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GlobeNewswire·

CPCFA Adopts Initial Resolution Supporting up to $1.1 Billion of Tax-Exempt Financing for Aemetis Projects

  • Aemetis announced that California's Capital Programs & Climate Financing Authority adopted an Initial Resolution to potentially issue up to $1.1 billion in tax-exempt bonds for Aemetis projects.
  • The resolution satisfies federal tax requirements, allowing bond proceeds to fund qualified costs incurred after the resolution date as well as certain prior development costs.
  • Eric McAfee, Aemetis Chairman & CEO, stated that the lower interest rates from tax-exempt bonds could enhance the company's financial position & strengthen its balance sheet.
  • Projects covered by the resolution include constructing over 40 additional dairy digesters, biogas pipeline connections to the Keyes facility, & underground CO2 sequestration & SAF/RD production in Riverbank.
  • Aemetis Biogas currently operates 12 anaerobic digesters serving 15 dairies with a 36-mile pipeline, while more than 50 dairies are contracted for future supply.
  • The company supplies approximately 80 dairies with animal feed byproducts from its 65 million gallon per year ethanol plant in Keyes.
  • Final bond issuance is not guaranteed as it requires statewide volume limit allocations & completion of final documentation.