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US biorefining technology firm Edeniq brings fraud and other cross-claims against Aemetis

Edeniq, a well-known US cellulosic and biorefining technology company, announced that it has filed a cross-complaint against California-based biorefining company Aemetis for fraud and negligent misrepresentation among other claims.

In a statement, Edeniq said that it Edeniq lawfully terminated its merger agreement with Aemetis in August 2016 and is vigorously defending itself against a meritless lawsuit Aemetis filed shortly thereafter.

Edeniq said it was confident that it will prevail in its defense against the Aemetis lawsuit as well as in its claims against Aemetis.

Edeniq said it already had succeeded in having two of Aemetis’ four original claims dismissed.

The cross-complaint and answer were filed March 20, 2017, in Santa Clara Superior Court. Edeniq’s cross-complaint alleges that Aemetis was unable to finance the merger and fraudulently induced Edeniq to enter into the agreement by misrepresenting the circumstances under which it could do so.

In a statement, said it also seeks to enjoin Aemetis from misappropriating Edeniq’s trademark, which Aemetis continues to display on its company’s homepage, and which Edeniq alleges gives the false impression that the parties are presently affiliated.

Damages are also at issue— Edeniq’s cross-complaint seeks monetary relief to remedy harm it alleges was caused by Aemetis’ interference with Edeniq’s pre-existing contracts, as well as its interference with Edeniq’s potential business with future customers.

 After raising $7 million (€6.4m) in equity capital from its existing investors in December 2016, Edeniq has expanded its workforce by more than 30%.

Edeniq continues to grow its customer base, and three of its customers have received cellulosic ethanol registrations from the Environmental Protection Agency (EPA) after deploying Edeniq’s Pathway Technology.





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