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Aemetis, Inc. (NASDAQ: AMTX), headquartered in Cupertino, California, is a leading renewable natural gas and renewable fuels company dedicated to the development and commercialization of innovative technologies that aim to replace traditional petroleum-based products. Established in 2006, Aemetis has grown to become a significant player in the renewable energy sector, focusing on the conversion of first-generation ethanol and biodiesel plants into advanced biorefineries.
The company owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto. This plant produces low carbon renewable fuel ethanol, Wet Distillers Grains, Distillers Corn Oil, and Condensed Distillers Solubles, all sold to local dairies and feedlots as animal feed. Additionally, Aemetis 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, the US, and Europe.
Aemetis is also spearheading the development of the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California. These facilities will utilize renewable hydrogen, hydroelectric power, and renewable oils to produce low carbon intensity renewable jet and diesel fuel. The company's biogas operations include a network of dairy biomethane digesters in California’s Central Valley, producing renewable natural gas (RNG) from dairy waste methane.
In recent developments, Aemetis has secured $200 million in EB-5 program investment for its Riverbank sustainable aviation fuel plant, dairy RNG project, carbon sequestration project, and energy efficiency upgrades to the Keyes ethanol plant. The company has also received Authority to Construct permits for its Riverbank SAF/RD plant, expected to produce up to 78 million gallons per year of SAF. Furthermore, Aemetis has been awarded $10.5 million of Inflation Reduction Act (IRA) tax credits to support energy efficiency projects at the Keyes facility.
Financially, Aemetis continues to show robust growth. In the latest earnings report, the company generated $186.7 million in total revenue for the year 2023, with significant increases from its India Biodiesel segment. Aemetis is on track to achieve its ambitious Five-Year Plan, projecting $1.95 billion in revenues and $645 million of adjusted EBITDA by 2028.
Aemetis, Inc. (NASDAQ: AMTX) has announced the completion of an additional seven miles of biogas pipeline for its dairy renewable natural gas project, bringing the total installed to over 11 miles. The company plans to construct a total of 36 miles by the end of 2022. This expansion includes five new dairy digesters that are expected to begin production mid-year. The project aims to reduce greenhouse gas emissions by an estimated 5.2 million metric tonnes of CO2 annually and has garnered $57 million in grant funding.
Aemetis, Inc. (NASDAQ: AMTX) announced that CEO Eric McAfee will present at the Credit Suisse Energy Summit on February 28, 2022, discussing $5 billion in new contracts for renewable fuels including Sustainable Aviation Fuel (SAF) and Renewable Diesel. The company has secured $2 billion contracts with major airlines and a $3.1 billion supply contract for renewable diesel. Aemetis is also constructing a Dairy RNG project in California, expected to significantly reduce greenhouse gas emissions. The projects are supported by $57 million in funding from various U.S. government agencies.
Aemetis signed a Master Developer Agreement with the City of Riverbank for the lease/purchase of a 125-acre industrial site featuring 710,000 sq. ft. of buildings, a four-mile railroad, and a hydroelectric substation. The facility will house the Carbon Zero 1 biorefinery, producing 90 million gallons annually of sustainable aviation fuel and renewable diesel. This initiative is expected to create over 2,000 jobs, support regional economic growth, and utilize wood waste from orchards for renewable hydrogen production. Aemetis has secured $5 million in grants and substantial supply agreements with major airlines.
Aemetis, Inc. (NASDAQ: AMTX) has signed a major 10-year agreement to supply 450 million gallons of renewable diesel to a leading travel stop company, projected to generate over $3 billion in revenue. The renewable diesel will enable approximately 3.6 billion miles of transportation, aligning with environmental goals by reducing emissions from heavy-duty vehicles. This contract forms part of Aemetis's broader strategy, having secured more than $5 billion in binding contracts for its Carbon Zero facility in Riverbank, California.
Aemetis (NASDAQ: AMTX), a renewable fuels company, has successfully reincorporated from Nevada to Delaware, a move approved by shareholders at the August 26, 2021 meeting. The legal domicile change requires no additional shares and maintains the current board and management structure. As of December 3, 2021, there are 33,289,689 shares outstanding. CEO Eric McAfee stated this milestone is strategic for future financing and growth in negative carbon intensity products, including renewable fuels and biochemicals.
Aemetis, Inc. (NASDAQ: AMTX) has signed a seven-year offtake agreement with American Airlines for 280 million gallons of blended Sustainable Aviation Fuel (SAF), valued at over $1.1 billion. The fuel, which comprises 40% SAF and 60% Petroleum Jet A, is set to aid American Airlines in achieving net zero carbon emissions by 2050. Production will occur at Aemetis' renewable jet/diesel plant in Riverbank, California, expected to start in 2024. This agreement aligns with broader industry goals of transitioning to sustainable fuels to mitigate environmental impact.
Aemetis, Inc. (NASDAQ: AMTX) has signed memorandums of understanding with eight airlines in the oneworld Alliance for 350 million gallons of blended sustainable aviation fuel (SAF) to be delivered to San Francisco International Airport. The agreement spans a seven-year term starting in 2024. The blended fuel will consist of 40% SAF and 60% petroleum jet fuel, aligning with international standards. Aemetis is developing the Carbon Zero plant in California, which will produce SAF using waste materials. This initiative is part of the oneworld commitment to achieve 10% SAF use by 2030 and net-zero emissions by 2050.
Aemetis, Inc. (NASDAQ: AMTX) has announced the signing of a non-binding term sheet for $100 million in new debt financing aimed at supporting carbon reduction initiatives and working capital. The financing includes $50 million for projects like sustainable aviation fuel and renewable diesel production, along with upgrades to its Keyes ethanol plant. The company has successfully repaid over $55 million in high-interest debt during 2021. Additionally, Aemetis is pursuing a $125 million USDA guaranteed loan and expects to finalize the new financing under customary conditions.
Aemetis (NASDAQ:AMTX) reported a 50.4% increase in North America revenues to $49.8 million in Q3 2021, driven by rising demand and pricing in the liquid transportation fuel market. Capital expenditures for ultra-low carbon projects reached $18.8 million. However, the company faced a gross loss of $4.8 million, largely due to a $5.3 million reserve for California emissions compliance. The net loss expanded to $17.6 million from $12.2 million year-over-year. Overall revenues for the first nine months of 2021 increased to $147.6 million, yet gross loss was reported at $4.7 million.
Aemetis, Inc. (NASDAQ: AMTX) has announced a conference call scheduled for November 11, 2021, at 11 am PST to discuss its third quarter 2021 earnings report. Interested parties can join via toll-free or international dial-in numbers, or through a webcast. The company focuses on transforming renewable energy, specifically through its Carbon Zero production process aimed at decarbonizing transportation fuels. Aemetis operates biogas digester networks, an ethanol production facility in California, and a biodiesel facility in India. More details available at their website.
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