On June 14, 2021, Aemetis, Inc. signed an estimated USD 200 million biofuels offtake agreement of low carbon biofuels with an international supplier of renewable fuels Murex, LLC which is to be delivered during 2021 to 2023. The agreement’s terms provide that the fuel and Renewable Fuel Standard Credits and the related Low Carbon Fuel Standard at the time of delivery will be sold at a fixed discount to the market price.
Aemetis has been demonstrating its excellence in the complex projects management for meeting high standards required by California regulators and customers by introducing new technologies which would reduce the carbon intensity of the traditional renewable fuels. Murex, through their established railcar and terminal network has been uniquely positioned to maximize the value of low carbon fuels.
Through the pact, Aemetis is aiming to implement energy efficiency to its Keyes, California biorefinery by converting the plant to utilize solar and other below or zero carbon intensity energy sources instead of high carbon intensity petroleum gas which would significantly reduce the carbon footprint of the biorefinery. As per the company, the plant would produce the lowest carbon intensity Ethanol in the world. Several energy efficiency upgrades include installation of solar microgrid with battery storage which will help power the Mitsubishi ZEBREX Membrane Dehydration System and a mechanical vapor recompression system.
Murex, founded 30 years ago and based in Plano, Texas, is a company engaged in renewable fuels marketing, terminal, logistics and supply with assets and operations all over North America. Aemetis’ goal is to reduce the use of petroleum natural gas in the plant due to the completion of these upgrade projects over the next 12 months. The Keyes plant once starts utilizing renewable electricity instead of petroleum natural gas, might be producing the lowest carbon intensity in the world. The California Energy Commission and Pacific Gas & Electric Company supported the Aemetis plant upgrades with USD 16.7 million.
