BusinessWire India

Pune (Maharashtra) [India], October 8: Aemetis Inc. (NASDAQ: AMTX) is advancing decarbonization at its 65 million gallon-per-year ethanol plant in Keyes, California, with a $30 million energy efficiency upgrade with integration of a Mechanical Vapor Recompression (MVR) system. Praj Industries (NSE: PRAJIND, BSE: 522205) is supplying the advanced low-carbon solution and equipment that form the key components of this system. Project execution and implementation are being carried out by NPL Construction Co., a subsidiary of Centuri Holdings, Inc. (NYSE: CTRI).

The Aemetis Advanced Fuels Keyes facility has been operating since 2011, utilizing Praj's ethanol technology, and has consistently delivered reliable performance while contributing to California's low-carbon fuel standard and U.S. energy security.

The project has received approximately $19.7 million in grants and tax credits from California Energy Commission, and Pacific Gas & Electric, and IRA 45Z tax credits.

Project completion is scheduled for Q2 2026, and once operational, the solution is projected to:

- Reduce natural gas usage at the Keyes plant by approximately 80%

- Generate an estimated $32 million of incremental annual cash flow from energy savings

- Deliver a double-digit reduction in the carbon intensity of the plant's fuel ethanol, increasing LCFS credits

- Expand eligibility for transferable Section 45Z production tax credits

This investment marks a significant step forward in Aemetis' decarbonization strategy, complementing its Dairy Renewable Natural Gas (RNG) program and recently approved CARB LCFS pathways.

Dr. Pramod Chaudhari, Chairman of Praj Industries, said:

"Praj has been a trusted technology partner to Aemetis for more than a decade at this facility. The deployment of advanced low-carbon solution marks the next step in lowering the carbon intensity of ethanol while driving greater efficiency and profitability. Together with Aemetis and Centuri, we are enabling meaningful progress in the U.S. energy transition."

Eric McAfee, Chairman and CEO of Aemetis, said:

"This MVR project represents a high-return, high-impact upgrade to our California ethanol facility. By working with Centuri's EPC team and Praj's proven technology, we expect to materially improve operating margins, strengthen cash flow, and capture the benefits of Section 45Z tax credits while advancing our commitment to delivering lower-carbon renewable fuels."

Dylan Hradek, President of U.S. Gas at Centuri, said:

"We are proud to expand our collaboration with Aemetis and Praj on this strategic energy efficiency project. Centuri's construction expertise and commitment to sustainability align perfectly with California's clean energy goals, and we look forward to delivering the infrastructure that enables a more sustainable future."

The MVR system strengthens Aemetis' ethanol operations by combining energy efficiency, carbon reduction, and margin expansion, while capturing value from favorable regulatory frameworks, including rising LCFS credit prices, Section 45Z incentives, and the adoption of E15 gasoline blends in California.

With a presence in the Americas for more than 30 years, Praj continues to be the decarbonization partner of choice for renewable energy companies seeking proven solutions.

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