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Aemetis Reports Revenues of $66 Million for the Second Quarter 2024

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Aemetis (NASDAQ: AMTX) reported Q2 2024 revenues of $66.6 million, a 48% increase from Q2 2023. The California Ethanol business generated $40.1 million, India Biodiesel $28.8 million, and Dairy Renewable Natural Gas (RNG) $1.6 million. The company's Dairy RNG business now has the capacity to produce over 300,000 MMBtu of RNG annually. Aemetis commissioned a new Solar Microgrid with battery storage and received a $10.5 million IRA tax credit allocation for a Mechanical Vapor Recompression system. Despite revenue growth, the company reported a net loss of $29.2 million for Q2 2024, compared to $25.3 million in Q2 2023. Cash at the end of Q2 2024 was $234,000, down from $2.7 million at the end of Q4 2023.

Aemetis (NASDAQ: AMTX) ha riportato ricavi per il secondo trimestre del 2024 di 66,6 milioni di dollari, con un aumento del 48% rispetto al secondo trimestre del 2023. L'attività di etanolo in California ha generato 40,1 milioni di dollari, il biodiesel in India 28,8 milioni di dollari e il gas naturale rinnovabile per il settore lattiero-caseario (RNG) 1,6 milioni di dollari. L'azienda ha ora la capacità di produrre oltre 300.000 MMBtu di RNG all'anno. Aemetis ha commissionato un nuovo microgrido solare con accumulo di batteria e ha ricevuto un'allocazione di credito d'imposta IRA di 10,5 milioni di dollari per un sistema di compressione del vapore meccanico. Nonostante la crescita dei ricavi, l'azienda ha registrato una perdita netta di 29,2 milioni di dollari per il secondo trimestre del 2024, rispetto ai 25,3 milioni di dollari del secondo trimestre del 2023. Alla fine del secondo trimestre del 2024, la liquidità era di 234.000 dollari, in calo rispetto ai 2,7 milioni di dollari alla fine del quarto trimestre del 2023.

Aemetis (NASDAQ: AMTX) reportó ingresos de 66,6 millones de dólares en el segundo trimestre de 2024, un aumento del 48% en comparación con el segundo trimestre de 2023. El negocio de etanol en California generó 40,1 millones de dólares, el biodiésel en India 28,8 millones de dólares, y el gas natural renovable lácteo (RNG) 1,6 millones de dólares. La empresa ahora tiene la capacidad de producir más de 300,000 MMBtu de RNG anualmente. Aemetis ha puesto en marcha una nueva microred solar con almacenamiento de batería y recibió una asignación de crédito fiscal IRA de 10,5 millones de dólares para un sistema de compresión de vapor mecánico. A pesar del crecimiento de los ingresos, la compañía reportó una pérdida neta de 29,2 millones de dólares en el segundo trimestre de 2024, en comparación con 25,3 millones de dólares en el segundo trimestre de 2023. Al final del segundo trimestre de 2024, la liquidez era de 234,000 dólares, una disminución de 2,7 millones de dólares al final del cuarto trimestre de 2023.

Aemetis (NASDAQ: AMTX)는 2024년 2분기 매출이 6,660만 달러로 2023년 2분기 대비 48% 증가했다고 보고했습니다. 캘리포니아 에탄올 사업은 4,010만 달러, 인도 바이오디젤은 2,880만 달러, 그리고 유제품 재생 가능 천연 가스(RNG)는 160만 달러를 기록했습니다. 회사의 유제품 RNG 사업은 이제 연간 300,000 MMBtu 이상의 RNG를 생산할 수 있는 능력을 갖추고 있습니다. Aemetis는 배터리 저장 기능이 있는 새로운 태양광 마이크로 그리드를 설치하고, 기계식 증기 재압축 시스템을 위한 1,050만 달러의 IRA 세금 크레딧 할당을 받았습니다. 매출 성장에도 불구하고, 회사는 2024년 2분기에 2,920만 달러의 순손실을 보고했으며, 이는 2023년 2분기 2,530만 달러와 비교됩니다. 2024년 2분기 말 현금은 234,000달러로, 2023년 4분기 말 270만 달러에서 감소했습니다.

