Hybrid Electric Vehicles to be Supplied with Below Zero Carbon Intensity Biofuel
CUPERTINO, CA, Jan. 15, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Aemetis, Inc. (NASDAQ: AMTX) announced today that its exclusively licensed technology for the production of below zero carbon renewable fuel was awarded U.S. Patent No. 10907184 (to be published February 2, 2021), enabling the launch of Aemetis “Carbon Zero” production plants to commercialize the technology. Using patented technology exclusive to Aemetis for agricultural waste wood feedstock, the Carbon Zero plants are integrated with existing Aemetis production facilities to produce energy dense renewable fuels using renewable energy and below zero carbon intensity waste feedstocks.
The Aemetis Carbon Zero production plants are designed to convert below zero carbon feedstocks (waste wood and ag wastes) and renewable energy (solar, renewable natural gas, biogas) into energy dense liquid renewable fuels. Aemetis expects that such renewable fuels, when used in hybrid electric vehicles or other vehicle engines, will have a “below zero carbon” greenhouse gas footprint across the entire lifecycle of the fuel based on the Argonne National Laboratory’s GREET model, the pre-eminent science-based lifecycle analysis measurement tool.
“We are naming these projects ‘Carbon Zero’ to reflect our mission to reduce greenhouse gases. Wood is partially comprised of carbon dioxide (CO2) from the air. Agricultural waste wood has a below zero carbon intensity as a fuel by avoiding greenhouse gas emissions, since waste wood is usually burned in the field or breaks down into harmful methane emissions,” stated Eric McAfee, Chairman and CEO of Aemetis.
“By combining below zero carbon waste wood with zero carbon renewable energy obtained from solar, hydroelectric and biogas sources, Aemetis is transforming these sources of renewable energy into zero carbon renewable fuels that work with existing engines, as well as range extender generators used in electric cars or trucks as long-haul and local delivery vehicles adopt electric drivetrains to improve emissions, fuel efficiency and performance,” McAfee noted.
The first Aemetis Carbon Zero production plant — “Carbon Zero 1” — is planned for the 140-acre Riverbank Industrial Complex in Central California, a former Army ammunition production facility with 710,000 square feet of existing production buildings.
The Carbon Zero 1 plant will extract sugars from waste wood and then process the sugar into renewable fuel at the existing nearby Aemetis 65 million gallon per year plant near Modesto, California. This process is expected to reduce the amount of corn used in biofuel production, provide a 90% reduction in feedstock cost, and significantly increase the value of the biofuel by significantly reducing its carbon intensity. After an initial production demonstration phase, the Carbon Zero 1 plant is expected to ramp up capacity to produce 10% of the sugar feedstock used in the existing Aemetis 65 million gallon per year biofuel plant, with additional expansion in future phases.
The Carbon Zero 1 project and energy efficiency upgrades to the Aemetis plant include funding and other support from the USDA, the US Forest Service, the California Energy Commission, the California Department of Food and Agriculture, and PG&E.
Aemetis has a mission to transform renewable energy into below zero carbon transportation fuels. The next generation of renewable fuels can achieve below zero carbon emissions by addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. Aemetis uses low-carbon renewable resource-based carbohydrates as raw materials and is developing renewable electricity and renewable natural gas for use in transportation and production processes. Aemetis low-carbon fuels have substantially reduced carbon intensity (the level of greenhouse gas emissions 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 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 1 plant in California to convert waste orchard wood into sugars that will be processed into biofuels at the Keyes plant, as well as cellulosic ethanol and renewable hydrogen in expansion phases. 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 our ability to commercialize and scale the licensed patented technology, the ability to obtain sufficiently low Carbon Intensity score to achieve below zero transportation fuel, the development of the Aemetis Biogas Central California Dairy Project, and the ability to access the funding required to execute on the plant construction and operations. 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 the Aemetis 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
PCG Advisory Group
Company Investor Relations/