Investor conference call to be held on January 10, 2018
CUPERTINO, CA, Dec. 26, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Aemetis, Inc. (NASDAQ: AMTX)
announced today that its subsidiary, Aemetis Biogas LLC, closed a $30 million equity investment without any dilutive stock
issuances by Aemetis, Inc. and funded the first $8.3 million tranche to subsidiary Aemetis Biogas to build, own and operate dairy
biomethane digesters, pipelines and gas cleanup/compression facilities primarily under 20-year agreements with dairy farms in
California.
Dairies produce about 25% of California’s methane emissions and have become targets of carbon regulations aimed to
reduce climate change. With a carbon intensity under the California Low Carbon Fuel Standard of about negative 300, dairy
biomethane is highly valuable, but needs to be collected at the dairy, pipelined to a central processing facility, then cleaned and
compressed for use as Renewable Natural Gas in converted diesel trucks and other natural gas vehicles.
The project will initially connect about a dozen dairies to Aemetis’ ethanol plant in Keyes, California, with
expansion plans to more than three dozen dairies in the local area. The Aemetis plant supplies Wet Distillers Grain feed to
about 100 dairies.
“Dairy biogas is a below zero carbon biofuel that is a new source of revenue for dairies, which do not currently
have a way to monetize their biomethane as a transportation fuel without the necessary pipeline and gas cleanup/compression
infrastructure, as well as a customer that can use biogas to produce low carbon biofuels. Our 60 million gallon ethanol
plant is capable of using biogas to replace petroleum natural gas to produce a lower carbon biofuel and generate additional Low
Carbon Fuel Standard credits,” stated Eric McAfee, Chairman and CEO of Aemetis. “Since utilities in California have not
yet completed the permitting and other requirements for injection of dairy biomethane into natural gas pipelines, collecting and
converting biogas for use in ethanol production provides Aemetis a sustainable first-mover advantage in biogas pipeline and dairy
digester construction for dairies in the area around our Keyes plant.”
“Importantly, this equity financing by our subsidiary, Aemetis Biogas, will permit us to execute this project
without any dilutive stock issuances by Aemetis, Inc.,” McAfee noted. “Aemetis continues to execute on funding and building
projects that generate highly valued, low carbon biofuels primarily from waste or reused materials under the California LCFS and
Federal RFS.”
The equity funding of Aemetis Biogas was provided by Protair-X Americas, an environmental investment unit of
Protair-X Technologies in Canada, which has extensive experience in protecting livestock farming environments. Aemetis’ senior
lender, Third Eye Capital, is a major investor in Protair-X Technologies.
Aemetis will hold an investor conference call on January 10 at 11 am Pacific / 2 pm Eastern to review the Aemetis
Biogas business. For details on the call, visit: http://www.aemetis.com/investors/conference-call/
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.
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 construction and operation
of biomethane digesters, pipelines and gas cleanup/compression facilities, 20-year supply contracts, the value of
biomethane and the funding and building projects that generate highly valued, low carbon biofuels primarily from waste or reused
materials under the California LCFS and Federal RFS. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,”
“estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “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, 2017, 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