Aemetis Inc., a renewable fuels company, has signed a 10-year, 450-million-gallon renewable diesel supply agreement with a travel stop company, which is expected to generate more than $3 billion in revenue.
The renewable diesel to be supplied under the agreement will fuel an estimated 3.6 billion miles of heavy truck and cargo transportation. The travel stop company is continuing its strategy to diversify its fueling operations.
“This supply agreement represents the largest supply contract signed by Aemetis for our Riverbank Carbon Zero Plant,” states Eric McAfee, founder, chairman and CEO of Aemetis. “Combined with $2.1 billion of signed sustainable aviation fuel contracts, we have now signed more than $5 billion of binding off-take contracts related to the Riverbank production facility and also have MOUs signed with seven airlines for additional contracts.”
The 90-million-gallon per year Aemetis Carbon Zero sustainable aviation fuel and renewable diesel plant, under development in two phases in Riverbank, Calif., is designed to produce below-zero-carbon-intensity renewable fuels. The design uses cellulosic hydrogen from waste forest and orchard wood, along with on-site CO2 carbon sequestration and zero-carbon-intensity hydroelectric electricity. The demand for renewable diesel has increased as a result of policies including the California Low Carbon Fuel Standards and the federal Renewable Fuel Standard that require reductions in carbon emissions from transportation.
The Aemetis Carbon Zero plant is being built on a 125-acre former U.S. Army Ammunition plant in Riverbank, Calif.