via NewMediaWire --
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.
About Axens
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.
About Aemetis
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.
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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