Welcome to our dedicated page for Aemetis (DE) news (Ticker: AMTX), a resource for investors and traders seeking the latest updates and insights on Aemetis (DE) stock.
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 has commenced construction of a 2 MW solar microgrid with a 1.25 MW battery storage system in California, aimed at producing carbon-free electricity. The solar array is expected to generate approximately 3.2 million kWh annually, reducing greenhouse gas emissions by about 8,000 MT CO2e per year. Funded by an $8 million grant from the California Energy Commission, the $12 million project is projected for completion in Q2 2023. This initiative is part of Aemetis’ efforts to enhance energy efficiency and reduce the carbon intensity of its fuels.
Aemetis, Inc. (NASDAQ:AMTX) reported a 44% revenue increase for Q3 2022, totaling $71.8 million compared to $50 million in Q3 2021, driven by ethanolsales and India biodiesel shipments. However, the EPS was $(0.46), impacted by a $1.55 per share preferred shareholder redemption charge. Significant capital investments of $13.7 million in carbon reduction projects were made. The net loss for Q3 was $69.8 million, partly due to a one-time redemption charge. Year-to-date revenue reached $190 million, with gross losses of $4.4 million. Aemetis closed $25 million in project financing and made advancements in low carbon initiatives.
Aemetis, Inc. (NASDAQ: AMTX) will host a conference call on November 3, 2022, at 11 am PST to discuss its third quarter 2022 earnings report. Participants can join via toll-free and international dial-in numbers, and a webcast will be available on the company's website. Aemetis focuses on renewable energy solutions, producing zero-carbon and low-carbon fuels aimed at decreasing greenhouse gas emissions. The company is engaged in expanding a biogas network in California and operates ethanol and biodiesel production facilities.
Aemetis, Inc. (NASDAQ: AMTX) announced the closing of $25 million in long-term financing with Greater Commercial Lending (GCL) to develop a biogas project in Stanislaus County, California. The financing, guaranteed by the USDA, aims to construct dairy biogas digesters and a pipeline to convert methane from dairy waste into renewable natural gas (RNG). This initiative is poised to capture over 1.65 MMBtu of dairy methane annually, potentially reducing greenhouse gas emissions equivalent to 6.8 million metric tonnes of CO2 over ten years.
Aemetis (NASDAQ: AMTX) has demonstrated a dual fuel system in partnership with the American Power Group, allowing diesel engines to run on up to 65% renewable natural gas (RNG) and 35% diesel. This technology offers significant cost savings, with annual fuel savings exceeding $30,000 per truck. The conversion cost is approximately $25,000 and can be completed in less than a day. Aemetis aims to produce carbon-negative fuels while maximizing agricultural waste usage. The patented system aligns with California's transition to cleaner energy and significantly reduces emissions from diesel-powered fleets.
Aemetis (NASDAQ: AMTX) has signed a significant offtake agreement with Cathay Pacific Airways for 38 million gallons of blended sustainable aviation fuel (SAF) over 7 years. The SAF, composed of 40% SAF and 60% Petroleum Jet A, will help Cathay Pacific achieve its net-zero carbon emissions target by 2050. Deliveries are expected to start in 2025 from Aemetis' renewable jet/diesel plant in California. The project, powered by renewable electricity and designed for CO2 capture, aims to permanently store around 300,000 metric tonnes of CO2 annually.
Aemetis (NASDAQ: AMTX) announced progress on its Carbon Zero sustainable aviation fuel and renewable diesel plant in Riverbank, California. Engineering work by CTCI Americas is on schedule for permitting and procurement to start in Q4 2022. The plant, located on a 125-acre site, aims to produce 90 million gallons per year of renewable fuels using renewable hydrogen and hydroelectric electricity. Collaborating with ATSI, Aemetis is utilizing extensive engineering expertise to ensure efficient project execution. This initiative supports the company's mission to reduce greenhouse gas emissions significantly.
Aemetis, Inc. (NASDAQ: AMTX) announced supply agreements totaling $7 billion for sustainable aviation fuel (SAF) and renewable diesel (RD) with ten airlines, including Cathay Pacific. These contracts encompass 916 million gallons of blended SAF, valued at approximately $3.8 billion, and will be delivered over seven to ten years. The production will occur at a new facility in Riverbank, California, which aims to utilize renewable resources to minimize greenhouse gas emissions. The airline agreements target major carriers like Delta and American Airlines, contributing to the aviation industry's decarbonization efforts.
Aemetis, Inc. (NASDAQ: AMTX) has commissioned the first Mitsubishi ZEBREX™ system in North America at its Keyes ethanol plant, enhancing operational efficiency and sustainability. This technology is expected to reduce energy costs by over $5 million annually and lower petroleum natural gas consumption by more than 20%, generating approximately $3.4 million in savings per year. The project, costing around $10 million, is backed by over $1 million in grant funding. The upgrades aim to significantly decrease carbon emissions, aligning with Aemetis' goal of producing below zero carbon intensity renewable fuels.
Aemetis (NASDAQ: AMTX) announced that its Universal Biofuels subsidiary in India will supply approximately 8 million gallons of biodiesel over the next two months, generating an estimated $41 million in revenue. This demand arises from three government-controlled oil companies and a major oil refiner, driven by India's National Biofuels Policy which aims to reduce air pollution and enhance domestic fuel production. The biodiesel plant is expected to operate at nearly 100% capacity, meeting ongoing market needs.
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