Advanced Technology for Fossil Fuel Oil Extraction Project

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Press Release

February, 2020
$18 million of California State Grants Benefit EB-5 Project

Aemetis Advanced Fuels Keyes, Inc. (AAFK) and it's related entities have received from the California Energy Commission (CEC) three grants for a combined total of $18.1 million to implement upgrades that are planned to increase profitability by reducing natural gas use, lowering greenhouse gas emissions, decreasing operating costs, and reducing the carbon intensity (“CI”) of fuel grade ethanol produced at the Keyes plant.

Of this amount, the California Energy Commission (“CEC”) awarded the company’s biogas affiliate a $4.1 million grant under the CEC’s Low Carbon Fuel Production Program to construct a biogas upgrading facility.

The biogas upgrading facility will convert dairy biogas to renewable natural gas (“RNG”) as a final processing step after biogas is delivered via pipeline from anaerobic digesters that Aemetis Biogas is building at dairies throughout Stanislaus and Merced Counties. Aemetis is currently developing more than a dozen anaerobic digesters at local dairies, with plans for future expansion to several dozen dairies.

The 2019 EB-5 Modernization Rule increased the minimum EB-5 investment amounts for Targeted Employment Areas (TEA) EB-5 projects from $500,000 to $900,000 and the non-TEA minimum investment amount increased from $1 million to $1.8 million. Targeted employment areas are either designated as rural or areas that have an unemployment population that is at least 150% the national average.

Securing TEA designation for an EB-5 project is critical to attract EB-5 investors with its reduced investment amount of $900,000. The Aemetis projects are TEA projects.

The Renewable Fuels project qualifies for the lower amount $900,000 of EB-5 investment.

The Aemetis plant, a Phase 2 EB-5 visa program project, will be using waste wood produced each year from orchards in the California central valley, converted into fuel grade ethanol mandated in California to be blended into gasoline.

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In order to provide a higher level of certainty and assurance for EB-5 investors, the California Energy Investment Center regional center retained Vermillion Consulting to confirm that the Aemetis phase 2 project locations meet the “new” TEA requirements.

Kim Atteberry, Former USCIS Chief Economist reported that the Aemetis Advanced Products Keyes ("AAPK") project phase 2 falls within two, unique, high unemployment TEAs. Both of these TEA's exceed regulatory requirements of the Final 2019 Rule.

Vermillion Consulting determined that the Aemetis project sites located at 5300 Claus Rd, Modesto, California and 4209 Jessup Rd, Keyes, California fall within two, unique, high unemployment TEAs. These TEAs will satisfy regulatory requirements for the $900,000 investment amount.

TEA Confirmation Letters

New Aemetis EB-5 Project located in Qualifying TEA with Exemplar Approval

Exemplar Approval

EB-5 Project Description

The Aemetis Phase 2 EB-5 project is designed to use waste wood that accumulates every year from 1.5 million acres of almond and other orchards in the California central valley, converting it into fuel grade ethanol to be blended with gasoline.

Project Highlights

  • TEA Confirmation Letter
  • USCIS Exemplar Approval
  • Phase 1 I-526 100% Approvals
  • National Interest Expedite Filed
  • Government Support

Aemetis Advanced Products Keyes, Inc. (“the Phase 2 Project Company”) is constructing a multi-feedstock production facility to produce advanced ethanol and related byproducts.

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About the Regional Center

California Energy Investment Center, LLC ("CEIC") was approved as a federal regional center on August 12, 2009 and has provided EB-5 opportunities that have created over $4 billion in capital investment with the creation of over 20,000 jobs in high unemployment areas.

The CEIC has offices in Cupertino (California's Silicon Valley), Fresno (California's Central Valley), and near Sacramento (California's State Capitol).

For Regional Center information contact:
California Energy Investment Center, LLC
Mr. Michael Penbera, Executive Director
+1 (916) 990-6599 Call Now

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