Upgrading Unit Will Convert Dairy Methane Gas Into Ultra-Low-Carbon Renewable Natural Gas for Injection Into PG&E Pipeline; Company Awarded a Total of $18 Million in Grants in JanuaryCUPERTINO, CA, Jan. 29, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Aemetis, Inc. (NASDAQ: AMTX) (“Aemetis”) announced today that the California Energy Commission (“CEC”) awarded the company’s subsidiary, Aemetis Biogas LLC (“Aemetis Biogas”), a $4.1 million grant under the CEC’s Low Carbon Fuel Production Program to construct a biogas upgrading facility.  The biogas upgrading facility will convert dairy biogas to renewable natural gas (“RNG”) as a final processing step after biogas is delivered via pipeline from anaerobic digesters that Aemetis Biogas is building at dairies throughout Stanislaus and Merced Counties. Aemetis Biogas is currently developing more than a dozen anaerobic digesters at local dairies, with plans for future expansion to several dozen dairies.The Aemetis Central Dairy Digester and Pipeline Project is designed to capture methane gas currently emitted from dairy manure lagoons, pre-treat the biogas at each dairy to remove harmful components, then transport the methane via pipeline from each dairy to a biogas upgrading facility at the Aemetis Keyes ethanol plant.  After the biogas is upgraded to utility pipeline quality RNG, the RNG will be utilized at the Keyes ethanol plant to replace carbon-intensive petroleum natural gas currently used to generate steam and power at the plant, or will be injected into PG&E’s gas pipeline to be utilized as transportation fuel by trucking companies and bus fleets.  Due to the volume of truck traffic at the Keyes plant for biofuel and dairy feed deliveries, Aemetis also expects to supply local trucking fleets through an onsite renewable compressed natural gas (“CNG”) dispenser. Aemetis expects to complete construction and begin operation of its first two dairy digesters, the onsite dairy biogas pre-treatment units, a 4-mile Aemetis pipeline and a new biogas boiler at the Keyes plant in Q2 2020.  “Aemetis plans to utilize the CEC grant to accelerate construction of the biogas upgrading facility, which is the final step to bringing clean, renewable natural gas to the marketplace,” said Eric McAfee, Chairman and CEO of Aemetis, Inc.  “This biogas to RNG project adds revenues to dairies while also avoiding penalties from methane emissions that may otherwise become a new cost burden on dairy owners. We appreciate the CEC’s strong support for the Aemetis Central Dairy Digester and Pipeline Project, which we believe will have a direct positive impact on the economic and environmental health of California’s Central Valley,” said McAfee.Aemetis has been awarded a total of approximately $18 million of CEC grants this month to support the company’s Aemetis Central Dairy Digester and Pipeline Project, and for carbon reduction energy efficiency upgrades to the Keyes Plant.About AemetisHeadquartered 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 65 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 is building a dairy digester and pipeline project to capture and upgrade methane for use in transportation and ethanol production at the Aemetis ethanol plant.  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 the biogas production facility in Keyes, California, the achievement of certain cost advantages for the construction of the biogas facility, the costs to construct the biogas facility and the ability to access various government programs. 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 (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2018, 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) 863-6519[email protected]
Company Investor Relations/Media Contact:Todd Waltz (408) 213-0940[email protected]
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