Aemetis notes signing of Assembly Bill 30 by California Governor Newsom

Aemetis (AMTX) announces that California Governor Gavin Newsom signed Assembly Bill 30, which immediately allows 15% ethanol blending in gasoline and expands the potential California market for ethanol by 50% by increasing from an E10 to E15 blend. According to a UC Berkeley/Naval Academy study, a 15% ethanol blend could decrease gasoline prices at the pump by $2.7 billion per year and save consumers about 20 cents per gallon. “E15 approval in California is a smart move to help families save money at the pump and advance the state’s renewable energy and environmental goals,” stated Eric McAfee, Chairman and CEO. “E15 increases the amount of lower cost, high octane renewable fuel while reducing emissions from conventional gasoline.” Aemetis owns and operates a 65 million gallon per year ethanol facility in California’s Central Valley near Modesto. With E15 now approved, more ethanol can be blended into gasoline, supporting in-state production and helping reduce the cost and carbon intensity of transportation fuels in California.