Aemetis announces sale of 88,883 D3 Renewable Identification Number credits

Aemetis announced the sale of 88,883 D3 Renewable Identification Number credits, RINs, the company’s first commercial D3 RIN transaction under the federal Renewable Fuel Standard, RFS, generated by the Aemetis Biogas Central Dairy Digester Project in California. The D3 RINs were generated by the sale of dairy renewable natural gas, RNG, delivered to customers in June 2023 and begins ongoing monthly revenues from the sale of D3 RINs. The federal D3 RINs that were sold completed an independent review to enable the sale to be entirely comprised of Qualified RINs, QRINs, that have been verified to conform with regulations and identify sourcing. Separately, the California Low Carbon Fuel Standard, LCFS, credits from Q2 2023 production are expected to be generated at the end of Q3 after a verification process has been completed. “The federal Renewable Fuel Standard has been in place since 2007, and the EPA D3 RIN mandate requires a number of D3 RINs to be delivered by obligated parties that currently is expected to exceed those available in the marketplace for 2023 through 2025,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis Biogas project was developed to produce D3 cellulosic RINs to meet this expanding mandated demand, as well as LCFS credits mandated by the State of California.”