Gasoline to be Delivered to San Francisco Worldwide Airport
CUPERTINO, CA, Sept. 19, 2022 (GLOBE NEWSWIRE) — by way of NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable fuels firm targeted on adverse carbon depth merchandise, introduced at present the quantity of an offtake settlement that has been signed with Cathay Pacific Airways Restricted (“Cathay Pacific”) for 38 million gallons of blended sustainable aviation gas (“SAF”) to be delivered over the 7 12 months time period of the settlement.
Sustainable aviation gas offers important environmental advantages in comparison with petroleum jet gas, together with a decrease lifecycle carbon footprint and decreased contrails. The blended sustainable aviation gas to be equipped underneath this settlement is 40% SAF and 60% Petroleum Jet A to satisfy worldwide mixing requirements.
The availability settlement with Aemetis builds on Cathay Pacific’s ongoing dedication in direction of assembly its net-zero carbon emissions goal by 2050. Cathay Pacific plans to make use of SAF for 10 % of its whole gas consumption by 2030. The settlement additionally underlines oneworld Alliance’s dedication to collectively supply SAF. Cathay Pacific is a founding member today techs of the oneworld Alliance.
Cathay Pacific is the house airline of Hong Kong, providing scheduled passenger and cargo companies to locations in Asia, North America, Australia, Europe and Africa. The Cathay Pacific Group additionally today techs includes low-cost airline HK Specific and specific freighter airline Air Hong Kong. Cathay Pacific is a member of the Swire Group and is listed on the Hong Kong Inventory Alternate (HKSE).
The sustainable aviation gas is anticipated to be produced by the Aemetis renewable jet/diesel plant underneath growth on a 125 acre former U.S. Military Ammunition manufacturing plant web site in Riverbank, California. The blended sustainable aviation gas is scheduled to start deliveries to Cathay Pacific in 2025.
“Using sustainable aviation gas by Cathay Pacific is one other step by the oneworld Alliance towards reducing the environmental influence of aviation,” acknowledged Eric McAfee, Chairman and CEO of Aemetis. “Sustainable aviation gas is an instantaneous answer to the decarbonization of air journey and cargo flights, with out requiring intensive new fueling infrastructure or the costly substitute of planes.”
Powered by 100% renewable electrical energy, the Aemetis Carbon Zero manufacturing plant design makes use of renewable hydrogen. The renewable hydrogen is used to hydrotreat vegetable and different renewable oils to provide renewable aviation and diesel gas.
To additional cut back carbon depth, the Aemetis Carbon Zero design contains capturing CO2 from the manufacturing plant and injecting the compressed CO2 right into a sequestration nicely on the Riverbank web site. The undertaking is designed to completely retailer an estimated 300,000 metric tonnes of CO2 annually from the plant.
Aemetis has a mission to remodel renewable vitality with beneath zero carbon depth transportation fuels. Aemetis has launched the Carbon Zero manufacturing course of to decarbonize the transportation sector utilizing at present’s infrastructure.
Aemetis Carbon Zero merchandise embrace zero carbon fuels that may “drop in” for use in airplane, truck, and ship fleets. Aemetis low-carbon fuels have considerably decreased carbon depth in comparison with customary petroleum fossil-based fuels throughout their lifecycle.
Headquartered in Cupertino, California, Aemetis is a renewable pure fuel, renewable gas and biochemicals firm targeted on the acquisition, growth and commercialization of revolutionary applied sciences that exchange petroleum-based merchandise and cut back greenhouse fuel emissions. Based in 2006, Aemetis has accomplished Part 1 and is increasing a California today techs biogas digester community and pipeline system to transform dairy waste fuel into Renewable Pure Gasoline. Aemetis owns and operates a 65 million gallon per 12 months ethanol manufacturing facility in California’s Central Valley close to Modesto that provides about 80 dairies with animal feed. Aemetis additionally owns and operates a 50 million gallon per 12 months manufacturing facility on the East Coast of India producing prime quality distilled biodiesel and refined glycerin for patrons in India and Europe. Aemetis is creating the Carbon Zero sustainable aviation gas (SAF) and renewable diesel gas biorefineries in California to make the most of distillers corn oil and different renewable oils to provide low carbon depth renewable jet and diesel gas utilizing cellulosic hydrogen from waste orchard and forest wooden, whereas pre-extracting cellulosic sugars from the waste wooden to be processed into excessive today techs worth cellulosic ethanol on the Keyes plant. Aemetis holds a portfolio of patents and unique expertise licenses to provide renewable fuels and biochemicals. For added details about Aemetis, please go to www.aemetis.com.
Protected Harbor Assertion
This information launch incorporates forward-looking statements, together with statements relating to assumptions, projections, expectations, targets, intentions or beliefs about future occasions or different statements that aren’t historic info. Ahead-looking statements on this information launch embrace, with out limitation, statements referring to the event and building of the sustainable aviation and renewable diesel gas tasks our compliance with governmental applications, and our potential to entry markets and funding to execute our marketing strategy. Phrases or phrases resembling “anticipates,” “might,” “will,” “ought to,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “tasks,” “displaying indicators,” “targets,” “view,” “will doubtless consequence,” “will proceed” or related expressions are supposed to establish forward-looking statements. These forward-looking statements are primarily based on present assumptions and predictions and are topic to quite a few dangers and uncertainties. Precise outcomes or occasions may differ materially from these set forth or implied by such forward-looking statements and associated assumptions attributable to sure elements, together with, with out limitation, competitors within the ethanol, biodiesel and different industries wherein we function, commodity market dangers together with those who might consequence from present climate circumstances, monetary market dangers, buyer adoption, counter-party dangers, dangers related to modifications to federal coverage or regulation, and different dangers detailed in our experiences filed with the Securities and Alternate Fee, together with our Annual Report on Type 10-Okay for the 12 months ended December today techs 31, 2020 and in our subsequent filings with the SEC. We aren’t obligated, and don’t intend, to replace any of those forward-looking statements at any time except an replace is required by relevant securities legal guidelines.
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