Aemetis Biogas Signs Utility Pipeline Interconnect Agreement and Funds Final Payment for Installation of Equipment
Aemetis, Inc. (NASDAQ: AMTX) announced the completion of key milestones for its renewable natural gas (RNG) project in collaboration with PG&E. The company signed a Standard Renewable Gas Interconnection Agreement and made a final payment of $1.2 million for the interconnection equipment, scheduled for completion in Q4 2021. This project aims to deliver RNG into PG&E's natural gas pipeline, displacing petroleum-based fuels in California. The initiative is projected to capture over 1.4 million MMBtu of methane annually, significantly reducing greenhouse gas emissions.
- Completion of Standard Renewable Gas Interconnection Agreement with PG&E.
- Investment of $1.2 million for interconnection equipment highlights commitment to project.
- Biogas project expected to significantly reduce greenhouse gas emissions by 5.2 million metric tonnes of CO2 annually.
- None.
PG&E Gas Pipeline Interconnect Expected to be Completed in Q4 2021
CUPERTINO, CA, Sept. 15, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas (RNG) and renewable fuels company focused on negative carbon intensity products, announced that its subsidiary Aemetis Biogas LLC has signed the Standard Renewable Gas Interconnection Agreement (SRGIA) with the Pacific Gas & Electric Company and funded the final
The PG&E RNG interconnect equipment has already been fabricated onto modular units that are now scheduled to be delivered to the Keyes plant and installed during the next three months. When the interconnection unit is completed, the RNG produced by the Aemetis Biogas Central Diary Digester Project will be delivered into the Pacific Gas & Electric natural gas pipeline for sale to customers throughout California as transportation fuel.
“As planned, the engineering, permitting, offsite equipment fabrication, and full payment of
Aemetis has already built and currently operates two dairy biogas digesters, on-site dairy gas upgrading and pressurization facilities, and a four-mile biogas pipeline connecting the dairies to the Aemetis Keyes ethanol plant. The centralized biogas cleanup and onsite RNG fueling facilities at the Keyes plant are currently under construction for completion in Q4 2021, and the construction of 15 additional dairy biogas digesters are in progress for completion during 2022.
The PG&E interconnection unit is a gateway for the network of lagoon digesters being built by Aemetis Biogas to produce renewable natural gas (RNG) for use as a transportation fuel. The biogas produced by the first two dairy digesters has received an approved pathway by the California Air Resources Board (CARB) utilizing negative 426 (-426) carbon intensity (CI) and is currently used to displace petroleum based natural gas consumed at the Keyes ethanol production facility for process energy.
When fully built out, the planned 52 dairies in the Aemetis biogas project are expected to capture more than 1.4 million MMBtu of dairy methane and reduce greenhouse gas emissions equivalent to an estimated 5.2 million metric tonnes of CO2 each year, equal to removing the emissions from approximately 1.1 million cars per year.
The Aemetis Biogas dairy RNG project, energy efficiency upgrades to the Aemetis Keyes biofuels plant, and the Aemetis Renewable Jet/Diesel project include
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 products include zero carbon fuels that can “drop in” to be used in airplane, truck, and ship fleets. Aemetis 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 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 has completed Phase 1 and 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 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 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 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 development and construction of the PG&E utility gas pipeline, biogas lagoon digesters, biogas cleanup and compression unit, construction and operation of the biogas pipeline, our compliance with governmental programs, and our ability to access markets and funding to execute our business plan. 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, 2020 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
Company Investor Relations/
Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com
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