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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 (NASDAQ: AMTX) has announced the completion of a 20-mile segment of its biogas pipeline project in Merced County, California, with construction of the remaining 19 miles approved and on track for completion in Q4 2022. This project, crucial for the company’s renewable natural gas (RNG) initiative, will connect dairy biogas to the gas cleanup facility, promoting carbon negative fuel use in transportation. The project will contribute to reducing greenhouse gas emissions significantly, aiming to eliminate emissions equivalent to 1 million cars annually and offset about 5 million metric tonnes of CO2.
Aemetis, Inc. (NASDAQ: AMTX) has signed a seven-year offtake agreement with Alaska Airlines for 13 million gallons of blended sustainable aviation fuel (SAF). This fuel is composed of 40% SAF and 60% Petroleum Jet A, set to be supplied to San Francisco International Airport. The partnership aims to enhance SAF availability in the Bay Area, contributing to aviation decarbonization. The production will occur at Aemetis's upcoming plant in Riverbank, California, which utilizes renewable electricity and captures CO2 to achieve below zero carbon intensity.
Aemetis (NASDAQ: AMTX) announced a six-year supply agreement with Trillium to provide approximately 600,000 MMBtu of renewable natural gas (RNG) for transportation fuel in California, replacing about 4.3 million gallons of diesel. This initiative supports Aemetis' goal of reducing carbon intensity in fuels. The company's biogas projects are expanding, with plans to produce 1.6 million MMBtu of RNG annually by 2026. The RNG is scheduled for delivery to Trillium in late 2022, pending certification from CARB.
Aemetis (NASDAQ:AMTX) reported a 22% revenue increase in Q1 2022, reaching $52.0 million compared to $42.8 million in Q1 2021, driven by higher ethanol prices at $2.58 per gallon. Although the company posted a net loss of $18.3 million, it saw an improvement in gross loss, decreasing to $3.1 million. Aemetis invested $11.4 million in carbon reduction projects and signed significant off-take agreements totaling $6.7 billion. Cash reserves decreased to $5.5 million, down from $7.8 million in Q4 2021.
Aemetis, Inc. (NASDAQ: AMTX) has announced a conference call to discuss its first quarter 2022 earnings report on May 12, 2022, at 11 am PST. Participants can join via toll-free and international dialing options or through a webcast available on the company's website. The company aims to transform renewable energy with low carbon intensity transportation fuels, including its Carbon Zero production process. Aemetis operates an ethanol plant in California and a biodiesel facility in India, focusing on innovative technologies to reduce greenhouse gas emissions.
Aemetis, a renewable fuels company, has signed an offtake agreement with JetBlue for the delivery of 125 million gallons of blended sustainable aviation fuel (SAF) over ten years, valued at approximately $530 million. The fuel, comprising 40% SAF and 60% petroleum jet fuel, is set to start deliveries in 2025. Aemetis aims to produce this fuel at its upcoming plant in Riverbank, California, which emphasizes carbon sequestration and utilizes renewable energy. The agreement aligns with JetBlue's climate commitments and California's renewable fuel incentives.
Aemetis, Inc. (NASDAQ: AMTX) has announced the completion of key developments in its Aemetis Biogas Central Dairy Project, including the construction of a third dairy digester and testing of a biogas pipeline. The $12 million facility will convert dairy biogas into renewable natural gas (RNG), with injection into the PG&E pipeline expected in early May 2022. The initiative aims to capture over 1.6 million MMBtu of dairy methane annually, significantly reducing CO2 emissions, equivalent to removing 1 million cars from the road. This expansion is part of Aemetis' strategy to meet increasing demand for carbon-negative fuels.
Aemetis, Inc. (NASDAQ: AMTX) announced a significant milestone as its Aemetis Biogas subsidiary completed testing for a $12 million biogas-to-renewable natural gas (RNG) upgrading facility in California. This facility enables the company to sell RNG with -426 carbon intensity to fleet customers in California. The biogas facility, co-located at the Aemetis Advanced Fuels Keyes ethanol plant, is ready for utility-grade RNG injection into PG&E’s pipeline, expected to start in May. The overall project aims to capture 1.6 million MMBtu of dairy methane annually, reducing CO2 emissions equivalent to over 1 million cars.
Aemetis, Inc. (NASDAQ: AMTX) has announced the acquisition of an 8.5-acre property on Faith Home Road for $2 million. Located near the Aemetis Keyes ethanol plant, this strategic site will support the company’s Carbon Zero projects, including renewable natural gas (RNG) and carbon capture and sequestration (CCS). The acquisition enhances access to transportation infrastructure and biogas resources, crucial for the ongoing Carbon Zero initiatives, which aim to produce low-carbon fuels to replace fossil fuels in various vehicles.
Aemetis, Inc. (NASDAQ: AMTX) has signed a seven-year offtake agreement with Finnair for 17.5 million gallons of blended sustainable aviation fuel (SAF), valued at approximately $70 million. The SAF, comprising 40% SAF and 60% Petroleum Jet A, will be produced at Aemetis' renewable jet/diesel plant in Riverbank, California, with deliveries starting in 2025. This contract is part of a larger $2 billion initiative by the one world Alliance to reduce aviation's environmental impact, supporting Finnair's goal for carbon neutrality by 2045.
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