March 25 (Renewables Now) – Aemetis Inc (NASDAQ:AMTX) has had a busy month of March to date with the signing of two new sustainable aviation gas (SAF) provide offers that will likely be executed with deliveries from its under-development biorefinery in Riverbank, California.
On Friday, the US renewable gas and biochemicals firm unveiled an offtake settlement with Oneworld Alliance airline community member Finnair Oyj (HEL:FIA1S) for 17.5 million gallons of blended SAF, to be equipped over a interval of seven years. Together with incentives, the worth of this contract quantities to USD 70 million (EUR 63.4m).
Ten days earlier, the corporate additionally introduced signing an analogous seven-year cope with Qantas Group and Qantas Airways for 35 million gallons of blended SAF. The worth of that contract is USD 250 million.
The gas for each clients will likely be produced on the Riverbank plant, with the beginning of deliveries to them deliberate for 2025.
As acknowledged by CEO Eric McAfee earlier this month, Aemetis has already signed USD 2.5 billion of off-take agreements with main airways and USD 3.2 billion with a journey cease chain.
Initially of the month, the corporate closed two new, decrease rate of interest credit score services with combination availability of as much as USD 100 million. This contains as much as USD 50 million for tasks that produce decrease carbon depth renewable merchandise and as much as USD 50 million for working capital.
(USD 1.0 = EUR 0.905)