Aemetis Begins Production of Below Zero Carbon Intensity Dairy Biogas
October 23 2020 - 7:30AM
via NewMediaWire --
Aemetis, Inc. (NASDAQ: AMTX)
announced today that it is producing dairy biogas from the first
two dairies in a 17 dairy digester biogas project. The
below-zero carbon intensity gas is initially being utilized for the
production of fuel ethanol at the Aemetis Advanced Fuels Keyes
facility in Keyes, California. Aemetis also produces
high-grade sanitizer alcohol and various feed products at its Keyes
facility.
“In just over one year, Aemetis Biogas has built
and commissioned two dairy digesters and four miles of private
pipeline that is now producing below-zero carbon intensity biogas
used in the production of transportation fuel,” said Eric McAfee,
Chairman and CEO of Aemetis. “We are pleased with the rapid
scale-up of our dairy methane to renewable natural gas (RNG)
project and rapid progress toward producing large volumes of RNG
for transportation fuel. With the addition of 15 more dairy
digesters, gas upgrading, utility interconnection, and dispensing
RNG to truck fleets, Aemetis is well positioned to capitalize on
the large below-zero carbon transportation market,” added
McAfee. “This project provides value to local dairies by
creating a new revenue stream while meeting new California
requirements for a significant reduction in methane emissions from
dairies.”
In December 2020, the Company plans to begin
construction of a gas upgrading system that will convert dairy
biogas to renewable natural gas for injection into the PG&E
pipeline or utilization as Renewable CNG at the company’s onsite
renewable compressed natural gas (R-CNG) fueling station.
During 2021, the company plans to continue development of the next
fifteen dairy digesters and related pipeline in the 17 dairy
digester RNG cluster located near the Aemetis Keyes plant. The
project funding plan has no debt and more than $65 million of
preferred equity investment and grants.
About Aemetis
Headquartered in Cupertino, California, Aemetis
is an advanced renewable fuel and biochemicals company focused on
the acquisition, development and commercialization of innovative
technologies that replace traditional petroleum-based products by
the conversion of ethanol and biodiesel plants into advanced
biorefineries. Founded in 2006, Aemetis owns and operates a 65
million gallon per year ethanol production facility in California’s
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 is building a biogas anaerobic
digester network and pipeline to convert dairy animal waste gas to
Renewable Natural Gas (RNG) and is developing a plant to convert
waste orchard wood into cellulosic ethanol. Aemetis 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 relating to the construction and operation
of the dairy digester and pipeline project in Central
California, and the ability to access markets and funding to
execute our biogas business plan. 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,
2019, 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.
External Investor
RelationsContact:Kirin SmithPCG Advisory
Group(646) 863-6519ksmith@pcgadvisory.com
Company Investor Relations/Media
Contact:Todd Waltz (408)
213-0940investors@aemetis.com
Aemetis (NASDAQ:AMTX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Aemetis (NASDAQ:AMTX)
Historical Stock Chart
From Sep 2023 to Sep 2024