Aemetis signs $3B, 10-year supply agreement for 450M gallons of renewable diesel with industry-leading travel stop company
Aemetis, a renewable fuels company focused on negative carbon intensity products (earlier post), has signed a 10-year, 450-million-gallon renewable diesel supply agreement with an industry-leading travel stop company, which is expected to generate more than $3 billion in revenue.
The renewable diesel to be supplied under the agreement will fuel an estimated 3.6 billion miles of heavy truck and cargo transportation.
This supply agreement represents the largest supply contract signed by Aemetis for our Riverbank Carbon Zero Plant. Combined with $2.1 billion of signed sustainable aviation fuel contracts, we have now signed more than $5 billion of binding offtake contracts related to the Riverbank production facility and also have MOUs signed with seven airlines for additional contracts.—Eric McAfee, the Founder, Chairman and CEO of Aemetis
The 90-million gallon per year Aemetis Carbon Zero sustainable aviation fuel and renewable diesel plant under development in two phases in Riverbank, California (earlier post) is designed to produce below zero carbon intensity renewable fuels. The design utilizes cellulosic hydrogen from waste forest and orchard wood along with onsite CO2 carbon sequestration and zero carbon intensity hydroelectric electricity.
The demand for renewable diesel has increased as a result of policies including the California Low Carbon Fuel Standards and the federal Renewable Fuel Standard that require reductions in carbon emissions from transportation.
The Aemetis Carbon Zero plant is being built on the 125-acre former US Army Ammunition plant in Riverbank, California. The industrial site has 710,000 s.f. of existing production and office buildings, a 125-car railroad with ladder tracks, and a 22 megawatt power substation with high capacity power lines delivering hydroelectric power to the site.
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel, and biochemicals company focused on the acquisition, development, and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).
Aemetis also owns and operates a 65-million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 50-million gallon per year production facility on the East Coast of India, producing high-quality distilled biodiesel and refined glycerin for customers in India and Europe.
Aemetis is developing the Carbon Zero Sustainable Aviation Fuel (SAF) and renewable diesel fuel biorefineries in California from renewable oils along with orchard and forest waste.