Aemetis secures $200m under E-5 programme for SAF, renewable projects

Aemetis announced that it has secured $200m from US Citizenship and Immigration Services (USCIS) under EB-5 program investment for the Riverbank sustainable aviation fuel (SAF) production plant and other renewable energy projects.

“This $200m of funding provides attractive terms at a low interest rate to fund our projects, including the dairy renewable natural gas project and the sustainable aviation fuel plant to meet rapidly increasing global demand for SAF from airlines,” said Eric McAfee, Chairman and CEO, Aemetis.

“This EB-5 funding, the 20-year USDA guaranteed loans, and other financings support the continued growth of the company as set forth in the Aemetis Five Year Plan.”

The company recently announced that it received the authority to construct air permits for the Riverbank SAF plant. Aemetis’ Riverbank SAF plant is designed to produce 78m gallons per year of SAF for the aviation market.

Aemetis said that it has already secured more than $3bn of contracts to supply airlines with SAF.

The US Citizenship and Immigration Services (USCIS) EB-5 program, also known as the Immigrant Investor Program, is designed to attract foreign capital and stimulate the US economy by offering green cards to foreign investors who meet specific criteria.

The USCIS was launched to promote economic growth through the EB-5 program by encouraging investment in businesses and creating jobs.