Aemetis on Schedule with Engineering for Sustainable Aviation Fuel and Renewable Diesel Plant by Global Construction Firm CTCI

Rhea-AI Summary

Aemetis (NASDAQ: AMTX) announced progress on its Carbon Zero sustainable aviation fuel and renewable diesel plant in Riverbank, California. Engineering work by CTCI Americas is on schedule for permitting and procurement to start in Q4 2022. The plant, located on a 125-acre site, aims to produce 90 million gallons per year of renewable fuels using renewable hydrogen and hydroelectric electricity. Collaborating with ATSI, Aemetis is utilizing extensive engineering expertise to ensure efficient project execution. This initiative supports the company's mission to reduce greenhouse gas emissions significantly.

Positive

• Engineering work for the Carbon Zero plant is on schedule for Q4 2022 permitting and procurement.
• The plant is designed for a production capacity of 90 million gallons per year.
• Sustainable aviation fuel (SAF) produced will potentially result in up to 100% reduction in lifecycle greenhouse gas emissions.

Negative

• No immediate financial metrics reported to validate project profitability or funding status.

Engineering work supports permitting and procurement for the Aemetis Carbon Zero plant in Riverbank, California

CUPERTINO, CA, Sept. 12, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Aemetis, Inc. (NASDAQ: AMTX), a renewable fuels company focused on negative carbon intensity products, reported today that the engineering work completed during the past year by CTCI for the Aemetis Riverbank Carbon Zero sustainable aviation fuel and renewable diesel plant is on schedule for filing permits and conducting procurement commencing in Q4 2022. 

In October 2021, Aemetis announced that it had entered into an agreement with engineering and construction firm CTCI Americas to conduct permitting and engineering work for the Carbon Zero renewable jet and diesel plant to be built in Riverbank, California.  CTCI Americas is a subsidiary of $2.3 billion revenues CTCI Corp., a global engineering, procurement and construction (EPC) firm with extensive technology and energy industry project engineering and construction experience in California.

In addition to CTCI, the engineering and project management team for the Carbon Zero renewable jet and diesel plant includes ATSI, Inc. of Amherst, NY in the role of Owner’s Engineer to advise Aemetis on technical matters related to the project. ATSI is a firm with 40 years of engineering and project management firm with senior engineers who have extensive experience in the construction and commissioning of oil refineries worldwide, including commissioning of a $10 billion refinery in Asia. ATSI has performed more than five years of owner’s engineer and project management work with Aemetis, including carbon reduction projects at the Keyes ethanol plant and the ongoing Carbon Capture and Underground Sequestration (CCUS) projects in Riverbank and Keyes, CA.

The Aemetis Carbon Zero plant is being developed at a 125-acre former U.S. Army munitions production facility. The process design utilizes renewable hydrogen and renewable hydroelectric electricity to hydrotreat renewable oils to produce sustainable aviation fuel (SAF) and renewable diesel (RD). The Riverbank plant is designed for a capacity of 90 million gallons per year with full flexibility for either 100% SAF or 100% RD production.

“With the extensive engineering and construction experience of CTCI and ATSI, we are fortunate to have a team of engineers and construction managers with experience in building renewable fuels plants in California,” said Eric McAfee, Chairman and CEO of Aemetis.  “The Aemetis plant process design for the Riverbank plant utilizes renewable oils, renewable hydrogen and renewable power to produce advanced renewable fuels that reduce greenhouse gas emissions and improve air quality. There are a limited number of firms with an ability to execute large scale renewable fuels projects within California’s environmental requirements.”

“CTCI brings an experienced EPC team of engineers, designers, supply chain, and project management to the Aemetis sustainable aviation fuel and renewable diesel plant,” stated Patrick Jameson, CEO of CTCI Americas.  “We are currently working on several sustainable and renewable fuel projects including an EPC of a large renewable diesel plant in California.”

“ATSI has worked closely with Aemetis for many years and we are comfortable with the high standards of project execution required to meet their expectations,” said Brian Fojtasek, President of ATSI, Inc. “Our role as the Owner’s Engineer firm on the SAF and RD project enables Aemetis to have an expert independent view of technology, engineering, construction, and project management to improve the speed, cost, and quality of project execution.”
Sustainable aviation fuel has a significant environmental advantage over traditional jet fuel, with up to a 100% reduction in greenhouse gas (GHG) emissions on a lifecycle basis when utilizing low carbon energy and feedstocks along with carbon sequestration. SAF is a vital solution in the decarbonization of aviation.  
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. 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 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 sustainable aviation and renewable diesel fuel projects, financing, 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, 2021 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

FAQ

What is the status of Aemetis's Carbon Zero plant as of September 2022?

Aemetis reported that engineering work by CTCI for the Carbon Zero plant is on schedule, with permitting and procurement set to start in Q4 2022.

What is the production capacity of Aemetis's Carbon Zero plant?

The Carbon Zero plant is designed to produce 90 million gallons per year of sustainable aviation fuel and renewable diesel.

What technology is being used at Aemetis's Carbon Zero plant?

The plant will use renewable hydrogen and hydroelectric electricity to produce sustainable aviation fuel and renewable diesel.

What environmental benefits does Aemetis's sustainable aviation fuel offer?

Aemetis's sustainable aviation fuel can achieve up to a 100% reduction in greenhouse gas emissions on a lifecycle basis.

Who is involved in the engineering work for Aemetis's Carbon Zero project?

CTCI Americas is leading the engineering and permitting work, supported by ATSI, Inc. as the Owner’s Engineer.