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Aemetis Signs Agreement to Purchase 125-Acre Former U.S. Army Facility to Produce Sustainable Aviation Fuel and Renewable Diesel
Aemetis contracts with the city of Riverbank, California for lease/purchase of an industrial site with 710,000 square feet of production buildings, four miles
About this update from Aemetis, Inc
[{"type":"text","content":"Aemetis contracts with the city of Riverbank, California for lease/purchase of an industrial site with 710,000 square feet of production buildings, four miles of railroad, and power substation CUPERTINO, Calif., Dec. 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a leading producer of dairy Renewable Natural Gas (RNG) and developer of the \"Carbon Zero\" renewable jet/diesel biorefineries, announced today it signed a Master Developer Agreement with the City of Riverbank to lease/purchase the 125-acre former military base in Riverbank, California known as the Riverbank Industrial Complex. The Riverbank facility features 710,000 square feet of existing buildings, a four-mile railroad loop with 120 railcar storage capacity, and an onsite hydroelectric substation with 100% low carbon hydroelectric power. The site has received more than $72 million of federal funding for facility upgrades and remediation since being decommissioned as an army base. Aemetis plans to build the \"Carbon Zero 1\" sustainable aviation fuel and renewable diesel biorefinery at the site. The plant is designed to use hydroelectric and other renewable power available onsite to produce 90 million gallons per year of sustainable aviation fuel, renewable diesel, and other byproducts. The plant is expected to supply the aviation and truck markets with ultra-low carbon renewable fuels to reduce greenhouse gas (GHG) emissions and other pollutants associated with conventional petroleum-based fuels. The Riverbank Industrial Complex was an ammunition production facility employing about 3,500 people and has been converted to civilian use, including approximately 35 companies employing around 650 people. Under the terms of the Master Developer Agreement and as the owner of the properties as parcels are transferred, Aemetis will manage current tenants, utilize existing production facilities for new tenants or as production facilities, and develop vacant portions of the site with planned renewable fuels and carbon sequestration facilities. A federal job study estimated 2,014 direct and indirect jobs will be created as a result of developing the Aemetis biofuels plant. \"This project, from staff's perspective, has significant potential to create an industrial job center for not only Riverbank, but the whole region,\" said City Manager Sean Scul...