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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) will be added to the Russell 3000® and Russell Microcap® Indexes after the annual reconstitution on June 28, 2021. This inclusion, determined by market capitalization rankings as of May 7, is expected to enhance investor awareness of Aemetis' renewable fuels, including its Dairy Renewable Natural Gas project. The Russell indexes, which benchmark around $10.6 trillion in assets, provide significant visibility among institutional investors and contribute to Aemetis' long-term investor base focused on climate and ESG goals.
Aemetis, Inc. (NASDAQ: AMTX) has signed a $200 million biofuels offtake agreement with Murex, LLC to deliver low carbon biofuels from 2021 to 2023. The deal includes selling fuel at a fixed discount tied to market prices and integrates advanced technologies to lower carbon intensity at Aemetis' Keyes, California biorefinery. Supported by $16.7 million in grants from California Energy Commission, Aemetis aims to eliminate petroleum natural gas reliance and produce the world's lowest carbon intensity ethanol using renewable energy sources.
Aemetis (NASDAQ: AMTX) has announced that its Chairman and CEO, Eric McAfee, will participate in the Stifel Virtual Cross Sector Insight Conference on June 10, 2021. He will serve on the “Future of Energy” panel at 9:20 am ET and deliver the Aemetis corporate presentation at 2:40 pm ET. During the conference, McAfee will discuss Aemetis' projects, including the Central Dairy Biogas renewable natural gas initiative and the Carbon Zero 1 facility, which aims to produce renewable jet fuel and diesel.
The company projects a capacity of 45 million gallons per year by 2023, scaling up to 90 million gallons by 2025.
Aemetis, Inc. (NASDAQ: AMTX) has received a second patent for technology that allows the extraction of sugars from waste wood using ionic liquids. This patented process is projected to cut feedstock costs by up to 90% and reduce carbon intensity in renewable fuels. Developed with support from the U.S. Department of Energy and the California Energy Commission, the technology facilitates the conversion of waste wood into cellulosic ethanol and renewable hydrogen. The first Carbon Zero production plant will be built in California to enhance efficiency in renewable fuel production.
Aemetis (NASDAQ: AMTX) has received a grant from the U.S. Forest Service to commercialize a patented process that extracts cellulosic sugars from waste orchard and forest wood using ionic liquids technology. This process aims to produce high-value cellulosic ethanol at Aemetis' existing plant. The remaining lignin will be utilized for producing cellulosic hydrogen, supporting renewable jet and diesel fuel production. The Carbon Zero 1 biorefinery is set to begin operations in 2023, with a capacity of 45 million gallons per year, doubling to 90 million gallons by 2025.
Aemetis, Inc. (NASDAQ: AMTX) announced significant progress in its Aemetis Biogas Central Dairy Digester Project as construction has commenced on a $12 million biogas cleanup and compression unit in Keyes, California. This unit will produce Renewable Natural Gas (RNG) compliant with utility standards, set to be operational by Q4 2021. The facility will connect over 30 dairies to a natural gas pipeline and generate 440,000 MMBtu/year of biogas. This initiative underscores Aemetis' commitment to reducing carbon intensity in fuel production.
Aemetis, a renewable fuels company, reported Q1 2021 revenues of $42.8 million, an 8% increase from $39.5 million in Q1 2020, driven by rising ethanol demand and prices. Ethanol prices rose from $1.40 to over $2.90 per gallon amidst economic recovery and stricter EPA regulations. Despite these gains, the company faced a net loss of $18.1 million compared to $12.1 million in Q1 2020, attributed to increased operating and administrative expenses, alongside weaker crush margins. Cash reserves improved to $15.8 million due to stock sales.
Aemetis, Inc. (NASDAQ: AMTX) will host a conference call on May 12, 2021, at 11 AM PST to discuss its first quarter 2021 earnings report. Participants can join via toll-free dial-in numbers or by accessing the live webcast. Questions can be submitted during the Q&A session. A recording of the call will be available until May 19, 2021. Aemetis focuses on renewable natural gas and fuels, operating facilities in California and India, and has a range of innovative technologies aimed at reducing greenhouse gas emissions.
Aemetis (NASDAQ: AMTX) has received nineteen Authority To Construct permits from the San Joaquin Valley Air Pollution Control District for its 'Carbon Zero' renewable fuels project in Riverbank, California. CEO Eric McAfee emphasized this as a significant milestone, allowing the company to begin equipment fabrication and ramp up construction, which is expected to create over $200 million in investments and jobs in the region. The biorefinery is projected to be operational by 2023, with plans to double production capacity by 2025, supported by $17 million in grant funding.
Aemetis, Inc. (NASDAQ: AMTX) has chosen Axens Vegan® Renewable Hydroprocessing technology for its Carbon Zero 1 production plant in Riverbank, California. This facility aims to produce a sustainable mix of aviation fuel and diesel from non-edible oils and renewable hydrogen. With a planned capacity of 45 million gallons per year, the project has already received $17 million in grants from California agencies. Aemetis is in the process of securing offtake agreements following a $2 billion bid for the produced fuels.
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