Aemetis Biogas Achieves Revenue Milestones by Generating Federal RINs and Filing California LCFS Pathway to Begin RNG Revenues in June 2023

Renewable natural gas stored underground during Q4 2022 through Q2 2023 scheduled to begin generating revenues in June 2023; Positive cash flow from biogas expected in Q3 2023

CUPERTINO, CA, June 05, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, announced today that its Aemetis Biogas subsidiary generated federal D3 Renewable Identification Numbers (D3 RINs) from the EPA under the Renewable Fuel Standard (RFS) for the first time and has filed to generate California Low Carbon Fuel Standard (LCFS) credits for Renewable Natural Gas (RNG) that was delivered to heavy transportation customers starting in late May 2023.

“D3 Cellulosic RIN’s are the most valuable type of federal renewable fuels credit and the LCFS Temporary Pathway filing enables Aemetis Biogas to sell RNG to trucking companies to displace petroleum diesel,” stated Andy Foster, President of Aemetis Biogas.  “Aemetis Biogas has already built and now is operating 40 miles of biogas pipeline, a central biogas-to-RNG production facility, a PG&E utility gas pipeline interconnection, and seven dairy digesters that are producing biogas.”

“We have five dairy digesters under construction and an additional 25 digesters in various stages of development,” said Eric McAfee, Chairman and CEO of Aemetis, Inc. “Generating valuable D3 RINs and filing for LCFS Temporary Pathway credit revenues are the two most important revenue milestones for the dairy RNG project since we started engineering and permitting work in 2018, allowing us to expect positive cash flow from biogas beginning in the third quarter of this year.”

The Aemetis Biogas project is managed by a recently installed Allen Bradley Decision Control System (DCS) with Artificial Intelligence (AI) energy and process management capabilities.  The integrated, on-site and remote management of the Aemetis Biogas network of dairy digesters supports the rapid addition of dairy digesters to the 40-mile Aemetis pipeline and Biogas-to-RNG system with utility interconnect.

The Aemetis Biogas network of dairy digesters in Stanislaus and Merced Counties of California, and the AI Decision Control System, is partially funded by more than $25 million of grants awarded by the California Department of Food & Ag, California Energy Commission, and the PG&E utility.

Aemetis Biogas has received loan guarantee commitments for 20-year project development loans from the US Department of Agriculture under the Renewable Energy for America Program (REAP).  Four loans for a total of $100 million of additional USDA REAP funding is in process to fund the next phases of a total of 60 dairy digesters scheduled to be built in the next sixty months.