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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) presented its five-year growth plan at the BofA Securities RNG Conference, targeting $1.07 billion in revenues and $325 million in adjusted EBITDA by 2025. This plan forecasts a 35% CAGR in revenues and a remarkable 109% CAGR in EBITDA from 2021 to 2025. Key growth drivers include California's dairy Renewable Natural Gas and Carbon Zero renewable jet/diesel plants. Aemetis aims to leverage carbon capture technology to reduce carbon intensity across its products significantly, with $57 million in grant funding already secured for related projects.
Aemetis, Inc. (NASDAQ: AMTX) announced that CEO Eric McAfee will present and engage in meetings at the Credit Suisse Renewables & Utilities Conference on May 13-14, 2021. The presentation will cover key initiatives in carbon sequestration and renewable fuels, including negative carbon intensity renewable natural gas and jet fuel projects aimed at maximizing California’s Low Carbon Fuel Standard and federal Renewable Fuel Standard benefits. Aemetis is recognized for its sustainable practices, supported by $57 million in funding from various agencies for its innovative projects.
Aemetis, Inc. (NASDAQ: AMTX) has established Aemetis Carbon Capture, Inc. to enhance carbon sequestration efforts in California's Central Valley. This initiative aims to reduce the carbon intensity of dairy biogas, currently certified at -426 CI, from 52 dairies producing 1.4 million MMBtu of Renewable Natural Gas. The project is expected to sequester 50,000 metric tonnes of CO2 annually, with potential revenues estimated at $200 per metric tonne under California's LCFS and an IRS 45Q tax credit of $50 per tonne. Aemetis plans to invest over $300 million into these projects in the next five years.
Aemetis, Inc. (NASDAQ: AMTX) received certification from the California Air Resources Board for a new Low Carbon Fuel Standard (LCFS) Tier 2 fuel pathway. This pathway enables the use of renewable dairy biogas, reducing the carbon intensity (CI) of their ethanol from 67.3 to 65.6. The dairy biogas has a CI score of negative 426. Aemetis plans to expand its dairy digester project, adding over 30 digesters and extending its pipeline. The approval is a significant step towards decarbonizing its ethanol production facility, expected to commence construction of additional digesters and pipelines in Q2 2021.
Aemetis, Inc. (NASDAQ: AMTX) achieved a key environmental permitting milestone as the Stanislaus County Board approved the Initial Study/Mitigated Negative Declaration for a 32-mile pipeline extension. This construction is part of the Aemetis Central Dairy Digester Project, aimed at utilizing biogas from local dairies. The project is expected to generate revenue through Low Carbon Fuel Standard and Renewable Fuel Standard credits. Construction starts in Q2 2021, targeting completion of 17 digesters and 36 miles of pipeline by Q2 2022, addressing approximately 25% of methane emissions from dairy waste lagoons in California.
Aemetis, Inc. (NASDAQ: AMTX) announced a supply agreement with the Andhra Pradesh State Road Transport Corp. (APSRTC) to deliver approximately 800,000 gallons of biodiesel monthly. This is expected to generate around $36 million annually, contributing 20% to the company’s biodiesel plant capacity. Aemetis, with a 50 million gallon capacity facility in India, aims to enhance its reputation in the biodiesel market and support the state's public transportation for its 84 million residents. The partnership is a significant step in the company's Five Year Plan, projected to yield a total of $180 million.
Aemetis, Inc. (NASDAQ: AMTX) announced a presentation at the Virtual Roth Capital Conference from March 15-17, 2021, led by Chairman and CEO Eric McAfee. The presentation will cover the Aemetis Five Year Plan, emphasizing projects like negative carbon intensity renewable natural gas and renewable jet/diesel fuel production. Key initiatives include the Aemetis Biogas Central Dairy Project and the Carbon Zero project. Aemetis aims to leverage grant funding to enhance its renewable fuel operations, including a planned 45 million-gallon renewable fuel plant in California.
Aemetis, a renewable fuels company, reported its financial results for 2020, revealing revenues of $166 million, down from $202 million in 2019. Despite challenges from COVID-19, revenues for ethanol production remained relatively stable at $112 million. Gross profit margins improved by 6%, while SG&A expenses decreased. However, net losses increased to $36.7 million, although this represented a 7% improvement over 2019's losses. The company is progressing on its Carbon Zero project and expanding its renewable natural gas initiatives, aiming for enhanced profitability in 2021.
Aemetis, Inc. (NASDAQ: AMTX) has announced a conference call scheduled for March 11, 2021, at 11 am PST to discuss its fourth quarter and year-end earnings report for 2020. Investors can dial in or access the live webcast via the company’s website. Aemetis specializes in renewable natural gas, fuels, and biochemicals, and is expanding its biogas digester network while operating facilities in California and India. The company is also developing a Carbon Zero renewable jet and diesel production facility.
Aemetis, Inc. (NASDAQ: AMTX) has announced a comprehensive five-year plan aimed at achieving $1.07 billion in revenues and $325 million in adjusted EBITDA by 2025. This plan projects a 35% CAGR in revenues and a 109% CAGR in EBITDA from 2021. The growth is primarily driven by California's dairy Renewable Natural Gas (RNG) and ‘Carbon Zero’ renewable jet/diesel plants. Notably, revenues from the Dairy RNG project are expected to soar from $9 million in 2021 to $175 million in 2025, while the renewable jet/diesel plants are projected to generate $467 million in revenues.
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