RNG company Aemetis has received approval by US Citizenship and Immigration Services (USCIS) of $200 million (€184.8 million) of EB-5 programme investment for its Riverbank sustainable aviation fuel (SAF) production plant, the dairy renewable natural gas (RNG) project, the carbon sequestration project and energy efficiency upgrades to the Keyes ethanol plant.
The Riverbank plant was recently granted Authority to Construct (ATC) air permits and is designed to produce 78 million gallons per year of SAF for the aviation market.
Aemetis has already secured more than $3 billion (€2.7 billion) of contracts to supply airlines with SAF.
“This $200 million (€184.8 million) of funding provides attractive terms at a low interest rate to fund our projects, including the dairy renewable natural gas project and the sustainable aviation fuel plant to meet rapidly increasing global demand for SAF from airlines,” said Eric McAfee, chairman and CEO of Aemetis.
“This EB-5 funding, the 20-year USDA guaranteed loans, and other financings support the continued growth of the company as set forth in the Aemetis Five Year Plan,” he added.
According to the determinations made by the USCIS, the Regional Center presented evidence asserting that 245 qualified investors will invest $200 million in EB-5 capital into Advanced Bioenergy II, the new commercial enterprise (NCE).
The NCE will invest in Aemetis Advanced Products Keyes, the job creating entity (JCE).
The JCE intends to expand the existing 65 million gallon per year Aemetis ethanol plant in Keyes, California by the engineering, permitting, construction and operation of upgrades to the ethanol plant for improved energy efficiency and increased production, including the installation of solar panels, mechanical vapour recompression,and the use of sugars from waste forest and orchard wood to replace corn sugars for biofuels production.
It also entails the dairy Renewable Natural Gas (RNG) system that includes dairy digesters, a gas pipeline, a central facility to convert biogas to renewable natural gas, RNG fueling stations and an interconnection facility to the utility gas pipeline.
As well as that, a biofuels production facility that uses the distillers oil product of the ethanol plant and other renewable oils to produce SAF and RD will be installed; alongside a well that sequesters carbon in the form of CO2 emitted by the production processes and other CO2 emissions collected in the area.
The Project’s two primary locations are the Aemetis Advanced Fuels Keyes 65 million gallon per year ethanol plant and the Riverbank Industrial Complex.
The USCIS found that the Aemetis projects are both located within high unemployment areas.
Aemitis receives $200 million investment
