Pre-treatment Unit Passes First Production Tests Required to Supply BP Singapore Under Three-year Agreement
CUPERTINO, CA, April 25, 2018 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX) announced today that its Universal Biofuels subsidiary completed the production of high quality distilled biodiesel from lower quality, high Free Fatty Acid (FFA) waste feedstock using the recently constructed pre-treatment unit at the biorefinery located on the East Coast of India. Using the lower cost, high FFA waste feedstock, the pre-treatment unit allows for production that meets or exceeds the biodiesel quality specifications of international fuel standards.
The production of high quality distilled biodiesel from high FFA waste feedstock was scheduled as a part of commissioning the pre-treatment unit for production of high quality distilled biodiesel for BP Singapore under a three-year supply agreement. The India biorefinery is now scheduled to process the first production run of feedstock from BP Singapore that already has been delivered to the India plant.
“The production of distilled biodiesel from high FFA waste feedstock using the new pre-treatment unit is the result of a year of technology development and construction work by our India operations and engineering team alongside key vendors,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis plant in India is now capable of converting low cost, high FFA waste feedstocks into high quality distilled biodiesel to be sold into the fast-growing India fuels market and the attractive EU and US markets for waste-based biofuels.”
The Aemetis plant in India has a capacity of 50 million gallons per year and is the only India biofuels producer approved under the Low Carbon Fuel Standard for delivery of biodiesel into California. In April 2017, Aemetis filed a patent on process technology developed at the India plant for the conversion of a wide range of waste feedstocks into high quality biodiesel.
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.
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 biodiesel pretreatment unit, the operation of Aemetis’s India plant, the processing of the BP Singapore feedstock, the commencement of delivery of biodiesel under the BP Singapore supply agreement and the production of biodiesel for sale into the India, US and EU fuel market. 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, 2017, 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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