Aemetis (NASDAQ: AMTX) a annoncé des revenus de 66,6 millions de dollars au deuxième trimestre 2024, marquant une augmentation de 48 % par rapport au deuxième trimestre 2023. L'activité éthanol en Californie a généré 40,1 millions de dollars, le biodiesel en Inde 28,8 millions de dollars, et le gaz naturel renouvelable laitier (RNG) 1,6 million de dollars. L'entreprise a désormais la capacité de produire plus de 300 000 MMBtu de RNG par an. Aemetis a mis en service une nouvelle microgrille solaire avec stockage de batterie et a reçu une allocation de crédit d'impôt IRA de 10,5 millions de dollars pour un système de recompression de vapeur mécanique. Malgré la croissance des revenus, l'entreprise a enregistré une perte nette de 29,2 millions de dollars au deuxième trimestre 2024, contre 25,3 millions de dollars au deuxième trimestre 2023. À la fin du deuxième trimestre 2024, la trésorerie s'élevait à 234 000 dollars, en baisse par rapport à 2,7 millions de dollars à la fin du quatrième trimestre 2023.

Aemetis (NASDAQ: AMTX) meldete im 2. Quartal 2024 Einnahmen von 66,6 Millionen US-Dollar, was einem Anstieg von 48 % im Vergleich zum 2. Quartal 2023 entspricht. Das Ethanol-Geschäft in Kalifornien erwirtschaftete 40,1 Millionen US-Dollar, Biodiesel in Indien 28,8 Millionen US-Dollar und erneuerbares Erdgas (RNG) aus der Milchproduktion 1,6 Millionen US-Dollar. Das Unternehmen hat nun die Kapazität, jährlich über 300.000 MMBtu RNG zu produzieren. Aemetis hat ein neues solares Mikrogrid mit Batteriespeicher in Betrieb genommen und erhielt eine Zuteilung von 10,5 Millionen US-Dollar an IRA-Steuergutschriften für ein mechanisches Dampfrecompressionssystem. Trotz des Umsatzwachstums berichtete das Unternehmen von einem Nettoverlust von 29,2 Millionen US-Dollar im 2. Quartal 2024, verglichen mit 25,3 Millionen US-Dollar im 2. Quartal 2023. Am Ende des 2. Quartals 2024 betrug die Liquidität 234.000 US-Dollar, ein Rückgang von 2,7 Millionen US-Dollar Ende des 4. Quartals 2023.

Positive
  • Revenues increased 48% year-over-year to $66.6 million in Q2 2024
  • Dairy RNG business reached capacity to produce over 300,000 MMBtu of RNG annually
  • Received $10.5 million IRA tax credit allocation for Mechanical Vapor Recompression system
  • Commissioned new Solar Microgrid with battery storage to reduce utility costs
Negative
  • Net loss increased to $29.2 million in Q2 2024 from $25.3 million in Q2 2023
  • Gross loss of $1.8 million in Q2 2024 compared to $2.0 million profit in Q2 2023
  • Cash decreased to $234,000 at end of Q2 2024 from $2.7 million at end of Q4 2023
  • Operating loss increased to $13.6 million in Q2 2024 from $7.8 million in Q2 2023

Aemetis' Q2 2024 results showcase a significant revenue growth of 48% year-over-year, reaching $66.6 million. This growth is primarily driven by strong performances across all three business segments. However, the company reported a net loss of $29.2 million, wider than the $25.3 million loss in Q2 2023.

Key financial highlights:

  • California Ethanol business: $40.1 million in revenues
  • India Biodiesel business: $28.8 million in revenues
  • Dairy Renewable Natural Gas (RNG) business: $1.6 million in revenues

The company's gross loss of $1.8 million in Q2 2024 compared to a $2.0 million profit in Q2 2023 is concerning. This, coupled with increased selling, general and administrative expenses and higher interest costs, contributed to the wider net loss.

Aemetis' cash position has significantly deteriorated, dropping from $2.7 million at the end of Q4 2023 to just $234,000 at the end of Q2 2024. This sharp decline in liquidity could pose challenges for the company's ongoing operations and planned expansions.

On a positive note, the company's investment in capital projects, particularly in reducing carbon intensity and constructing dairy digesters, amounted to $5.4 million in Q2 2024. These investments, along with the new Solar Microgrid and the anticipated Mechanical Vapor Recompression system, could potentially improve operational efficiency and reduce costs in the long term.

The allocation of $10.5 million in IRA tax credits for the MVR system is a positive development, potentially leading to significant reductions in natural gas usage and associated costs. However, investors should closely monitor the company's ability to execute these projects effectively given its current financial position.

Aemetis' Q2 2024 results reflect the company's strategic focus on low and negative carbon intensity products. The Dairy Renewable Natural Gas (RNG) business is showing promising growth, with a current capacity to produce over 300,000 MMBtu of RNG annually. This segment generated $1.6 million in revenues from eight operating dairy digesters, with a ninth digester coming online at the quarter's end.

