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EX-10.1 - FUEL ETHANOL PURCHASE AND SALE AGREEMENT, DATED AS OF JUNE 9, 2021 - AEMETIS, INC | amtx_ex101.htm |
8-K - CURRENT REPORT - AEMETIS, INC | amtx_8k.htm |
Exhibit 99.1
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
|
Aemetis Signs $200 million Agreement for Low Carbon Biofuels to be
Delivered in 2021-23
Low Carbon Biofuels to Be Produced from Solar, MVR, Mitsubishi
Zebrex™ Membrane Dehydration System and other Technology and
Energy Efficiency Upgrades to Aemetis Ethanol Plant
CUPERTINO, CA – June 14, 2021 – Aemetis, Inc. (NASDAQ:
AMTX) signed a biofuels offtake agreement with international
renewable fuels supplier Murex, LLC for an estimated $200 million
of low carbon biofuels to be delivered during 2021 to
2023.
Founded 30 years ago and based in Plano, Texas, Murex is a
renewable fuels terminal, marketing, logistics, and supply company
with operations and assets throughout North America.
The terms
of the agreement provide that the fuel and the related Low Carbon
Fuel Standard and Renewable Fuel Standard Credits will be sold at a
fixed discount to the market price at the time of
delivery.
“By deploying exciting new technologies to significantly
reduce the carbon intensity of traditional renewable fuels, Aemetis
has demonstrated its expertise in the management of complex
projects to meet the high standards required by California
regulators and customers,” said Robert Wright, President of
Murex, LLC. “Murex is uniquely positioned to maximize the
value of these low carbon fuels through our extensive railcar and
terminal network, including access to markets beyond California as
low carbon fuel standard regulations are adopted in other states
and countries.”
“As we implement significant energy efficiency upgrades to
our Keyes, California biorefinery, Aemetis is excited to partner
with Murex, a world-class organization with deep expertise and
global reach in the renewable fuels sector,” said Andy
Foster, President of Aemetis Advanced Fuels, a wholly-owned
subsidiary of Aemetis, Inc. “By converting our Keyes plant to
utilize solar and other low or below zero carbon intensity energy
sources instead of high carbon intensity petroleum natural gas, we
will produce lower CI renewable fuel and significantly reduce the
carbon footprint of our biorefinery. The solar microgrid with
battery storage will help power the Mitsubishi ZEBREX™
Membrane Dehydration System, a mechanical vapor recompression
system, and allow additional energy efficiency upgrades,”
added Foster.
“Our goal is to eliminate the use of petroleum natural gas in
our plant as these upgrade projects are completed over the next 12
months,” said Eric McAfee, Chairman and CEO of Aemetis.
“Once our Keyes plant is converted from utilizing petroleum
natural gas to renewable electricity, coupled with negative carbon
intensity dairy RNG and carbon sequestration, the plant may produce
the lowest carbon intensity ethanol in the world. The Murex team
will play a key role in our strategy to expand market reach and
diversification for our low carbon intensity ethanol,” noted
McAfee.
The Aemetis plant upgrades are supported by $16.7 million of grants
from the California Energy Commission and Pacific Gas &
Electric Company.
About Aemetis
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 (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 renewable
jet and diesel fuel integrated 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 related 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 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 upgrade of the ethanol biorefinery in
Keyes, California, our compliance with governmental programs, and
the 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, 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.