AE Biofuels has a new name: Aemetis, Inc.

AE Biofuels, Inc. announced that its shareholders have approved a change of name for the company. Henceforth, the company will be called Aemetis, Inc. The name comes from the Scottish “AE” which means “The One” and “Metis” in Greek which means “Prudent Wisdom.” Thus, Aemetis means “The One Prudent Wisdom,” which refers to the prudence and wisdom reflected in replacing petroleum with alternative and renewable sources of fuels and chemicals. Chairman and CEO of Aemetis, Eric MacAfee, explained, “Our scientists and operations teams at Aemetis are focused on the development and commercialization of innovative industrial biotechnologies that produce advanced chemical and renewable fuel substitutes for traditional petroleum-based chemicals and fuels.” He added, “By expanding existing first-generation biofuels plants to produce high-margin chemicals and advanced fuels, our technology platform helps biofuels companies increase their operating margins, decrease margin volatility, and diversify feedstocks and products.” The Company operates a biodiesel manufacturing facility with a nameplate capacity of 55 million gallons per year in Kakinada, India, and has a cellulose and starch ethanol demonstration facility in Butte, Montana, U.S.A. The company operates in three segments: India, North America and other. In July 2011, it acquired Zymetis, Inc. (November 15, 2011)