The anticipated LCFS provisional pathway approvals and the federal Inflation Reduction Act Section 45Z production tax credits for RNG production starting January 2025 could significantly boost the RNG segment's profitability. This aligns well with the growing demand for sustainable energy solutions and could provide Aemetis with a competitive edge in the renewable fuels market.

The company's investment in a Solar Microgrid with battery storage for its California Ethanol business is a smart move towards reducing operational costs and optimizing energy usage. Similarly, the planned Mechanical Vapor Recompression (MVR) system, supported by $10.5 million in IRA tax credits, could reduce natural gas usage by approximately 80%. These initiatives demonstrate Aemetis' commitment to reducing its carbon footprint while potentially improving operational efficiency.

However, the renewable energy sector is capital-intensive and Aemetis' current financial position, particularly its low cash reserves, might pose challenges in executing these projects. The company will need to carefully manage its resources and possibly seek additional funding to fully capitalize on these opportunities.

Investors should keep a close eye on the company's ability to scale its RNG operations and successfully implement its efficiency projects, as these could be key drivers for future growth and profitability in the evolving renewable energy landscape.


Revenues Increased 48% Over the Second Quarter of 2023

CUPERTINO, CA, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products that replace fossil fuels, today announced its financial results for the three and six months ended June 30, 2024. 

Revenues of $66.6 million for the second quarter of 2024 reflect strong execution by all three of the company’s operating segments, with the California Ethanol business generating $40.1 million in revenues, the India Biodiesel business generating $28.8 million in revenues, and the Dairy Renewable Natural Gas (RNG) business generating $1.6 million in revenues.  

“The ongoing construction and operation of dairy digesters with the current capacity to produce more than 300,000 MMBtu of renewable natural gas annually by the Dairy RNG business marks an important cash flow milestone for Aemetis, representing a reliable source of increased future revenues,” stated Todd Waltz, Chief Financial Officer of Aemetis. “We anticipate substantial additional revenues from the operational dairies and those dairies under construction when we receive LCFS provisional pathway approvals and when we receive the federal Inflation Reduction Act Section 45Z production tax credits for RNG production beginning in January 2025,” added Waltz.

The California Ethanol business commissioned a new Solar Microgrid with battery storage that will strengthen future cash flows by reducing electric utility costs and optimizing storage and load shedding during peak rate hours.

The Ethanol business also received an allocation of $10.5 million of IRA tax credits from the U.S. Department of Energy and the Internal Revenue Service under the first phase of IRA Section 48C awards to support the installation of a Mechanical Vapor Recompression system that is expected to reduce the Keyes facility natural gas usage by approximately 80%, significantly reducing the carbon intensity of the fuel ethanol produced and generating an associated increase in revenues. Detailed engineering for MVR is completed, and the company has begun procurement of the MVR equipment.

“Complementing the revenue growth in our US businesses, our India Biofuel business announced the appointment of a Managing Director and Chief Executive Officer demonstrating our commitment to the expansion of the India business and our pursuit of an IPO of this subsidiary,” said Eric McAfee, Chairman and CEO of Aemetis.  
  
We invite investors to review the Aemetis Corporate Presentation on the Aemetis home page prior to the earnings call.

Today, Aemetis will host an earnings review call at 11:00 a.m. Pacific time (PT). 


Live Participant Dial In (Toll Free): +1-888-506-0062 entry code 807848
Live Participant Dial In (International): +1-973-528-0011 entry code 807848
Webcast URL:  https://www.webcaster4.com/Webcast/Page/2211/50872

For details on the call, please visit http://www.aemetis.com/investors/conference-calls/

Financial Results for the Three Months Ended June 30, 2024

Revenues during the second quarter of 2024 were $66.6 million compared to $45.1 million for the second quarter of 2023. Our Keyes plant operated during the entire quarter compared to its extended maintenance cycle during a portion of the second quarter of 2023.  Our Dairy Natural Gas segment produced 89,400 MMBtu from eight operating dairy digesters and reported $1.6 million of revenue, and our ninth digester began producing biogas at the end of the second quarter.  Our India Biodiesel business recognized $24.8 million of revenue primarily from sales to the India Oil Marketing Companies.

Gross loss for the second quarter of 2024 was $1.8 million, compared to a $2.0 million profit during the second quarter of 2023.

Selling, general and administrative expenses were $11.8 million during the second quarter of 2024 from $9.7 million during the same period in 2023, driven primarily by the recognition of a loss on asset disposals of $3.6 million.

Operating loss was $13.6 million for the second quarter of 2024, compared to operating loss of $7.8 million for the same period in 2023.

