Aemetis Plans $130 Million Funding Under Newly Expanded Stanislaus County C-PACE Program
NEWMEDIAWIRE) - Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity renewable fuels, announced today that the Stanislaus County Board of Supervisors unanimously approved an extension of the County's Commercial Property Assessed Clean Energy (C-PACE) program at its March 11, 2025, meeting. Established by the approval of local governments, C-PACE programs can be used by private industry to finance energy efficiency upgrades and renewable energy facilities.
'We appreciate the Board and staff of Stanislaus County for their support of the C-PACE program in Stanislaus County that we expect to help Aemetis fund energy efficiency and renewable energy projects and refinance recently completed projects,' stated Eric McAfee, chairman and CEO of Aemetis. 'The C-PACE program provides longer 30 year terms and repayment through property tax bills so provides a new source of capital for growing our business.'
Stanislaus County's recent action approves participation in the California Enterprise Development Authority, which allows financing of private projects through state municipal bonds that are free of state taxes to the lenders. In addition, payments through County property tax bills provide lenders enhanced protections and liquidity, helping raise funds for qualifying projects.
Aemetis renewable energy and energy efficiency projects expected to be eligible for C-PACE financing include the Keyes plant mechanical vapor recompression system, the expansion of dairy renewable natural gas production, and the planned Riverbank Sustainable Aviation Fuel plant, as well as refinancing of the recently completed Keyes solar generation system and renewable natural gas upgrading hub.
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development and commercialization of innovative technologies that replace petroleum 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 an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California, renewable hydrogen, and hydroelectric power 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 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. 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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