Aemetis, Inc. (NASDAQ: AMTX) shares began Friday on a positive note. The Cupertino, Calif.-based concern, 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 CEO Eric McAfee. “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 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.”
AMTX began the week’s last session better by 44 cents, or 19.2%, to $2.73.
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