Aemetis Signs Agreement with Alaska Airlines to Supply 13 Million Gallons of Sustainable Aviation Fuel
May 24 2022 - 8:00AM
via NewMediaWire --
Aemetis, Inc. (NASDAQ:
AMTX), a renewable fuels company focused on negative carbon
intensity products, announced today that an offtake agreement has
been signed with Alaska Airlines for 13 million gallons of blended
sustainable aviation fuel (SAF) to be delivered over the seven year
term of the agreement.
SAF provides significant environmental benefits
compared to petroleum jet fuel, including a lower lifecycle carbon
footprint and reduced contrails. The blended fuel to be supplied
under this agreement is 40% SAF and 60% Petroleum Jet A to meet
international blending standards.
“To make a meaningful impact in decarbonizing
aviation, we must increase the supply and accessibility of SAF,”
said Lauren Kriegler, director of fuel, Alaska. “This partnership
is an important step forward in making SAF readily available in one
of our most important and busiest hubs. We look forward to working
with Aemetis to expand the use of SAF in the Bay Area and
beyond.”
The sustainable aviation fuel is expected to be
produced by the Aemetis renewable jet/diesel plant under
development on a 125-acre former U.S. Army Ammunition production
plant site in Riverbank, California. The blended sustainable
aviation fuel is scheduled to begin deliveries to Qantas in
2025.
“The use of sustainable aviation fuel by Alaska is
another step by the oneworld Alliance toward lowering
the environmental impact of aviation,” stated Eric McAfee, Chairman
and CEO of Aemetis. “Our supply of SAF to the San Francisco
International Airport is supported by the California Low Carbon
Fuel Standard, creating new investment and jobs in disadvantaged
minority communities in the state.”
Powered by 100% renewable electricity, the Aemetis
Carbon Zero production plant design utilizes cellulosic hydrogen
made from carbon negative waste wood from orchards and forests. The
below zero carbon intensity, cellulosic hydrogen from waste wood is
used to hydrotreat vegetable and other renewable oils to produce
renewable aviation and diesel fuel.
To further reduce carbon intensity, the Aemetis
Carbon Zero design includes capturing CO2 from the production plant
and injecting the compressed CO2 into a sequestration well at the
Riverbank site. The project is designed to permanently store an
estimated 200,000 metric tonnes of CO2 each year from the
plant.
About AemetisAemetis 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 products include zero carbon
fuels that can “drop in” to be used in airplane, truck, and ship
fleets. Aemetis 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 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 has
completed Phase 1 and is expanding a California 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 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 sustainable
aviation fuel (SAF) and renewable diesel fuel biorefineries in
California to utilize distillers corn oil and other renewable oils
to produce low carbon intensity renewable jet and diesel fuel using
cellulosic 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 development and construction
of the sustainable aviation and renewable diesel fuel projects, our
compliance with governmental programs, and our ability to access
markets and funding to execute our business plan. 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, 2021 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
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