Aemetis Signs Distributor Agreement for Health Safety Products and Receives $24 Million Initial Purchase Order
November 23 2020 - 8:00AM
via NewMediaWire –
Aemetis, Inc. (NASDAQ: AMTX) announced
today that its wholly-owned subsidiary, Aemetis Health Products,
Inc., received a $24 million initial purchase order after signing a
supply agreement for sanitizer alcohol and nitrile gloves with a
California distributor that provides health safety products to the
state of California as well as other governmental entities and
large hospital chains throughout the U.S.
“Aemetis Health Products became what we believe to be the
largest production plant for sanitizer alcohol in the Western U.S.
during the second quarter of 2020. We are now executing on our plan
to produce and market alcohol-based health safety products
including hand sanitizer, sanitizer wipes and aerosol sanitizers
under the Aemetis and private label brand names,” said Eric McAfee,
Chairman and CEO of Aemetis. “Our government and healthcare
customers have repeatedly requested that Aemetis extend our product
line to include the supply of nitrile gloves. With more than
a decade of extensive business experience in Asian markets, we
believe Aemetis is well positioned to be a trusted partner of
health safety product manufacturers in that region, as well as
other international markets.”
To support the supply agreement and enable the expansion of the
Aemetis Health Products business, Aemetis has negotiated the
general terms of a new credit facility with its existing lender,
which will be used solely for our health safety product
transactions.
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 sales of high grade alcohol, sales of
nitrile gloves under the initial purchase order, our ability to
develop a retail presence, the ability of our source manufacturers
to deliver nitrile gloves, the credit worthiness of our health
safety product distributor, the production of alcohol by
competitors in the Western United States and the ability to access
funding to execute our sanitizer and health safety product 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 Relations
Contact: Kirin Smith PCG Advisory
Group (646) 863-6519 ksmith@pcgadvisory.com
Company Investor Relations/ Media
Contact: Todd Waltz (408)
213-0940 investors@aemetis.com
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