CUPERTINO, Calif. – May 25, 2023 – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, announced today the re-start of production at the 65 million gallon per year capacity Keyes, California ethanol plant after completing the most extensive maintenance and system upgrades in the 12 years of facility operations.
“The Keyes plant has a history of high uptime and consistent production, with only one scheduled maintenance day annually for nearly a decade. When natural gas prices reached historic highs several months ago, we made the strategic decision to idle operations and undertake an extensive cleanout, repair, and system upgrade cycle to install important technology upgrades,” said Eric McAfee, Chairman and CEO of Aemetis, Inc. “The significant investments made at the plant include an entirely new Allen Bradley Decision Control System (DCS) with more than 1,100 sensor connections installed across the facility to enhance the automation of operations and enable Artificial Intelligence (AI) management of energy use. The DCS system and other future mechanical upgrades will directly reduce the carbon intensity of biofuels produced by the Keyes plant, while reducing carbon pollution and improving local air quality in the Central Valley.
“The system upgrades also support the operation of the Aemetis Biogas network, including the 40-mile biogas pipeline; seven operating digesters; the central RNG production facility and PG&E gas utility interconnection located at the Keyes plant,” stated Andy Foster, President of Aemetis Biogas, LLC. “These upgrades will seamlessly integrate operation of the 30 additional diary biogas digesters in Stanislaus and Merced Counties that are under construction or in development and will be connected to our pipeline for processing of biogas into RNG injected into the utility gas pipeline for use as transportation fuel.”
Energy efficiency, zero carbon solar energy, electric ethanol dehydration, and DCS system upgrades to the Aemetis Keyes biofuels plant are supported by $16.7 million of grants awarded to Aemetis by the California Energy Commission and Pacific Gas & Electric.
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 is expanding a California dairy biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that has supplied 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 sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil, refined tallow and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using renewable hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. 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 re-start of the Keyes biofuels plant, development and construction of the Aemetis biogas project, expected greenhouse gas emission reductions from Aemetis projects, and our ability to finance, permit, develop and deploy technologies to produce renewable fuels and biochemicals. 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, 2022 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.