USA: Aemetis enters EV market with stake in ZEV heavy-duty truck producer

The gas player acquires a 20% ownership of Nevo Motors, a stealth mode company with its product launch planned for Q1 2021.

Aemetis, a renewable natural gas, renewable fuel and biochemicals company, has acquired through its Aemetis Properties Riverbank subsidiary an approximately 20% ownership of Nevo Motors, a zero-emission heavy duty truck producer, under a strategic electric vehicle production facilities agreement.

Nevo, which stands for “new electric vehicle optimization”, is a stealth mode company with its product launch planned for Q1 2021 – a line of zero emission (ZEV) electric heavy-duty trucks with range extender generators for long haul and local transportation markets.

The collaboration will see Nevo utilize current and future Aemetis manufacturing facilities and fueling stations, as well as renewable natural gas and renewable electricity produced by Aemetis.

“The strategic agreement utilizes the production buildings, onsite railroad, renewable electricity substation and other facilities at the140-acre, 710,000 square foot Aemetis Riverbank, California manufacturing facility, as well as other Aemetis infrastructure, renewable energy products, and expertise in renewable fuel credits and markets,” details Aemetis’ press release.

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products.