Aemetis, Inc. (DE) - AMTX STOCK NEWS

Aemetis, Inc. (NASDAQ: AMTX) has been issued building permits for the next phase of its dairy biogas digesters in California. This initiative is part of the Aemetis Biogas Central Dairy Digester Project, which will be linked to the Aemetis ethanol plant. By 2022, 15 additional digesters are expected to produce around 440,000 MMBtu of Renewable Natural Gas (RNG) annually, significantly displacing petroleum-based fuels. The project aims to capture over 1.4 million MMBtu of dairy methane, reducing greenhouse gas emissions equivalent to approximately 5.2 million metric tonnes of CO₂ yearly.

Aemetis (NASDAQ: AMTX) announced the initiation of engineering and permitting for two CO2 injection wells at its ethanol plant sites in California. A study by Baker Hughes estimates that more than 2 million metric tonnes (MT) of CO2 can be captured and sequestered annually, with 1 million MT at the Keyes site and 1.4 million MT at Riverbank. This initiative aims to support renewable energy through Aemetis' Carbon Zero program and could generate approximately $200 per MT from California's Low Carbon Fuel Standard and $50 from IRS 45Q tax credits.

Aemetis, Inc. (AMTX) has selected Machado & Sons Construction Inc. for the construction of a 32-mile biogas pipeline in California, following a competitive bidding process. This pipeline will connect multiple dairy digesters to Aemetis' biogas upgrading facility to produce renewable natural gas (RNG), aimed at reducing greenhouse gas emissions. The project is part of the Aemetis Biogas Central Dairy Digester Project, projected to capture over 1.4 million MMBtu of dairy methane and reduce CO₂ emissions equivalent to taking 1.1 million cars off the road annually.

Aemetis, Inc. (NASDAQ:AMTX) reported financial results for Q2 2021, marking revenues of $54.9 million, up 15% year-over-year. North American revenues rose to $54.7 million, driven by a 16% increase in ethanol sales due to heightened demand post-COVID-19. However, gross profit plummeted to $3.6 million from $14.1 million in Q2 2020, resulting in a net loss of $10.6 million. For H1 2021, revenues surged to $97.7 million, yet the net loss expanded to $28.7 million compared to $9.9 million in the prior year. Capital expenditures totaled $12.9 million, focusing on ultra-low carbon projects.

Aemetis, Inc. (NASDAQ: AMTX) has received final approval to construct 21 miles of Phase 2 biogas pipeline in Stanislaus County, California. This milestone will enable the connection of dairy digesters for renewable natural gas (RNG) production, aimed at replacing diesel in heavy-duty vehicles. The project supports Aemetis' goal to produce over 1 million MMBtu of RNG, potentially displacing 6.88 million diesel gallon equivalents annually and reducing CO2 emissions by over 2.6 million metric tons. The $12 million project is partially funded by a $4.2 million grant from the California Energy Commission.

Aemetis, Inc. (NASDAQ: AMTX) is set to host a conference call on August 12, 2021, at 11 AM PST to discuss its second quarter 2021 earnings report. Participants can join via toll-free dial-in numbers or through a webcast link provided in the announcement. After August 19, the webcast will be accessible on Aemetis' official website. The company is focused on renewable energy solutions, particularly through its Carbon Zero initiative aimed at reducing carbon intensity in transportation fuels. Aemetis operates facilities in California and India to produce renewable fuels and biochemicals.

Aemetis (NASDAQ: AMTX) has appointed Mehagan Hopkins as the Manager of Carbon Capture and Sequestration Regulatory and Compliance. With over a decade of experience at Chevron, including extensive work in environmental compliance, Hopkins is expected to enhance the company's efforts in biofuels and carbon capture projects. Her role will involve leading EPA and regulatory approvals for Aemetis' CCS initiatives and renewable fuel biorefineries. This strategic hire aligns with Aemetis' commitment to sustainable energy solutions and its Five Year Plan aimed at reducing carbon emissions.

Aemetis, Inc. (NASDAQ: AMTX) is developing two carbon sequestration wells in Central California to capture and sequester up to two million metric tonnes of CO₂ annually. Negotiations have commenced for the supply of 1.6 million metric tonnes per year of CO₂, which could generate approximately $500 million in annual revenue from carbon capture credits. The initiative is expected to offset emissions equivalent to the annual output of about 350,000 cars. The California LCFS and IRS 45Q programs support these efforts with significant revenue potential.

Aemetis (NASDAQ: AMTX) has engaged Worley for engineering services on its Carbon Zero renewable jet and diesel project in Riverbank, California. Planned to initiate operations in 2023, the facility aims to produce low carbon intensity fuels from renewable oils and hydrogen sourced from wood waste. The production capacity is set to reach 45 million gallons annually, later expanding to 90 million gallons by early 2025. This project, part of Aemetis' commitment to sustainable energy, positions it to serve the aviation and trucking sectors with eco-friendly fuel solutions.