via NewMediaWire -
Aemetis, Inc. (NASDAQ: AMTX) announced
today that the Stanislaus County Board of Supervisors, upon a 4 to
0 vote, approved the California Environmental Quality Act (CEQA)
analysis for Aemetis Biogas LLC to extend its biogas pipeline by an
additional 24 miles using the public right of way.
The pipeline transports biogas from dairy digesters to a
centralized renewable natural gas (RNG) upgrading facility located
at the Aemetis Keyes biofuels plant. The pipeline extension will
enable Aemetis to add 21 additional dairies to the Aemetis Biogas
project in Stanislaus and Merced Counties. As the biogas
pipeline is being built, encroachment permits are expected to be
obtained for each section using detailed engineering designs and
relying on the County’s CEQA environmental approval.
Aemetis has already installed 36 miles of biogas pipeline, and
with the additional 24 miles of pipeline, the company has CEQA
approval for a total of 60 miles of public right of way for a
biogas gathering pipeline that will collect biogas from an
aggregate of 38 dairies.
The Aemetis Biogas pipeline project, including dairy digesters,
collection pipeline, centralized biogas upgrading facility, RNG
fueling station, and PG&E gas pipeline interconnection, is
investing more than $300 million in California’s Central Valley.
The dairy biogas project generates additional tax revenues and new
jobs for a wide variety of businesses in agricultural areas, many
of which are underserved communities.
“With 36 miles of biogas pipeline already built, seven operating
dairy digesters, and biogas digesters under construction for ten
more dairies, this new approval for 24 miles of biogas pipeline
serving an additional 21 dairies is another significant milestone
for the Aemetis Biogas dairy RNG project,” said Eric McAfee,
Chairman and CEO of Aemetis. “The capture of methane at
dairies and conversion into below zero carbon intensity renewable
fuel to replace diesel for heavy trucks provides immediate
benefits, improving regional air quality, reducing methane and
carbon emissions, and providing a lower cost renewable fuel for
heavy trucking.”
Aemetis plans to increase its renewable natural gas production
to more than 1.65 million MMBtu per year of negative carbon
intensity transportation fuel, sourced from dairy digesters located
in the San Joaquin Valley, a region cited by the US EPA as having
some of the nation’s worst air quality. The project is designed to
reduce greenhouse gas emissions equivalent to an estimated 6.8
million metric tons of carbon dioxide over ten years, equal to
removing the emissions from approximately 150,000 cars per
year.
Aemetis has received permits, completed engineering, fabricated
equipment, and is now installing an RNG fueling station at the
Keyes ethanol plant to fuel trucks with locally produced renewable
natural gas that provides a 90% reduction in emissions compared to
petroleum diesel fuel, at a significantly lower cost than
diesel.
The Aemetis Biogas dairy RNG project, energy efficiency upgrades
to the Aemetis Keyes biofuels plant, and the Aemetis Sustainable
Aviation Fuel and Renewable Diesel project include $57 million of
grant funding and other support from the California Air Resources
Board, the US Department of Agriculture, the US Forest Service, the
California Energy Commission, the California Department of Food and
Agriculture, CAEATFA, the San Joaquin Valley Air Pollution Control
District, and Pacific Gas and Electric’s energy efficiency
program.
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 is expanding a
California biogas digester network and pipeline system to convert
dairy waste gas into Renewable Natural Gas. 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 60
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 sustainable aviation fuel (SAF) and
renewable diesel fuel 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 exclusive 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 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 development, construction and operation
of the Aemetis Biogas RNG project, the SAF and renewable diesel
plant, and the carbon capture and sequestration wells, as well as
our ability to qualify for the receipt and transferability of tax
credits under the Inflation Reduction Act, expected greenhouse gas
emission reductions from the completed Aemetis Biogas RNG project,
the development of biogas upgrading facilities, and our ability to
promote, develop and deploy technologies to produce renewable fuels
and biochemicals. 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, 2022 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 WaltzAemetis, Inc.(408)
213-0940investors@aemetis.com
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