CUPERTINO, CA / ACCESSWIRE / March 12, 2018 / Aemetis, Inc. (NASDAQ: AMTX) announced today that it has achieved a major engineering milestone with its engineering firm, ATSI, by completing front-end loading (FEL) engineering for its 12 million gallon per year cellulosic ethanol plant in Riverbank, CA. In early 2017, Aemetis and ATSI began the design of the integrated gas fermentation facility at the Riverbank plant, which combines LanzaTech's gas fermentation technology with InEnTec's arc furnace gasification technology. After nine months of engineering, optimization and demonstration plant testing, Aemetis has now completed all engineering necessary to begin the procurement of long lead-time equipment for the Riverbank facility. Aemetis is currently engaging with vendors and contractors to coordinate the construction of the initial 12 million gallons of cellulosic ethanol in California, in addition to each subsequent phased build out.
"Aemetis is very pleased to be working with ATSI's world-class team to bring our Riverbank cellulosic ethanol plant to full commercial implementation," said Eric McAfee, Chairman and CEO of Aemetis, Inc. "We are equally excited to begin commercial discussions with key vendors and potential partners in the industry who will help us begin the procurement and construction phase for this and future projects."
After an extensive vetting of leading engineering and EPC firms, Aemetis selected ATSI for their deep expertise and experience in both gasification design and the integration of back-end process technologies. The ATSI Sustainability team has been designing and executing capital projects for over 40 years, and has a wealth of experience in renewable and traditional power, industrial, chemicals, refining, metallurgical, gasification and biofuel facilities. With extensive experience including evaluating the design of gasification projects in the industry, ATSI began engineering the Aemetis project by evaluating and confirming the selection of InEnTec as the best gasification option available for the Aemetis project due to the low contaminant loading, high yielding carbon monoxide and hydrogen ratios, and scalable solution.
"ATSI has vetted, designed, and executed projects with many similar processes over the past decade and believes this project offers strong potential economics and technologic readiness," said Josh Dickenson, Director of Business Development at ATSI. "We believe this project has a positive future of technology deployment in California and around the globe. ATSI's goal is to be the partner and springboard that allows Aemetis realize their advanced biofuels mission through the development of its 12 MGY facility in Riverbank in addition to the additional planned deployment sites," added Dickenson.
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.
ATSI, Inc., headquartered in Buffalo, New York, is proud to have teamed with the former North American Engineering firm of Abengoa, the former global leader in waste to energy projects. After the restructuring of Abengoa, the team was brought under the ATSI umbrella, combining two of the most experienced engineering firms in the gasification to biofuels industry. ATSI is a team of professionals responsible for over one billion dollars in Engineering Procurement and Construction contracts awarded within the US renewable energy market over the past five years. ATSI's projects were predominantly first-of-kind processes taking bench and pilot technologies to commercial scale. In addition to engineering expertise, ATSI key personnel have extensive experience in moving through the USDA 9003 Loan Gurantee Process.
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 production or effectiveness of the demonstration facility, the construction and operation of the Riverbank cellulosic ethanol facility and the technologic and economic returns associated with the Riverbank project. 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, 2016, 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.
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SOURCE: Aemetis, Inc.