CUPERTINO, CA -- (Marketwired) -- 07/18/16 -- Aemetis, Inc. (NASDAQ: AMTX) today announced that Eric McAfee, Chairman and CEO, accepted an invitation to join top Navy officials and a small group of leading biofuels executives in Hawaii on July 19th to participate as a guest of the US Navy in the Rim of the Pacific (RIMPAC), the world's largest international maritime exercise. The RIMPAC operation will demonstrate the coordination of military participants from 26 countries.
Mr. McAfee will fly via Osprey aircraft to land on a Naval ship at sea to observe biofuels refueling and other operations that represent significant milestones for the US Navy Great Green Fleet. Nine countries will be operating ships and equipment on alternative fuel blends, displaying how alternative energy and energy efficiency enable combat capability.
The RIMPAC 2016 exercise includes 45 ships, five submarines, more than 200 aircraft, and 25,000 personnel. RIMPAC provides a unique training opportunity that helps participants foster and sustain cooperative relationships that are critical to ensuring the safety of sea lanes and security on the world's oceans.
Aemetis owns and operates 110 million gallons per year of biofuels production capacity in California and India. "The pending acquisition of Edeniq and the recently licensed Lanzatech technology will enable Aemetis to produce low carbon, low cost cellulosic ethanol and hydrogen derived from agricultural waste, forest waste and even hazardous waste," said Mr. McAfee. "We plan to utilize the low cost hydrogen in the production of 100% drop-in renewable jet fuel, F-76 marine diesel and renewable diesel using the Chevron/ARA process that Aemetis licensed in 2011 as the first global licensee of the technology."
Jet aircraft testing of Chevron/ARA renewable jet fuel is underway this year, funded by the US Navy, and approval for use by the military is expected in early 2017. Photos and official comments related to RIMPAC will be posted on the Aemetis website later this week.
Headquartered in Cupertino, California, Aemetis is an advanced renewable fuels and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products by the conversion of first-generation ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, Aemetis owns and operates a 60 million gallon per year ethanol production facility in California's Central Valley, near Modesto. Aemetis also owns and operates a 50 million gallon per year distilled biodiesel and refined glycerin plant on the East Coast of India to supply customers in India and Europe. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals. For additional information about Aemetis, including the Company's corporate presentation and SEC filings, please visit www.aemetis.com.