Aemetis Completes Installation of $12 million, 3 MW Solar Microgrid with Battery Storage and AI Energy Management System at Keyes Biofuels Plant

May 16, 2024 - Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products, today announced that the installation of a $12 million, 3 megawatt solar microgrid with battery storage and an AI energy management system has been completed at the Keyes ethanol plant. TotalEnergies was the project developer who provided the PV solar technology, and also built and commissioned the system. Schneider Electric provided the electrical and battery storage equipment.  Aemetis is the owner and operator of the entire AI-enabled solar microgrid and battery storage system.

The solar array and battery storage system will reduce the amount of grid electricity purchased during the high-cost peak periods in the late afternoon and early evening by capturing and storing solar energy during mid-day in the battery storage, then delivering the electricity from the battery storage system to the plant during peak hours.

"This large integrated solar and battery storage system is a key step in the conversion of the Keyes ethanol plant to renewable electricity from petroleum natural gas," stated Eric McAfee, Chairman and Chief Executive Officer of Aemetis, Inc. "We appreciate funding support from the California Energy Commission, as well as the positive working relationship with TotalEnergies as the general contractor during design, construction, and commissioning."

"TotalEnergies is proud to support the ambition of Aemetis, which is demonstrating, through this project, how the manufacturing sector can play a key role in the decarbonization of energy and reduction of greenhouse gas emissions in California," said Eric Potts, Vice President at TotalEnergies Renewables USA. "This new system integrating solar energy production and battery storage, managed by AI software, demonstrates our ability to deliver green energy solutions that maximize energy production and minimize energy costs for our clients."

"Schneider Electric appreciates the talented team at Aemetis who worked closely with us to achieve this significant conversion of the Keyes plant to the use of solar energy," said Jana Gerber, Schneider Electric's President of North America Microgrids.  "Aemetis is building projects that show leadership in the reduction of the carbon intensity of renewable fuels, and we are excited to be engaged with Aemetis at the Keyes plant and as a potential supplier of equipment for the electrical substation at the Aemetis Sustainable Aviation Fuel plant in Riverbank."

The California Energy Commission provided an $8 million grant to support the construction of the solar array, battery storage and AI energy management system.

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the operation, acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing the sustainable aviation fuel (SAF) and renewable diesel fuel biorefinery in California to utilize renewable hydrogen, hydroelectric power, and renewable oils to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com.

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2024 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals. Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "showing signs," "targets," "view," "will likely result," "will continue" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

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