Interest expense, excluding accretion of Series A preferred units in the Aemetis Biogas LLC subsidiary, increased to $11.7 million during the second quarter of 2024 compared to $9.6 million during the second quarter of 2023.  Additionally, Aemetis Biogas recognized $3.5 million of accretion of Series A preferred units during the second quarter of 2024 compared to $6.9 million during the second quarter of 2023.

Net loss was $29.2 million for the second quarter of 2024, compared to $25.3 million for the second quarter of 2023.

Cash at the end of the second quarter of 2024 was $234 thousand compared to $2.7 million at the close of the fourth quarter of 2023.  We recorded investments in capital projects related to the reduction of the carbon intensity of Aemetis ethanol and construction of dairy digesters of $5.4 million for the second quarter of 2024.

Financial Results for the Six Months Ended June 30, 2024

Revenues were $139.2 million for the first half of 2024, compared to $47.3 million for the first half of 2023, primarily occurring from our 2023 extended maintenance cycle which allowed for the acceleration of the implementation of several important efficiency upgrades at the Keyes plant.  

Gross loss for the first half of 2023 was $2.4 million, compared to a gross profit of $0.7 million during the first half of 2023.

Selling, general and administrative expenses were $20.7 million during the first half of 2024, compared to $20.6 million during the first half of 2023, including $4.0 million of fixed costs of goods sold charged to selling, general and administrative during the Keyes plant maintenance period during the first half of 2023 and the recognition of a loss on asset disposals of $3.6 million during the first half of 2024.

Operating loss was $23.1 million for the first half of 2024, compared to $19.9 million for the first half of 2023.

Interest expense was $22.2 million during the first half of 2024, excluding accretion and other expenses of Series A preferred units in our Aemetis Biogas LLC subsidiary, compared to interest expense of $18.7 million during the first half of 2023.  Additionally, our Aemetis Biogas LLC subsidiary recognized $6.8 million of accretion and other expenses in connection with preference payments on its preferred stock during the first half of 2024 compared to $12.4 million during the first half of 2023.

Net loss for the first half of 2024 was $53.4 million, compared to a net loss of $51.7 million during the same period of 2023.   

Investments in capital projects of $9.0 million were made during the first half of 2024, including investments in capital projects related to Aemetis Biogas of $7.1 million.

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

Non-GAAP Financial Information

We have provided non-GAAP measures as a supplement to financial results based on GAAP. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is included in the accompanying supplemental data. Adjusted EBITDA is defined as net income/(loss) plus (to the extent deducted in calculating such net income) interest expense, income tax expense, intangible and other amortization expense, accretion expense, depreciation expense, and share-based compensation expense.

Adjusted EBITDA is not calculated in accordance with GAAP and should not be considered as an alternative to net income/(loss), operating income or any other performance measures derived in accordance with GAAP or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA is presented solely as a supplemental disclosure because management believes that it is a useful performance measure that is widely used within the industry in which we operate. In addition, management uses Adjusted EBITDA for reviewing financial results and for budgeting and planning purposes.  EBITDA measures are not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure for comparison.

Safe Harbor Statement 

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to our five-year growth plan, future growth in revenue, expansion into new markets, our ability to commercialize our development projects, the ability to obtain sufficiently low Carbon Intensity scores to achieve below zero carbon intensity transportation fuels, the development of the Aemetis Biogas Dairy project, the development of the Aemetis Sustainable Aviation Fuel plant in Riverbank, the upgrades to the Aemetis Keyes ethanol plant, the development of the Aemetis Carbon Capture projects, and the ability to access the funding required to execute on project development, construction, and operations.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “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 Report on Form 10-K for the year ended December 31, 2023, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 and in our subsequent 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

(Tables follow)


           
AEMETIS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(unaudited, in thousands, except per share data)
           
    For the three months ended June 30, For the six months ended June 30,
     2024   2023   2024   2023 
Revenues $66,561  $45,112  $139,195  $47,263 
Cost of goods sold  68,367   43,156   141,613   46,602 
Gross profit (loss)  (1,806)  1,956   (2,418)  661 
           
Selling, general and administrative expenses  11,800   9,746   20,650   20,574 
Operating loss  (13,606)  (7,790)  (23,068)  (19,913)
           
Other expense (income):        
 Interest expense        
  Interest rate expense  9,904   8,299   18,996   15,377 
  Debt related fees and amortization expense 1,820   1,330   3,241   3,299 
  Accretion and other expenses of Series A preferred units 3,477   6,885   6,788   12,449 
 Other income/expense  (18)  (91)  49   (167)
Loss before income taxes  (28,789)  (24,213)  (52,142)  (50,871)
 Income tax expense  385   1,066   1,263   818 
Net loss $(29,174) $(25,279) $(53,405) $(51,689)
           
