Aemetis Appoints Former California Public Utilities Commissioner Timothy Simon to the Aemetis Board of Directors

Rhea-AI Summary

Aemetis, Inc. (NASDAQ: AMTX) has appointed Timothy Alan Simon, Esq. to its Board of Directors, effective October 14, 2021. Simon, a former Commissioner of the California Public Utilities Commission, brings extensive experience in energy markets and regulation. His role is expected to enhance Aemetis' capabilities as the company focuses on renewable natural gas and sustainable fuels. The board expressed support for Simon’s appointment, highlighting his regulatory expertise. Aemetis is dedicated to producing low carbon intensity transportation fuels and is expanding its renewable energy initiatives.

Positive

• Timothy Simon's appointment brings extensive regulatory and energy market experience to Aemetis.
• Strengthened leadership with diverse energy expertise could enhance growth in renewable fuel sectors.

Negative

• Concerns about continuity and potential experience gaps, as the board expands.

CUPERTINO, CA, Oct. 18, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas (RNG) and renewable fuels company focused on negative carbon intensity products, today announced the appointment of Timothy Alan Simon, Esq., former Commissioner of the California Public Utilities Commission (CPUC), to the Company’s Board of Directors, effective October 14. 

Mr. Simon was appointed to the CPUC by Governor Arnold Schwarzenegger in February 2007, ending his term in December 2012. During his time as a CPUC commissioner, Mr. Simon served as Chair of the National Association of Regulatory Utility Commissioners (“NARUC”) Natural Gas Committee; Chair of the LNG Partnership between the Department of Energy and NARUC; founding member of the Call to Action National Gas Pipeline Safety Taskforce with the U.S. Department of Transportation; and member of the National Petroleum Council.

Prior to his CPUC appointment, Mr. Simon served as Appointments Secretary in the Office of the Governor, the first African American in California history to hold this post. He also served as Adjunct Professor of Law at Golden Gate University School of Law and the University of California Hastings College of the Law. Prior to public service, Mr. Simon was an in-house counsel and compliance officer with Bank of America, Wells Fargo, and the Robertson Stephens investment bank.

“Mr. Simon has extensive relevant experience in energy markets and regulation, and we are pleased that he has joined the Aemetis Board to contribute as a new independent director,” stated Eric McAfee, Chairman and CEO of Aemetis. 

Mr. Simon said, “From my experience as a former regulator and active participant in the energy sector, I am excited to become a board member at Aemetis during a period of rapid growth in renewable natural gas, sustainable aviation fuel, renewable diesel and carbon sequestration. Aemetis is playing a vital leading role in the expansion of production capacity and in these fast growing renewable energy markets that are expected to receive expanded regulatory and financing support.”

Aemetis board members expressed strong support for the appointment.  “As an Aemetis board member for 14 years, I am pleased to see an expansion of the board with the addition of diverse energy and regulatory experience,” said John Block, former Secretary of the US Department of Agriculture.  “We look forward to working together to achieve the growth plans at Aemetis.”

Lydia Beebe, former Chevron corporate secretary for 20 years and an Aemetis board member since 2016, stated, “I have known Timothy Simon for many years and look forward to serving with him on the Aemetis board.  He expands the capabilities of the Aemetis board in natural gas and electric utility matters, including using renewable natural gas to power electric vehicles.”

In 2013, Mr. Simon created TAS Strategies, serving as an attorney and consultant on utility, infrastructure, financial services, and broadband projects. He is a frequent public speaker, expert witness and panelist on energy, infrastructure, diversity, and inclusion.

In 2019, Mr. Simon was elected Chairman of the Board of Directors for the California African American Chamber of Commerce and elected to the University of San Francisco Board of Trustees. He currently serves on the North American Energy Standards Board Advisory Council and is a member of the National Bar Association, Energy Bar Association, The Saint Thomas More Society and the National Board of Directors for the American Association of Blacks in Energy. 

Mr. Simon received a bachelor’s degree in Economics from the University of San Francisco (Distinguished Alumni) and a Juris Doctor from the U.C. Hastings College of the Law. He is an active member of the State Bar of California.

About Aemetis

Aemetis has a mission to transform renewable energy with below zero carbon intensity transportation fuels. Aemetis has launched the “Carbon Zero” production process to decarbonize the transportation sector using today’s infrastructure. 

Aemetis Carbon Zero plants produce below zero carbon intensity fuels that can immediately “drop in” for use in airline, truck and ship fleets.  Aemetis below-zero and low carbon fuels have substantially reduced carbon intensity compared to standard petroleum fossil-based fuels across their lifecycle. 

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and bioproducts company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  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 50 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 plant in Riverbank, California to convert cellulosic hydrogen from waste orchard wood and renewable electricity from solar and hydroelectric sources into renewable jet and diesel fuel.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and bioproducts.  For additional information about Aemetis, please visit www.aemetis.com.

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

FAQ

Who is Timothy Alan Simon and what role will he play at Aemetis?

Timothy Alan Simon is the newly appointed Board member at Aemetis, bringing his extensive experience in energy regulation to support the company's growth.

When was Timothy Simon appointed to Aemetis' Board of Directors?

Timothy Simon was appointed to the Board of Aemetis effective October 14, 2021.

What experience does Timothy Simon have in the energy sector?

Timothy Simon has served as Commissioner of the California Public Utilities Commission and has extensive involvement in various energy regulatory committees.

How will Simon's appointment affect Aemetis' strategy?

Simon’s background in regulatory affairs is expected to help Aemetis navigate the rapidly evolving renewable energy market.

What is Aemetis' focus in the renewable energy sector?

Aemetis is focused on producing renewable natural gas, sustainable aviation fuel, and carbon sequestration, aiming for below-zero carbon intensity products.