Shearman & Sterling advised certain subsidiaries of Aemetis, Inc., as borrowers, on an up to $100 million financing agented by Third Eye Capital, consisting of an up to $50 million revolving credit facility to finance projects that reduce, capture, use or sequester carbon with the objective of reducing carbon dioxide emissions and an up to $50 million revolving credit facility for working capital purposes.
Aemetis operates as a renewable natural gas and fuels, and byproducts company in North America and India. It operates through three segments: California Ethanol, Dairy Renewable Natural Gas, and India Biodiesel. The company focuses on the acquisition, development, and commercialization of negative carbon intensity products and technologies that replace traditional petroleum-based products. It sells biodiesel primarily to government oil marketing companies, transport companies, resellers, distributors, and private refiners through its own sales force and independent sales agents, as well as to brokers who resell the product to end-users.
The Shearman & Sterling team below included associate Stephanie Li (New York-Investment Funds).