Aircraft and Trucks to be Supplied by Aemetis with ‘Carbon Zero’ Drop-In Biofuels using Renewable Electricity to Convert Renewable Hydrogen and Biomass into Biofuel
CUPERTINO, CA, Feb. 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX) announced today that it has engaged Koch Project Solutions, LLC ("Koch") to provide front-end engineering, design and project execution management services for expansion projects being built by Aemetis.
"The world is adopting new processes to produce low carbon renewable fuels and reduce transportation sector emissions. We look forward to drawing on the extensive resources and experience of Koch Project Solutions, a subsidiary of Koch Engineered Solutions, to maximize the efficiency and value of these projects," said Eric McAfee, Chairman and CEO of Aemetis.
Aemetis is bringing an innovative approach to renewable fuels by integrating both the agricultural and supply chain aspects of the industry,” said Paul Switzer, president of Koch Project Solutions. “As part of Koch Engineered Solutions, KPS is well positioned to bring expertise in a variety of engineering areas to deliver superior performance to these projects. This partnership supports our vision to continually find ways to create greater value while consuming fewer resources.”
The Aemetis “Carbon Zero 1” renewable jet fuel and renewable diesel plant has a planned capacity of about 23 million gallons per year. The facility will be located at the 142-acre Riverbank Industrial Complex, a former US Army ammunitions plant in Riverbank, California.
The Carbon Zero process converts renewable waste biomass into hydrogen. Using solar and hydro-electric power, the hydrogen is combined with low carbon feedstocks to produce zero carbon, drop-in jet and diesel fuel, usable in today’s airplane, truck, and ship fleets without engine modifications or changes in fueling infrastructure.
According to the EPA, about 28% of U.S. carbon emissions are emitted by the transportation sector, posing a significant challenge to reducing greenhouse gas emissions (GHG). New business mandates that include corporate climate commitments and Environmental/Social/Governance (ESG) investing are significantly increasing the demand for low-carbon transportation alternatives.
“We expect the Aemetis Carbon Zero 1 biorefinery at the Riverbank site will be one of the first large-scale utilizations of renewable hydrogen from waste biomass to produce drop-in renewable jet and diesel fuel,” said Eric McAfee, Chairman and CEO of Aemetis. “The Carbon Zero process produces very low carbon fuels to decarbonize transportation vehicles that carry heavier loads and travel long distances, including cargo and passenger airlines as well as commercial trucks and ships.”
“In order to mitigate or reverse climate change, new clean energy technology solutions are required to meet the transportation sector’s growing demand for low carbon fuels,” McAfee stated. “Aemetis Carbon Zero’s readiness and scalability separate it from other renewable fuel production technologies.”
Aemetis expects that the renewable fuels, when used in aviation, trucking, hybrid electric vehicles or other vehicle engines, will have a “below zero carbon” greenhouse gas footprint across the entire lifecycle of the fuel, based on the Argonne National Laboratory’s GREET model, the pre-eminent science-based lifecycle analysis measurement tool.
The Aemetis Carbon Zero 1 project, the Aemetis Biogas renewable natural gas project, and energy efficiency upgrades to the Aemetis Keyes plant include $38 million of grant funding and other support from the USDA, the US Forest Service, the California Energy Commission, the California Department of Food and Agriculture, and PG&E’s energy efficiency program.
About Aemetis
Aemetis has a mission to transform renewable energy into below zero carbon transportation fuels. Aemetis has launched the Carbon Zero production process to decarbonize the transportation sector using existing fuel delivery infrastructure.
Aemetis Carbon Zero products include zero carbon fuels that can immediately “drop-in” to be used in airplane, truck and ship fleets. Aemetis low-carbon fuels are significantly lower carbon intensity compared to petroleum fossil-based fuels.
Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuels company focused on the acquisition, development and commercialization of innovative technologies that produce renewable products to 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 from 17 dairies 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 1 plant in Riverbank, California to convert renewable electricity from solar and hydroelectric sources along with renewable hydrogen from waste orchard wood into renewable jet fuel, renewable diesel, renewable hydrogen and cellulosic ethanol. Aemetis 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.
About Koch Project Solutions
Koch Project Solutions strives to be the preferred partner for capital project execution. Built on a foundation of safety, Koch Project Solutions partners with project owners to develop customized execution and contracting strategies designed to maximize the return on investment. Koch Project Solutions is a part of Koch Engineered Solutions providing world-class services and technologies broadly across industrial sectors. Superior Outcomes. Consistently Delivered. Learn more at our website: www.kochprojectsolutions.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 ability to commercialize and scale the licensed patented technology, the ability to obtain sufficiently low Carbon Intensity scores to achieve below zero transportation fuel, the development of the Aemetis Carbon Zero projects, and the ability to access the funding required to execute on plant 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 the Aemetis Annual Report on Form 10-K for the year ended December 31, 2019, 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
