Aemetis Advanced Biorefinery Named #1 Waste-to-Value Project in the World
June 19 2018 - 8:30AM
Aemetis, Inc. (NASDAQ: AMTX) today announced that
Biofuels Digest awarded the Aemetis cellulosic ethanol facility
under development at the Riverbank site in California as the #1
Waste-to-Value Project in the world. The Aemetis facility earned
its #1 project ranking as a result of its low cost contracted
inputs, high value outputs, proven process technology and a planned
$125 million USDA guaranteed loan. The facility was ranked above
high profile and funded advanced biofuels projects including those
developed by Fulcrum, Red Rock, Clariant, Poet and Enerkem.
Biofuels Digest noted that the Aemetis Riverbank project
combines the best technology from leading technology providers
LanzaTech and InEnTec with the local availability of waste orchard
wood and other feedstock that can be used to produce Aemetis’ high
value cellulosic ethanol and valuable byproducts. The Aemetis
Riverbank plant plans to integrate advanced arc furnace and gas
fermentation technologies to convert agricultural waste biomass
into below zero carbon (in terms of expected carbon intensity
scores as determined under California’s Low Carbon Fuel Standard),
renewable cellulosic ethanol and high value fish meal.
“Though the Aemetis Riverbank cellulosic ethanol plant is
designed to use any biomass material, the conversion of
agricultural waste biomass into high value, below zero carbon
biofuel utilizes the unique availability of over 1.6 million tons
of annual waste wood feedstock in the Central Valley from almond
and walnut orchards,” stated Eric McAfee, the Chairman and CEO of
Aemetis. “Aemetis holds exclusive rights in California and
important rights worldwide for biomass conversion using the InEnTec
gasifier and LanzaTech microbial reactor technologies. With
California Low Carbon Fuel Standard (LCFS) credits trading at a
record $180, up from about $62 a year ago, we expect that the
production of advanced biofuels from below zero carbon waste
feedstocks could generate more than $50 million per year of
positive cash flow from the 12 million gallons per year of
production capacity built in the first phase of construction
(assuming prices and credits remain at current levels), with a
planned expansion to about 40 million gallons per year of
production capacity thereafter at the Riverbank site.”
Aemetis seeks to reduce air pollution in California’s Central
Valley, where the recent closure of biomass to electricity plants
has led to an oversupply of waste orchard wood and other feedstock,
and a return to burning agricultural waste. The Aemetis cellulosic
ethanol project converts these agricultural wastes into high value
renewable fuels and animal feed. Key milestones of the Aemetis
Riverbank project include:
- Recently completed operation of a fully integrated
demonstration unit of the InEnTec gasifier and LanzaTech microbial
reactor technologies in Richland, Washington, which generated high
commercial yields of 77 gallons of ethanol per ton of
feedstock;
- Signed a 20-year feedstock supply agreement starting at only
$15 per bone dry ton; and
- Deployment of the LanzaTech process technology in China to
convert steel mill waste gases into ethanol using a similar reactor
design to that planned to be deployed in the Aemetis Riverbank
plant.
The Aemetis Riverbank plant will be built in Riverbank,
California near the existing Aemetis Keyes 60 million gallon
ethanol facility. Aemetis is in the process of completing final
engineering and permitting, with plans to complete project
financing and begin construction of the Riverbank plant this
year.
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced
renewable fuels 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
60 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, the US and Europe. Aemetis operates a
research and development laboratory, and 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.
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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