Aemetis, Inc. (DE) - AMTX STOCK NEWS

Aemetis, Inc. (NASDAQ: AMTX) has appointed Timothy Alan Simon, Esq. to its Board of Directors, effective October 14, 2021. Simon, a former Commissioner of the California Public Utilities Commission, brings extensive experience in energy markets and regulation. His role is expected to enhance Aemetis' capabilities as the company focuses on renewable natural gas and sustainable fuels. The board expressed support for Simon’s appointment, highlighting his regulatory expertise. Aemetis is dedicated to producing low carbon intensity transportation fuels and is expanding its renewable energy initiatives.

Aemetis, Inc. (NASDAQ: AMTX) has entered a significant offtake agreement with Delta Air Lines for 250 million gallons of sustainable aviation fuel (SAF) over 10 years, valued at over $1 billion. The fuel, benefiting from lower lifecycle carbon emissions, is set to be produced at Aemetis' renewable jet/diesel plant in California, with deliveries starting in 2024. This partnership aligns with Delta's commitment to carbon neutrality and aims to replace 10% of its conventional jet fuel with SAF by 2030. Aemetis's Carbon Zero project utilizes waste wood for production, enhancing its sustainability efforts.

Aemetis, Inc. (NASDAQ: AMTX), a leader in renewable natural gas and fuels, will present its low carbon intensity projects at the Advanced Biofuels Leadership Conference on October 28, 2021, led by Chairman and CEO Eric McAfee. The company is developing a 90 million gallon per year Carbon Zero sustainable aviation fuel plant in Riverbank, California, aiming for below zero carbon intensity. With existing biogas projects, Aemetis expects to reduce greenhouse gas emissions equivalent to 1.1 million cars annually. The projects are supported by $57 million in grants from various U.S. agencies.

Aemetis, Inc. (NASDAQ: AMTX) announced the completion of key milestones for its renewable natural gas (RNG) project in collaboration with PG&E. The company signed a Standard Renewable Gas Interconnection Agreement and made a final payment of $1.2 million for the interconnection equipment, scheduled for completion in Q4 2021. This project aims to deliver RNG into PG&E's natural gas pipeline, displacing petroleum-based fuels in California. The initiative is projected to capture over 1.4 million MMBtu of methane annually, significantly reducing greenhouse gas emissions.

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.