Greater Commercial Lending has completed its second $25m loan for the Aemetis Biogas Central Dairy Digester Project, according to a news release.
The first $25 million loan was completed in October 2022.
Magnolia Bank of Elizabethtown, Kentucky provided the primary funding for the loan, which was made to Aemetis Biogas 2, a wholly owned subsidiary of Aemetis.
The Hydrogen Source reported in February that Aemetis had $1.2bn in biogas and sustainable aviation fuel (SAF) projects in development. The Riverbank SAF plant in California will be fully engineered and permitted this year.
The loan, guaranteed by the U.S. Department of Agriculture (USDA) through the Rural Energy for America Program (REAP), will finance the construction of biogas digesters and related assets for eight dairies located in Stanislaus County and Merced County, California.
The digesters capture biomethane from animal waste, which is delivered via pipeline to a central facility that converts the biogas into RNG for use as a transportation fuel.
The second phase of the project will expand Aemetis Biogas from its current seven operational dairy digesters to biogas digesters at 15 dairies, supplying an estimated 400,000 MMBtu per year.
