CUPERTINO, CA / ACCESSWIRE / March 6, 2018 / Aemetis, Inc. (NASDAQ: AMTX) announced today that the company successfully built and operated an integrated demonstration unit for more than 120 days of continuous operations with 94% uptime, meeting the requirements for a federal USDA 9003 Biorefinery Assistance Program guaranteed loan.
In partnership with its key technology providers InEnTec and LanzaTech, Aemetis successfully optimized the integration of an advanced arc furnace and gas fermentation technologies to convert waste biomass into low carbon, renewable cellulosic ethanol and fish meal. The unit was built at the InEnTec Technology Center in Richland, Washington and demonstrated the fully integrated system, including biomass handling, gasification, gas clean up, waste treatment and distillation systems.
"The completion of the successful operation of the demonstration unit is the final technology step in securing a USDA loan guarantee for the $158 million cellulosic ethanol plant Aemetis is building in Riverbank, California," said Eric McAfee, Chairman and CEO of Aemetis. "We believe that the integration of these technologies, and the high yields generated by the unit, demonstrate that Aemetis can successfully produce high value cellulosic ethanol from the 1.6 million tons of waste orchard wood and other renewable feedstocks in the Central Valley. With plans to expand the Riverbank plant and construct additional plants, Aemetis plans to be a leader in supplying California's low carbon fuels mandates."
With a 20-year feedstock supply agreement and a 55-year lease already signed, the 12 million gallon per year Riverbank plant is expected to begin operations in 2019.
For the demonstration unit, Aemetis used waste orchard wood and nut shells from almond and walnut trees as feedstock, gasified the biomass using a high temperature plasma gasification system to produce synthesis gas ("syngas"), cooled and cleaned the syngas, and supplied the syngas to a patented gas fermentation bioreactor to produce an ethanol broth. The broth was subsequently distilled to produce commercial grade ethanol.
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.
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, and the construction and operation of the cellulosic ethanol facility. 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.
External Investor Relations Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com
Company Investor Relations/ Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com
SOURCE: Aemetis, Inc.
