Renewable fuels producer Ametis has gained approval from the US Citizenship and Immigration Services (USCIS) for $200 million of investment into its California sustainable aviation fuel (SAF) production plant.
The extended facility, which was recently granted construction permits, is designed to produce 78 million gallons of SAF a year, with Ametis having already secured more than $3 billion worth of contracts to supply airlines with the product. The existing plant, capable of producing 65 million gallons of ethanol a year, will be extended in various ways; including a central facility to convert biogas to natural gas, a biofuels production facility, and a carbon sequestration well.
Eight investors have already committed $500,000 each, while a further investment of $200 million will be raised from 245 qualified investors at $800,000 apiece under the EB-5 programme.
“This $200 million of funding provides attractive terms at a low interest rate to fund our projects,” said chairman and CEO of Aemetis Eric McAfee. “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,” he added.
Ametis granted approval for $200 million investment into SAF plant
