Aemetis Announces Expanded, Global Renewable Jet and Diesel Fuel Technology License Agreement with Chevron Lummus Global
Biofuels ISOCONVERSION process licensed by Aemetis to produce 100% replacement renewable jet and diesel fuels from plant and algal oils
CUPERTINO, Calif.--(BUSINESS WIRE)-- Aemetis, Inc. (OTCPK: AMTX), an advanced fuels and renewable chemical company, announced today that the company signed an expanded, global license agreement with Chevron Lummus Global (CLG) for the inexpensive, rapid production of renewable jet and diesel fuel by the conversion of existing biofuels and petroleum refineries. The expanded license agreement grants Aemetis Advanced Fuels, Inc., a wholly-owned subsidiary of Aemetis, the use of the Biofuels ISOCONVERSION process to produce fuels that meet the necessary ASTM requirements for 100% replacement, renewable jet fuel and diesel in Aemetis biorefineries and joint ventures throughout the world.
Unlike most other process technologies, the renewable fuels produced by this process are fungible replacements for petroleum-based jet and diesel fuel. The Biofuels ISOCONVERSION process includes patented Catalytic Hydrothermolysis (CH) reactor technology, developed by Applied Research Associates (ARA), which utilizes water as a catalyst to quickly and inexpensively convert plant and algal oils into stable intermediate oil products, which are very similar to petroleum crude oil. The intermediate oils are processed with hydrogen using CLG's ISOCONVERSION™ catalysts to produce renewable jet fuel and diesel.
"This agreement includes a Master Services Agreement for CLG and ARA Engineering Services and expands the use of this unique, low cost refining process beyond North America to global jet and diesel fuels production, including the upgrade of the existing 50 million gallon per year Aemetis biodiesel plant in Kakinada, India and other Aemetis projects worldwide," said Leon de Bruyn, Managing Director of Chevron Lummus Global.
"This agreement will enable Aemetis to produce and deliver 100% drop-in alternative jet and diesel fuels with lower capital and operating costs than existing technologies, meeting commercial and military demand in Europe, Asia and other regions," stated Chuck Red, Biofuels Program Manager for ARA.
"The refining technology developed by Chevron Lummus Global and ARA produces lower-cost, renewable replacements for existing petroleum products," said Eric McAfee, Chairman and CEO of Aemetis. "As global fuel supply chains seek to become less dependent on crude oil due to supply and price uncertainty, the availability of replacement jet and diesel fuel from sustainable, renewable feedstocks will be rapidly adopted as a primary source of storable, transportable, dense energy for military and commercial operations."
Aemetis, Inc. is an advanced fuels and renewable chemicals company headquartered in Cupertino, California. Aemetis owns and operates a 55 million gallon renewable fuels plant in California; and built, owns and operates a 50 million gallon capacity renewable chemicals and advanced fuels production facility on the east coast of India. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds five granted patents and nine pending patents on its Z-microbe and related technology for the production of renewable fuels and chemicals. For additional information about Aemetis, please visit www.aemetis.com.
About Chevron Lummus Global
CLG licenses refining hydroprocessing technologies and catalyst systems worldwide, and is a 50-50 joint venture between Chevron Products Company, a wholly owned subsidiary of Chevron Corporation, and Lummus Technology, a CB&I business sector.
Applied Research Associates, Inc. (ARA) is an employee-owned, international research and engineering company recognized for providing technically excellent solutions to complex and challenging problems in the physical sciences.
Andy Foster, 408-213-0928
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Investor & Analyst Contact:
Todd Waltz, 408-213-0925
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