Monday, May 9, 2016

Aemetis Acquires Edeniq

Cupertino-based biofuels developer Aemetis said last week that it has agreed to acquire cellulosic biofuels developer Edeniq, in a deal worth between one and two million shares of its common stock, plus cash worth up to $20M over the next five years. Edeniq had raised around $100M from Kleiner Perkins Caulfield & Byers, Draper Fisher Jurvetson, Angeleno Group, The Westly Group, I2BF Global Ventures, along with US Department of Energy (DOE) grant funding. Aemetis said Edeniq had approximately $20M in revenues and $6M in positive EBITDA in 2015, and has around 30 employees. Edeniq was based in Visalia, California.