CUPERTINO, CA – April 22, 2021 – Aemetis, Inc. (NASDAQ: AMTX), a leading producer of below zero carbon intensity dairy Renewable Natural Gas (RNG) and developer of the “Carbon Zero” renewable jet/diesel biorefineries using negative carbon intensity cellulosic hydrogen, announced today that Aemetis has selected Axens Vegan® Renewable Hydroprocessing technology for its “Carbon Zero 1” production plant in Riverbank, California.
The Axens scope will include technology license, basic engineering, catalyst supply, and proprietary equipment for the conversion of ultra-low carbon intensity, non-edible vegetable and other non-edible oils along with renewable cellulosic hydrogen to produce a flexible mix of sustainable aviation fuel (SAF) and renewable diesel fuel.
“The Axens technology provides high yields of jet fuel while maximizing the carbon capture and sequestration value that is unique to the Aemetis Carbon Zero 1 project,” said Eric McAfee, Chairman and CEO of Aemetis. “The experienced Axens team has been highly responsive and proactive, enabling our project to move forward on schedule and within our budget expectations. We believe that the Axens technology will provide much better overall economics while having a lower capital cost than alternative technologies for renewable jet and diesel fuel production.”
“Axens shares and is committed to support the Aemetis plan to produce ultra-low or below zero carbon liquid fuels from renewable sources. Our engagement as the technology partner for the Carbon Zero project in Riverbank, California is another example of the decades of renewable technology development, commercialization, and operational support we bring to visionaries such as the Aemetis team,” stated Romain Lemoine, VP of Process Licensing, Axens Americas.
The Aemetis “Carbon Zero 1” plant has a planned capacity of 45 million gallons per year and will be located at the 142-acre Riverbank Industrial Complex, a former US Army ammunitions plant in Riverbank, California.
Aemetis recently announced a $2 billion bid process to airlines and fuel blenders for the Carbon Zero 1 plant and is finalizing offtake agreements. Carbon Zero renewable jet and diesel fuel may be used in today’s airplane, truck, and ship fleets without changes to fueling infrastructure or engines.
Aemetis has received $17 million of grant funding from the California Energy Commission (CEC) and the California Alternative Energy and Advanced Transportation Financing Authority (CAEFTA) to support its Riverbank advanced biofuels project activities.
Axens (www.axens.net) is a group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates, as well as natural gas treatment and conversion options. The products and services offered include technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services. Axens is ideally positioned to cover the entire value chain from feasibility study to unit start-up and follow-up throughout the entire unit cycle life. This unique position ensures the highest level of performance with a reduced environmental footprint. Axens global product and services are based on highly trained human resources, modern production facilities and an extended global network for industrial, technical support & commercial services. Axens is an IFP Group company.
Axens Vegan® technology is designed to hydrotreat a wide range of lipids and to produce a flexible slate of low-density and high cetane renewable diesel as well as renewable jet fuel. This Axens renewable fuels technology allows producers to effectively address today’s environmental regulations and secure energy diversification with drop-in premium quality products.
Aemetis has a mission to transform renewable energy with below zero carbon intensity transportation fuels. Aemetis has launched the “Carbon Zero” production process to decarbonize the transportation sector using today’s infrastructure.
Aemetis Carbon Zero plants produce below zero carbon intensity fuels that can immediately “drop in” for use in airline, truck and ship fleets. Aemetis below-zero and low carbon fuels have substantially reduced carbon intensity compared to standard petroleum fossil-based fuels across their lifecycle.
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and bioproducts company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products. Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG). Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies 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 the Carbon Zero plant in Riverbank, California to convert cellulosic hydrogen from waste orchard wood and renewable electricity from solar and hydroelectric sources into renewable jet and diesel fuel. Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and bioproducts. 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 our five-year growth plan, future growth in revenue, net income and adjusted EBITDA, market size for our products, expansion into new markets, our ability to commercialize and scale the licensed patented technology, the ability to obtain sufficiently low Carbon Intensity scores to achieve below zero carbon intensity transportation fuels, the development of the Aemetis Biogas Central California Dairy Project, the development of the Aemetis Carbon Zero 1 plant at the Riverbank site, the upgrades to the Aemetis Keyes ethanol plant, the development of the Aemetis Carbon Capture projects, and the ability to access the funding required to execute on project construction and operations. 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, 2020, 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.