Aemetis receives Authority to assemble air permits for Riverbank Sustainable Aviation Gas Plant. Aemetis, Inc. (NASDAQ: AMTX), a renewable pure gasoline and renewable fuels firm centered on low and adverse carbon depth merchandise, introduced receipt of the Authority to Assemble (ATC) air permits for its deliberate sustainable aviation gasoline (SAF) and renewable diesel (RD) manufacturing plant in Riverbank, California.
The plant is designed to supply 90 million gallons per yr when allocating 50% to SAF and 50% to renewable diesel manufacturing, and 78 million gallons per yr when allocating 100% of manufacturing to SAF for the aviation market.
The Authority to Assemble permits had been issued by the San Joaquin Valley Air Air pollution Management District following an intensive technical evaluation and two public remark durations.
In September 2023, Aemetis acquired approval from the Metropolis of Riverbank for the Use Allow and California Environmental High quality Act (CEQA) evaluation after a separate technical evaluation and public remark course of. Collectively, these permits are the important thing permits wanted for Aemetis to proceed with engineering and financing to assemble the plant.
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Eric McAfee, Chairman and CEO of Aemetis stated:
Constructing our sustainable aviation gasoline enterprise is a excessive precedence to satisfy quickly rising world demand for SAF from airways.
“Reaching this important allowing milestone is a important step in advancing the challenge to financing, procurement, and building. Reflecting the optimistic atmosphere for changing petroleum jet gasoline with SAF, the $380 billion Inflation Discount Act contains particular SAF tax credit to assist one of these challenge, and the USDA has supplied financing assist for different Aemetis renewable fuels tasks to allow engaging 20-year assured funding from lenders,” added McAfee.
Richard O’Brien, Mayor of the Metropolis of Riverbank stated:
The issuance of the ATC permits for the Aemetis SAF/RD plant is a major milestone within the improvement of the Riverbank Industrial Complicated that can assist scale back emissions and create a whole bunch of excessive worth native and regional jobs.
“Because the lead company for the CEQA and Use Allow that was issued final September, the Metropolis of Riverbank is happy to see assist from different regional and state businesses to maneuver this challenge ahead. This Aemetis challenge will make investments a whole bunch of hundreds of thousands of {dollars} into the native financial system, which can profit the residents of Riverbank in addition to staff and companies all through the area. As well as, this challenge will improve the air high quality within the Central Valley and scale back greenhouse gases,” stated O’Brien.
The 125-acre Riverbank Industrial Complicated has 100% renewable hydroelectricity; a rail line and storage for 120 railcars; 710,000 sq. ft of buildings; and 50 acres of developable industrial land. An settlement for the lease/sale of the Riverbank Industrial Complicated to a subsidiary of Aemetis was signed in December 2021.
The Aemetis 5 12 months Plan tasks that the Aemetis sustainable aviation gasoline and renewable diesel plant will generate $672 million of revenues with $195 million of adjusted EBITDA in 2027.
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable pure gasoline, renewable gasoline and biochemicals firm centered on the acquisition, improvement and commercialization of progressive applied sciences that exchange petroleum-based merchandise and scale back greenhouse gasoline emissions.
Based in 2006, Aemetis is working and actively increasing a California biogas digester community and pipeline system to transform dairy waste gasoline into Renewable Pure Fuel. Aemetis owns and operates a 65 million gallon per yr ethanol manufacturing facility in California’s Central Valley close to Modesto that provides about 80 dairies with animal feed.
Aemetis owns and operates a 60 million gallon per yr manufacturing facility on the East Coast of India producing top quality distilled biodiesel and refined glycerin for patrons in India and Europe.
Aemetis is growing the sustainable aviation gasoline (SAF) and renewable diesel gasoline biorefinery in California to make the most of renewable hydrogen, hydroelectric energy, and renewable oils to supply low carbon depth renewable jet and diesel gasoline. For added details about Aemetis, please go to www.aemetis.com.
Aemetis Receives Authority to Assemble Air Permits for Riverbank Sustainable Aviation Gas Plant, Cupertino, California, March 5, 2024
