CUPERTINO, CA / ACCESSWIRE / March 16, 2018 / Aemetis, Inc. (NASDAQ: AMTX) announced today that its Universal Biofuels subsidiary in India has completed the construction of an advanced biodiesel pre-treatment unit to process the low-cost feedstocks to be provided to the plant under the BP Singapore Pte Limited (BPS) supply agreement into low carbon high-quality distilled biodiesel. The new pre-treatment unit allows the use of high Free Fatty Acid waste feedstocks by Universal Biofuels while meeting the biodiesel quality standards set by international fuel standards. The advanced biodiesel pre-treatment unit was built to supply biodiesel to the EU and US under the three-year supply agreement signed with BPS in May of 2017.
"The completion of the advanced biodiesel pre-treatment unit enables the team to focus on commissioning and processing BP's low-cost feedstocks provided under the BPS supply agreement to produce and sell low carbon high-quality biodiesel into international markets," stated Eric McAfee, Chairman and CEO of Aemetis. "We expect to receive feedstock and begin production in April with shipments to BPS to begin in the second quarter of 2018."
The Aemetis plant in Kakinada, Andhra Pradesh, India has a capacity of 50 million gallons per year and is the first and only India biofuels producer approved under the Low Carbon Fuel Standard for delivery of biodiesel into California. In April 2017, Aemetis filed a patent on process technology developed at the Kakinada plant for the conversion of a wide range of waste feedstocks into biodiesel.
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 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 operates a research and development laboratory, and 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 the production or effectiveness of the biodiesel pretreatement unit, the operation of Aemetis's Kakinada plant and the commencement of delivery of biodiesel under the BPS supply agreement. 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, 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.
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SOURCE: Aemetis, Inc.