Net loss per common share        
 Basic $(0.66) $(0.68) $(1.24) $(1.40)
 Diluted $(0.66) $(0.68) $(1.24) $(1.40)
           
Weighted average shares outstanding        
 Basic  44,417   37,179   43,153   36,804 
 Diluted  44,417   37,179   43,153   36,804 
           
        



AEMETIS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(in thousands)
         
     June 30, 2024 December 31, 2023 
     (Unaudited)   
Assets       
 Current assets:      
  Cash and cash equivalents  $234  $2,667  
  Accounts receivable  8,764   8,633  
  Inventories   10,244   18,291  
  Prepaid and other current assets   4,613   6,809  
 Total current assets   23,855   36,400  
         
  Property, plant and equipment, net   194,042   195,108  
  Other assets   14,191   11,898  
 Total assets  $ 232,088  $ 243,406  
         
Liabilities and stockholders' deficit      
 Current liabilities:      
  Accounts payable  $28,769  $32,132  
  Current portion of long term debt   55,766   13,585  
  Short term borrowings  18,822   23,443  
  Other current liabilities   17,496   15,229  
 Total current liabilities   120,853   84,389  
         
 Total long term liabilities   360,187   375,994  
         
 Stockholders' deficit:      
  Common stock  46   41  
  Additional paid-in capital   285,519   264,058  
  Accumulated deficit  (528,810)  (475,405) 
  Accumulated other comprehensive loss   (5,707)  (5,671) 
 Total stockholders' deficit   (248,952)  (216,977) 
Total liabilities and stockholders' deficit  $ 232,088  $ 243,406  
       



RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME/(LOSS)
(unaudited, in thousands)
          
          
   For the three months ended June 30, For the six months ended June 30,
 EBITDA Calculation 2024   2023  2024  2023 
          
 Net loss $(29,174) $(25,279) (53,405) (51,689)
 Adjustments        
  Interest and amortization expense 11,724   9,629  22,237  18,676 
  Depreciation expense 2,049   1,671  3,847  3,461 
  Accretion of Series A preferred units 3,477   6,885  6,788  12,449 
  Loss on asset disposal 3,644   -  3,644  - 
  Share-based compensation 1,977   1,755  4,946  4,417 
  Intangibles amortization expense 24   11  24  23 
  Income tax expense 385   1,066  1,263  818 
 Total adjustments 23,280   21,017  42,749  39,844 
          
 Adjusted EBITDA$(5,894) $(4,262) (10,656) (11,845)
          



PRODUCTION AND PRICE PERFORMANCE
(unaudited)
          
 Three Months ended June 30, Six Months ended June 30,
  2024  2023   2024  2023 
Ethanol         
Gallons sold (in millions) 14.8  2.8   28.9  2.9 
Average sales price/gallon$1.99 $3.12  $1.89 $3.08 
Percent of nameplate capacity 108% 20%  105% 11%
WDG         
Tons sold (in thousands) 105  24.3   199  24.3 
Average sales price/ton$89 $105  $93 $105 
Delivered Cost of Corn         
Bushels ground (in millions) 5.2  1.4   10.1  1.4 
Average delivered cost / bushel$6.36 $6.84  $6.35 $7.17 
Dairy Renewable Natural Gas         
MMBtu produced (in thousands) 89.4  54.1   149.7  75.4 
MMBtu stored as inventory (in thousands) 80.7  86.7   80.7  77.7 
MMBtu sold (in thousands) 88.0  54.1   148.8  75.4 
Biodiesel         
Metric tons sold (in thousands) 20.4  25.7   47.5  26.7 
Average Sales Price/Metric ton$1,162 $1,276  $1,150 $1,210 
Percent of Nameplate Capacity 54.4% 68.6%  63.4% 35.5%
Refined Glycerin         
Metric tons sold (in thousands) 1.5  1.1   3.9  1.5 
Average Sales Price/Metric ton$635 $662  $584 $676 
          



FAQ

What was Aemetis' revenue for Q2 2024?

Aemetis reported revenues of $66.6 million for the second quarter of 2024, representing a 48% increase from the same period in 2023.

How much revenue did Aemetis' Dairy RNG business generate in Q2 2024?

The Dairy Renewable Natural Gas (RNG) business generated $1.6 million in revenues during the second quarter of 2024.

What was Aemetis' (AMTX) net loss for Q2 2024?

Aemetis (AMTX) reported a net loss of $29.2 million for the second quarter of 2024.

How much IRA tax credit did Aemetis receive for its Mechanical Vapor Recompression system?

Aemetis received an allocation of $10.5 million in IRA tax credits for the installation of a Mechanical Vapor Recompression system.

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