California Governor Newsom Signs AB30 Approving 15% Ethanol Blend that Increases Ethanol Market by more than 600 million Gallons Per Year

CUPERTINO, Calif., Oct. 03, 2025 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and biofuels company, announced today that California Governor Gavin Newsom signed Assembly Bill 30 (AB30), 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 of Aemetis and a Board member of the Renewable Fuels Association (RFA). “E15 increases the amount of lower cost, high octane renewable fuel while reducing emissions from conventional gasoline.”

“Thanks to Gov. Newsom’s leadership and decisive action, California is on the road to lower gas prices and a cleaner future for families across the state,” stated RFA President and CEO Geoff Cooper. “Many other states have already seen the benefits of E15—healthier air, better engine performance, and cost savings at the pump. Now, California drivers are able to experience those same advantages for themselves, and we thank Gov. Newsom for voicing his support for E15 throughout the legislative process. We likewise thank the bipartisan California Problem Solvers Caucus and the bill sponsors, Assemblymembers David Alvarez and Heath Flora, for working to open the California fuel marketplace to cleaner and more affordable options.”

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. 

Aemetis continues to invest in clean fuel growth in California. The next phase of investment, adding a $30 million mechanical vapor recompression (MVR) system to its ethanol plant, is projected to reduce natural gas usage at the Keyes plant by 80%. The MVR system will reduce ethanol production emissions and production costs while increasing LCFS revenues and 45Z production tax credit income. After implementation of the MVR system in 2026, the Aemetis Keyes ethanol plant is expected to improve cash flow from operations by $32 million per year.

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that lowers fuel costs and reduces emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality biodiesel and refined glycerin. Aemetis is developing a carbon sequestration well project and a renewable diesel fuel and SAF biorefinery in Riverbank, California. For additional information about Aemetis, please visit www.aemetis.com.

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, biodiesel and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

Company Investor Relations        
Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com

External Investor Relations
Contact:
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PCG Advisory Group
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