CUPERTINO, CA / ACCESSWIRE / August 4, 2017 / Aemetis, Inc. (NASDAQ: AMTX) announced today that it has signed a Master Agreement with key exclusive rights for the use of an advanced gasification technology from InEnTec, Inc. of Richland, Washington to produce cellulosic ethanol. The InEnTec gasification technology agreement is a key part of Aemetis' strategy to produce high value, low carbon cellulosic ethanol from locally sourced biomass by integrating InEnTec's patented advanced gasification technology with LanzaTech's patented microbial fermentation technology.
InEnTec has successfully installed 13 units worldwide since 1995. More than $130 million was invested in the development of the InEnTec gasification technology. InEnTec's technology was developed at MIT and the Pacific Northwest National Laboratory with the support of the US Department of Energy.
Under the Master Agreement, Aemetis has predominant exclusive rights to use the InEnTec gasification equipment and technology for cellulosic ethanol production until 2024. The gasification technology complements Aemetis' current license with LanzaTech for syngas-to-ethanol conversion, providing Aemetis with a complete technology solution to produce locally sourced, low carbon cellulosic ethanol. "The high quality syngas produced by the InEnTec advanced gasifier feeds LanzaTech's patented microbe and reactor system to generate high yields of low cost cellulosic ethanol," stated Eric McAfee, Chairman and CEO of Aemetis. "This combination of technologies provides Aemetis with exclusive technology rights to a patent-protected and high value production process."
Cellulosic ethanol significantly reduces transportation carbon emissions and under California's Low Carbon Fuel Standard will qualify Aemetis for a far lower carbon intensity score than conventional ethanol. Cellulosic ethanol reduces greenhouse gas emissions by approximately 80% compared to gasoline.
Under the federal Renewable Fuel Standard that was enacted in 2007, the cellulosic ethanol production mandate limit increases each year to up to 16 billion gallons per year by 2022. The current market price of cellulosic ethanol sold in California is estimated to be $4.50 per gallon, about $3.00 more per gallon than conventional ethanol.
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced renewable fuels and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products by the conversion of second-generation ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, Aemetis owns and operates a 60 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, the US and Europe. 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, Aemetis integration of InEnTec’s patented advanced gasification technology and qualification of lower carbon intensity scores under California Low Carbon Fuel Standard. . Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "showing signs," "targets," "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, 2016, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 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
[email protected]
Investor Relations/Media Contact:
Satya Chillara
(408) 213-0939
[email protected]
SOURCE: Aemetis, Inc.