Imperial Valley, CA, USA – May 10, 2016 – Today California Ethanol & Power, LLC (CE&P) announced the updated carbon intensity (CI) for its anticipated sugarcane and sweet sorghum ethanol. On May 9, 2016, California’s Air Resources Board (CARB) under the state’s Low Carbon Fuel Standard (LCFS) released recertified fuel pathways from their updated GREET model which evaluates the energy and emission effects of transportation fuels.
CE&P’s fuel pathways were certified on March 31, 2016, with their sugarcane ethanol at a CI of 22.44 revised from 54.47 and their sweet sorghum ethanol at a CI of 30.63 revised from 39.0. CE&P has a blended average CI of ~25 revised from ~49. CARB updated existing CI values certified under the previous LCFS regulation and calculated using the CA-GREET 1.8b model to new values calculated using the CA-GREET 2.0 model under the LCFS re-adopted in September 2015, as listed at: http://www.arb.ca.gov/fuels/lcfs/fuelpathways/pathwaytable.htm.
The low carbon fuel CE&P intends to produce will contribute to the state’s LCFS goals of reducing the carbon intensity of fuels sold in the state 10% by 2020. “The newly revised CI for our sugarcane and sweet sorghum ethanol is significant as it establishes CE&P’s ethanol as one of the fuels with the lowest carbon intensity,” stated President/CEO Dave Rubenstein. “Once we are in production and provide operational data, we are eligible to claim credits under the LCFS due to our low CI relative to petroleum-based gasoline.”
For more information on the California Air Resources Board Low Carbon Fuels Standard, visit: http://www.arb.ca.gov/fuels/lcfs/lcfs.htm. The Low Carbon Fuel Standard is a regulation to reduce the carbon intensity of fuels sold in California ten percent by 2020. The LCFS is one of the measures adopted by the California Air Resources Board, pursuant to Health and Safety Code Sections 38500-38599 (AB 32) to reduce greenhouse gases in California. It is designed to help clean the air, protect the environment, and drive the development of clean, low-carbon fuels to improve California's energy security and energy independence. Questions related to CI certification, please contact Anil Prabhu, Manager, Fuels Evaluation Section at Anil.Prabhu@arb.ca.gov (916-445-9227). Questions related to reporting, please contact Manisha Singh, Manager, Fuels Section at Manisha.Singh@arb.ca.gov (916-327-1501).
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are identified by the use of forward-looking terminology such as may, will, could, should, expect, anticipate, intend, plan, estimate, or continue or the negative thereof, or other variations thereof. Each forward-looking statement, including, without limitation, any financial projections, speaks only as of the date on which it is made, and CE+P does not undertake an obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made, or to reflect the occurrence of anticipated or unanticipated events or circumstances. The forward-looking statements are necessarily based on assumptions and estimates and are inherently subject to various risks and uncertainties. Actual results may vary materially as a result of changes or developments in social, economic, business, market, legal and regulatory circumstances or conditions, both domestically and globally, as well as due to actions by customers, clients, suppliers, business partners, or government bodies. Performance is subject to numerous factors, including demand for renewable fuels and the availability of, private and public sector funding. Results may also vary as a result of difficulties or delays experienced in the execution of contracts or implementation of strategic initiatives.
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