Aemetis Signs Distributor Agreement for Health Safety Products and Receives $24 Million Initial Purchase Order
Aemetis, Inc. (NASDAQ: AMTX) has secured a $24 million initial purchase order for sanitizer alcohol and nitrile gloves through its subsidiary, Aemetis Health Products. This agreement with a California distributor aims to supply health safety products across various governmental and healthcare entities in the U.S.
With its plant reportedly becoming the largest sanitizer alcohol producer in the Western U.S., Aemetis is expanding its product line to include nitrile gloves, leveraging its extensive experience in Asian markets. A credit facility has been negotiated to support these health safety product transactions.
- Secured a $24 million purchase order for sanitizer alcohol and nitrile gloves.
- Aemetis Health Products is now the largest sanitizer alcohol producer in the Western U.S.
- Expansion of product line to include nitrile gloves, responding to customer demand.
- Dependency on the ability of source manufacturers to deliver nitrile gloves.
- Potential competition risks in the alcohol and nitrile glove markets.
CUPERTINO, CA, Nov. 23, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX) announced today that its wholly-owned subsidiary, Aemetis Health Products, Inc., received a
“Aemetis Health Products became what we believe to be the largest production plant for sanitizer alcohol in the Western U.S. during the second quarter of 2020. We are now executing on our plan to produce and market alcohol-based health safety products including hand sanitizer, sanitizer wipes and aerosol sanitizers under the Aemetis and private label brand names,” said Eric McAfee, Chairman and CEO of Aemetis. “Our government and healthcare customers have repeatedly requested that Aemetis extend our product line to include the supply of nitrile gloves. With more than a decade of extensive business experience in Asian markets, we believe Aemetis is well positioned to be a trusted partner of health safety product manufacturers in that region, as well as other international markets.”
To support the supply agreement and enable the expansion of the Aemetis Health Products business, Aemetis has negotiated the general terms of a new credit facility with its existing lender, which will be used solely for our health safety product transactions.
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced renewable fuel 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 65 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 and Europe. Aemetis is building a biogas anaerobic digester network and pipeline to convert dairy animal waste gas to Renewable Natural Gas (RNG) and is developing a plant to convert waste orchard wood into cellulosic ethanol. Aemetis 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 sales of high grade alcohol, sales of nitrile gloves under the initial purchase order, our ability to develop a retail presence, the ability of our source manufacturers to deliver nitrile gloves, the credit worthiness of our health safety product distributor, the production of alcohol by competitors in the Western United States and the ability to access funding to execute our sanitizer and health safety product business plan. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue”, “enable” 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 (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2019, 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
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