CUPERTINO, CA--October 19, 2012: Aemetis, Inc. (OTCPK: AMTX), an advanced fuels and renewable chemical company, announced today that the company signed an expanded, global license agreement with Chevron Lummus Global (CLG) for the inexpensive, rapid production of renewable jet and diesel fuel by the conversion of existing biofuels and petroleum refineries. The expanded license agreement grants Aemetis Advanced Fuels, Inc., a wholly-owned subsidiary of Aemetis, the use of the Biofuels ISOCONVERSION process to produce fuels that meet the necessary ASTM requirements for 100% replacement, renewable jet fuel and diesel in Aemetis biorefineries and joint ventures throughout the world.
“This agreement will enable Aemetis to produce and deliver 100% drop-in alternative jet and diesel fuels with lower capital and operating costs than existing technologies, meeting commercial and military demand in Europe, Asia and other regions”
Unlike most other process technologies, the renewable fuels produced by this process are fungible replacements for petroleum-based jet and diesel fuel. The Biofuels ISOCONVERSION process includes patented Catalytic Hydrothermolysis (CH) reactor technology, developed by Applied Research Associates (ARA), which utilizes water as a catalyst to quickly and inexpensively convert plant and algal oils into stable intermediate oil products, which are very similar to petroleum crude oil. The intermediate oils are processed with hydrogen using CLG's ISOCONVERSION catalysts to produce renewable jet fuel and diesel.
"This agreement includes a Master Services Agreement for CLG and ARA Engineering Services and expands the use of this unique, low cost refining process beyond North America to global jet and diesel fuels production, including the upgrade of the existing 50 million gallon per year Aemetis biodiesel plant in Kakinada, India and other Aemetis projects worldwide," said Leon de Bruyn, Managing Director of Chevron Lummus Global.
"This agreement will enable Aemetis to produce and deliver 100% drop-in alternative jet and diesel fuels with lower capital and operating costs than existing technologies, meeting commercial and military demand in Europe, Asia and other regions," stated Chuck Red, Biofuels Program Manager for ARA.
"The refining technology developed by Chevron Lummus Global and ARA produces lower-cost, renewable replacements for existing petroleum products," said Eric McAfee, Chairman and CEO of Aemetis. "As global fuel supply chains seek to become less dependent on crude oil due to supply and price uncertainty, the availability of replacement jet and diesel fuel from sustainable, renewable feedstocks will be rapidly adopted as a primary source of storable, transportable, dense energy for military and commercial operations."