CUPERTINO, CA, June 19, 2018 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX) today announced that Biofuels Digest awarded the Aemetis cellulosic ethanol facility under development at the Riverbank site in California as the #1 Waste-to-Value Project in the world. The Aemetis facility earned its #1 project ranking as a result of its low cost contracted inputs, high value outputs, proven process technology and a planned $125 million USDA guaranteed loan. The facility was ranked above high profile and funded advanced biofuels projects including those developed by Fulcrum, Red Rock, Clariant, Poet and Enerkem.
Biofuels Digest noted that the Aemetis Riverbank project combines the best technology from leading technology providers LanzaTech and InEnTec with the local availability of waste orchard wood and other feedstock that can be used to produce Aemetis’ high value cellulosic ethanol and valuable byproducts. The Aemetis Riverbank plant plans to integrate advanced arc furnace and gas fermentation technologies to convert agricultural waste biomass into below zero carbon (in terms of expected carbon intensity scores as determined under California’s Low Carbon Fuel Standard), renewable cellulosic ethanol and high value fish meal.
“Though the Aemetis Riverbank cellulosic ethanol plant is designed to use any biomass material, the conversion of agricultural waste biomass into high value, below zero carbon biofuel utilizes the unique availability of over 1.6 million tons of annual waste wood feedstock in the Central Valley from almond and walnut orchards,” stated Eric McAfee, the Chairman and CEO of Aemetis. “Aemetis holds exclusive rights in California and important rights worldwide for biomass conversion using the InEnTec gasifier and LanzaTech microbial reactor technologies. With California Low Carbon Fuel Standard (LCFS) credits trading at a record $180, up from about $62 a year ago, we expect that the production of advanced biofuels from below zero carbon waste feedstocks could generate more than $50 million per year of positive cash flow from the 12 million gallons per year of production capacity built in the first phase of construction (assuming prices and credits remain at current levels), with a planned expansion to about 40 million gallons per year of production capacity thereafter at the Riverbank site.”
Aemetis seeks to reduce air pollution in California’s Central Valley, where the recent closure of biomass to electricity plants has led to an oversupply of waste orchard wood and other feedstock, and a return to burning agricultural waste. The Aemetis cellulosic ethanol project converts these agricultural wastes into high value renewable fuels and animal feed. Key milestones of the Aemetis Riverbank project include:
- Recently completed operation of a fully integrated demonstration unit of the InEnTec gasifier and LanzaTech microbial reactor technologies in Richland, Washington, which generated high commercial yields of 77 gallons of ethanol per ton of feedstock;
- Signed a 20-year feedstock supply agreement starting at only $15 per bone dry ton; and
- Deployment of the LanzaTech process technology in China to convert steel mill waste gases into ethanol using a similar reactor design to that planned to be deployed in the Aemetis Riverbank plant.
The Aemetis Riverbank plant will be built in Riverbank, California near the existing Aemetis Keyes 60 million gallon ethanol facility. Aemetis is in the process of completing final engineering and permitting, with plans to complete project financing and begin construction of the Riverbank plant this year.
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.