Aemetis Announces Support for Updated Low Carbon Fuel Standard and Encourages CARB Adoption on November 8th
Greenhouse Gas Reduction Goals Improve Health and the Environment in California While Supporting New Investment in Renewable Energy
CUPERTINO, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ:AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products, today announced strong support for the updated Low Carbon Fuel Standard ("LCFS") proposal and strongly urges its adoption by the California Air Resources Board ("CARB") at its meeting on November 8, 2024.
"CARB has shown that the LCFS is a highly effective program to reduce greenhouse gas emissions and improve air quality in California," stated Eric McAfee, Chairman and CEO of Aemetis. "We look forward to the adoption of 20 years of new LCFS goals which support the decarbonization of transportation in California while also generating new jobs and billions of dollars of investment. Working together, CARB, unions, agriculture, industry, and impacted communities can strengthen the LCFS and create positive outcomes for California's citizens and the state's environment. We applaud CARB's staff for their work and urge the Board to quickly adopt the updated LCFS," added McAfee.
The updated LCFS supports CARB's goals for 2045, which are expected to improve air quality for disadvantaged communities located near air pollution emissions sources, reduce greenhouse gas emissions by 85%, create more than 4 million jobs, and save Californians billions of dollars in health costs associated with pollution.
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively 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 owns and operates a 60 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 a sustainable aviation fuel (SAF) and renewable diesel fuel biorefinery in California to utilize renewable hydrogen, hydroelectric power, and renewable oils to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com.
Safe Harbor Statement
This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2024 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biodiesel, biogas, SAF and renewable diesel, and carbon sequestration facilities; and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals. 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 Reports on Form 10-K, and in our other 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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