Aemetis closes on $35.5 million of EB-5 funding Aemetis Inc. has closed on its $35.5 million Phase I EB-5 Program funded by 71 foreign investors. The EB-5 Program is authorized by the U.S. Immigration and Naturalization Act and designed to provide employment-based visa preferences for immigrant investors who deploy capital into U.S.-based projects that provide jobs for American workers.
Aemetis closed its Phase I EB-5 Program with the issuance of 71 subordinated convertible promissory notes, raising $35.5 million of low-interest investment funds used to create both direct and indirect jobs at its high-grade alcohol and fuel ethanol plant in Keyes, California. Aemetis Chairman and CEO Eric McAfee said the project exemplifies
sound immigration policy that generates U.S. investment and creates jobs. He said the company has already launched a second phase of EB-5 funding with plans to issue $50 million in additional notes.
Highwater Ethanol invests in USP-grade alcohol production Highwater Ethanol LLC, a 59 MMgy ethanol plant in Lamberton, Minnesota, has filed an 8-K with the U.S. Securities and Exchange Commission announcing an agreement with Nelson Baker Biotech Inc. for the installation of a system to produce 20 MMgy of hydrous USP-grade ethanol, which is used in the sanitizer market.
The filing indicates Highwater and Nelson Baker executed the construction agreement on Aug. 26. The agreement includes design, engineering and construction management. Construction is expected to begin before November and reach
completion in the second fiscal quarter of 2021. Highwater Ethanol is among many U.S. ethanol plants venturing into high-end alcohol production, according to Ethanol Producer Magazine’s recent survey of U.S. producers (see page 16).
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