Aemetis Announces Support for Updated Low Carbon Fuel Standard and Encourages CARB Adoption on November 8th
Aemetis (NASDAQ: AMTX) announces strong support for the updated Low Carbon Fuel Standard (LCFS) proposal ahead of California Air Resources Board's (CARB) meeting on November 8, 2024. The company urges CARB to adopt the updated LCFS, which extends goals for 20 years. The program aims to reduce greenhouse gas emissions by 85%, create over 4 million jobs, and generate cost savings in health-related expenses for Californians. The initiative focuses on decarbonizing transportation while promoting investment and job creation in California's renewable energy sector.
Aemetis (NASDAQ: AMTX) annuncia un forte sostegno per la proposta aggiornata sul Low Carbon Fuel Standard (LCFS) in vista della riunione del California Air Resources Board (CARB) prevista per l'8 novembre 2024. L'azienda esorta il CARB ad adottare il LCFS aggiornato, che estende gli obiettivi per 20 anni. Il programma mira a ridurre le emissioni di gas serra dell'85%, a creare oltre 4 milioni di posti di lavoro e a generare risparmi sui costi sanitari per i californiani. L'iniziativa si concentra sulla decarbonizzazione dei trasporti, promuovendo al contempo investimenti e creazione di posti di lavoro nel settore delle energie rinnovabili in California.
Aemetis (NASDAQ: AMTX) anuncia un fuerte apoyo a la propuesta actualizada del Estándar de Combustibles de Bajo Carbono (LCFS) antes de la reunión de la Junta de Recursos del Aire de California (CARB) programada para el 8 de noviembre de 2024. La empresa insta a CARB a adoptar el LCFS actualizado, que extiende los objetivos por 20 años. El programa tiene como objetivo reducir las emisiones de gases de efecto invernadero en un 85%, crear más de 4 millones de empleos y generar ahorros en gastos de salud para los californianos. La iniciativa se centra en la descarbonización del transporte mientras promueve la inversión y la creación de empleos en el sector de energía renovable de California.
Aemetis (NASDAQ: AMTX)는 2024년 11월 8일로 예정된 캘리포니아 공기 자원 위원회(CARB) 회의에 앞서 업데이트된 저탄소 연료 기준(LCFS) 제안에 강력한 지지를 표명했습니다. 이 회사는 CARB가 20년 동안의 목표를 연장하는 업데이트된 LCFS를 채택할 것을 촉구하고 있습니다. 이 프로그램은 온실가스 배출량을 85% 줄이고 400만 개 이상의 일자리를 창출하며 캘리포니아 주민들의 건강 관련 비용 절감 효과를 생성하는 것을 목표로 합니다. 이 이니셔티브는 교통수단의 탈탄소화에 중점을 두고 있으며 캘리포니아의 재생 가능 에너지 부문에 대한 투자와 일자리 창출을 촉진하고자 합니다.
Aemetis (NASDAQ: AMTX) annonce un fort soutien à la proposition mise à jour de la Norme de Carburant à Faible Émission de Carbone (LCFS) avant la réunion du California Air Resources Board (CARB) prévue pour le 8 novembre 2024. L'entreprise exhorte le CARB à adopter la LCFS mise à jour, qui prolonge les objectifs pour 20 ans. Le programme vise à réduire les émissions de gaz à effet de serre de 85 %, à créer plus de 4 millions d'emplois et à générer des économies sur les dépenses de santé pour les Californiens. L'initiative se concentre sur la décarbonisation des transports tout en promouvant l'investissement et la création d'emplois dans le secteur des énergies renouvelables en Californie.
Aemetis (NASDAQ: AMTX) kündigt starke Unterstützung für den aktualisierten Low Carbon Fuel Standard (LCFS) Vorschlag im Vorfeld des Treffens des California Air Resources Board (CARB) am 8. November 2024 an. Das Unternehmen fordert CARB auf, den aktualisierten LCFS zu verabschieden, der die Ziele um 20 Jahre verlängert. Das Programm zielt darauf ab, die Treibhausgasemissionen um 85 % zu reduzieren, über 4 Millionen Arbeitsplätze zu schaffen und Kosteneinsparungen bei gesundheitsbezogenen Ausgaben für Kalifornier zu generieren. Die Initiative konzentriert sich auf die Dekarbonisierung des Transportsektors, während gleichzeitig Investitionen und die Schaffung von Arbeitsplätzen im Bereich erneuerbare Energien in Kalifornien gefördert werden.
- LCFS program extension could provide long-term market stability for Aemetis' renewable products
- Potential expansion of market opportunities in California's renewable fuels sector
- Company well-positioned to benefit from increased focus on low-carbon initiatives
- None.
Insights
The proposed LCFS update marks a significant policy development, but lacks immediate financial impact or concrete business metrics. While Aemetis expresses support for the proposal, there are no specific commitments, financial projections, or material changes to current operations detailed. The 2045 goals mentioned are long-term projections without binding intermediate targets or clear implementation pathways.
The policy framework could potentially benefit Aemetis's renewable fuels business in California, but the impact remains speculative without defined carbon credit pricing mechanisms or specific industry obligations. Investors should note that regulatory support, while positive for sector outlook, doesn't translate to immediate revenue opportunities or measurable business outcomes.
Greenhouse Gas Reduction Goals Improve Health and the Environment in California While Supporting New Investment in Renewable Energy
CUPERTINO, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products, today announced strong support for the updated Low Carbon Fuel Standard (“LCFS”) proposal and strongly urges its adoption by the California Air Resources Board (“CARB”) at its meeting on November 8, 2024.
“CARB has shown that the LCFS is a highly effective program to reduce greenhouse gas emissions and improve air quality in California,” stated Eric McAfee, Chairman and CEO of Aemetis. “We look forward to the adoption of 20 years of new LCFS goals which support the decarbonization of transportation in California while also generating new jobs and billions of dollars of investment. Working together, CARB, unions, agriculture, industry, and impacted communities can strengthen the LCFS and create positive outcomes for California’s citizens and the state’s environment. We applaud CARB’s staff for their work and urge the Board to quickly adopt the updated LCFS,” added McAfee.
The updated LCFS supports CARB’s goals for 2045, which are expected to improve air quality for disadvantaged communities located near air pollution emissions sources, reduce greenhouse gas emissions by
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing a sustainable aviation fuel (SAF) and renewable diesel fuel biorefinery in California to utilize renewable hydrogen, hydroelectric power, and renewable oils to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com.
Safe Harbor Statement
This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2024 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biodiesel, biogas, SAF and renewable diesel, and carbon sequestration facilities; and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.
External Investor Relations
Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com
Company Investor Relations/
Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com
FAQ
What is Aemetis (AMTX) stance on the updated LCFS proposal?
What are the main goals of the LCFS program supported by AMTX?
When is CARB voting on the LCFS proposal supported by AMTX?
How long is the new LCFS timeline proposed for AMTX and other companies?
