Aemetis, Inc., a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products, today announced receipt of the Authority to Construct (ATC) air permits for its planned sustainable aviation fuel (SAF) and renewable diesel (RD) production plant in Riverbank, California, according to a news release.
The plant is designed to produce 90 million gallons per year when allocating 50% to SAF and 50% to renewable diesel production, and 78 million gallons per year when allocating 100% of production to SAF for the aviation market.
The Authority to Construct permits were issued by the San Joaquin Valley Air Pollution Control District following an extensive technical review and two public comment periods. In September 2023, Aemetis received approval from the City of Riverbank for the Use Permit and California Environmental Quality Act (CEQA) review after a separate technical review and public comment process. Together, these permits are the key permits needed for Aemetis to proceed with engineering and financing to construct the plant.
“Building our sustainable aviation fuel business is a high priority to meet rapidly increasing global demand for SAF from airlines,” said Eric McAfee, Chairman and CEO of Aemetis. “Achieving this essential permitting milestone is a critical step in advancing the project to financing, procurement, and construction. Reflecting the positive environment for replacing petroleum jet fuel with SAF, the $380 billion Inflation Reduction Act includes specific SAF tax credits to support this type of project, and the USDA has provided financing support for other Aemetis renewable fuels projects to enable attractive 20-year guaranteed funding from lenders,” added McAfee.
The 125-acre Riverbank Industrial Complex has 100% renewable hydroelectricity; a rail line and storage for 120 railcars; 710,000 square feet of buildings; and 50 acres of developable industrial land. An agreement for the lease/sale of the Riverbank Industrial Complex to a subsidiary of Aemetis was signed in December 2021.
The Aemetis Five Year Plan projects that the Aemetis sustainable aviation fuel and renewable diesel plant will generate $672 million of revenues with $195 million of adjusted EBITDA in 2027.
