Aemetis Successfully Completes Testing of $12 million Dairy Biogas-to-RNG Upgrading Facility and Produces Renewable Natural Gas

PG&E Completing Pipeline Interconnection Unit Tests; Injection of RNG Expected in May

CUPERTINO, CA - (NewMediaWire) - April 07, 2022 - Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas (RNG) and renewable fuels company focused on negative carbon intensity products, announced that its Aemetis Biogas subsidiary achieved a significant milestone by successfully completing testing of the $12 million dairy biogas-to-RNG upgrading and compression facility for the Aemetis Biogas Dairy Digester Project in California.  The biogas upgrading unit is co-located at the Aemetis Advanced Fuels Keyes ethanol plant near Modesto, California and adjacent to the utility natural gas pipeline. 

“Completing the construction and successful testing of the biogas upgrading and compression facility is a significant milestone which will allow Aemetis to sell -426 carbon intensity RNG to fleet customers across California,” stated Eric McAfee, Chairman and CEO of Aemetis.  “In addition to our two operating dairy digesters and 16 miles of biogas pipeline, Aemetis continues to be on schedule to add five dairy digesters to our network this summer to meet increasing demand for lower cost, low emission, carbon negative RNG to replace petroleum diesel in trucks, buses and other heavy transport vehicles.”

The full system mechanical commissioning process for the biogas-to-RNG facility has been completed.  Pacific Gas & Electric (PG&E) is now conducting final tests of the utility gas pipeline interconnection unit that is already constructed, which will enable the injection of utility-grade renewable natural gas into the PG&E gas pipeline for delivery to customers.  

Site development, engineering, permitting, construction and successful operational testing of the Aemetis biogas upgrading facility and the PG&E interconnection unit was achieved over a three-year period within the original project budget.

When fully built out, the planned 60+ dairies in the estimated $380 million Aemetis biogas project are expected to capture more than 1.6 million MMBtu of dairy methane and reduce greenhouse gas emissions equivalent to an estimated 5 million metric tonnes of CO2each year, equal to removing the CO2 emissions from more than 1 million cars per year.                                                                                                                                 

About Aemetis

Aemetis has a mission to transform renewable energy with below zero carbon intensity transportation fuels. Aemetis has launched the Carbon Zero production process to decarbonize the transportation sector using today’s infrastructure. 

Aemetis Carbon Zero products include zero carbon fuels that can “drop in” to be used in airplane, truck, and ship fleets. Aemetis low-carbon fuels have substantially reduced carbon intensity 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 petroleum-based products and reduce greenhouse gas emissions. 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. 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 sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce 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 development and construction of the biogas upgrading and compression facility, construction and operation of the biogas pipeline, construction of dairy digesters, our compliance with governmental programs, and our ability to access markets and funding to execute our business plan.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “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, 2021 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                                                                                               

ksmith@pcgadvisory.com  

Company Investor Relations Media Contact:

Todd Waltz

(408) 213-0940