Aemetis has signed a biofuels offtake agreement with international renewable fuels supplier Murex for an estimated $200 million (€165 million) of low carbon biofuels to be delivered during 2021 to 2023.
Founded 30 years ago and based in Plano, Texas, Murex is a renewable fuels terminal, marketing, logistics, and supply company with operations and assets throughout North America.
The terms of the agreement provide that the fuel and the related Low Carbon Fuel Standard and Renewable Fuel Standard Credits will be sold at a fixed discount to the market price at the time of delivery.
“By deploying exciting new technologies to significantly reduce the carbon intensity of traditional renewable fuels, Aemetis has demonstrated its expertise in the management of complex projects to meet the high standards required by California regulators and customers,” said Robert Wright, president of Murex.
“Murex is uniquely positioned to maximise the value of these low carbon fuels through our extensive railcar and terminal network, including access to markets beyond California as low carbon fuel standard regulations are adopted in other states and countries.”
“As we implement significant energy efficiency upgrades to our Keyes, California biorefinery, Aemetis is excited to partner with Murex, a world-class organization with deep expertise and global reach in the renewable fuels sector,” said Andy Foster, president of Aemetis Advanced Fuels, a wholly-owned subsidiary of Aemetis.
“By converting our Keyes plant to utilise solar and other low or below zero carbon intensity energy sources instead of high carbon intensity petroleum natural gas, we will produce lower CI renewable fuel and significantly reduce the carbon footprint of our biorefinery.
“The solar microgrid with battery storage will help power the Mitsubishi ZEBREX™ Membrane Dehydration System, a mechanical vapor recompression system, and allow additional energy efficiency upgrades.”
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