Aemetis secures $200 million for renewable fuel projects – EQ
In Short : Aemetis has successfully secured $200 million to fund its renewable fuel projects, signaling a significant step forward in its efforts to expand renewable energy initiatives.
In Detail : CUPERTINO, CA : Aemetis, Inc. (NASDAQ: AMTX), a company specializing in renewable natural gas (RNG) and renewable fuels, has received approval for a $200 million investment under the EB-5 program. This funding is earmarked for several projects, including the Riverbank sustainable aviation fuel (SAF) production plant and a dairy RNG initiative.
The U.S. Citizenship and Immigration Services (USCIS) approved the investment for Aemetis’ Riverbank plant, which has been granted the Authority to Construct air permits and is expected to produce 78 million gallons of SAF yearly. Aemetis has secured over $3 billion in contracts to supply airlines with SAF, highlighting the growing demand for low-carbon aviation fuel.
The EB-5 funding is part of a financial strategy that includes 20-year USDA-guaranteed loans, supporting the company’s expansion plans outlined in the Aemetis Five-Year Plan. The investment will also contribute to energy efficiency upgrades at the Keyes ethanol plant.
The USCIS determination allows for 245 investors to contribute a total of $200 million to Advanced Bioenergy II, a new commercial enterprise that will fund Aemetis Advanced Products Keyes, the job-creating entity.
The entity plans to enhance the existing Keyes ethanol plant’s production and energy efficiency, including the installation of solar panels and the use of renewable sources for biofuel production. Additionally, the funding will support the development of a dairy RNG system, a biofuel production facility for SAF and renewable diesel, and a carbon capture well.
Both the Aemetis ethanol plant and the Riverbank Industrial Complex, the project’s primary locations, are situated in areas of high unemployment. To date, eight investors have contributed $4 million, with 245 additional investors now approved to invest at $800,000 each, totaling $200 million under the EB-5 program.
