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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), a renewable fuels company, has announced the closing of two new credit facilities totaling up to $100 million. These facilities, offered by Third Eye Capital, feature lower interest rates of 8% for capital projects and 10% for working capital. The financing aims to fund projects that reduce carbon intensity, including upgrades to the Keyes ethanol plant and the development of a sustainable aviation fuel plant. Aemetis has also entered into significant supply agreements worth $3.2 billion for renewable diesel and $2.5 billion for sustainable aviation fuel.
Aemetis (NASDAQ:AMTX) announced its 2022 Five Year Plan, projecting $1.5 billion in revenue and $461 million in adjusted EBITDA by 2026. This reflects a compound annual growth rate of 39% in revenue and 79% in EBITDA from 2022 to 2026. The growth is largely driven by dairy Renewable Natural Gas and the Carbon Zero renewable jet/diesel project. The company secured $5.7 billion in offtake agreements and has received substantial grant funding to support its green initiatives.
Aemetis, Inc. (NASDAQ: AMTX) announced that Andy Foster, President of Aemetis Advanced Fuels, has joined the Board of Directors for Opportunity Stanislaus, a regional economic development agency in California. Foster, with extensive leadership experience since Aemetis' founding in 2006, manages substantial renewable fuel projects and investments exceeding $150 million. His appointment is expected to enhance economic growth and job opportunities in Stanislaus County, leveraging a supportive environment for businesses. Aemetis focuses on renewable natural gas and biofuels, aiming to decarbonize transportation.
Aemetis, Inc. (NASDAQ: AMTX) announced its Universal Biofuels subsidiary will build a tallow oil refining facility in Kakinada, India. This facility aims to supply feedstock to Aemetis' biodiesel plant in India and the upcoming sustainable aviation fuel (SAF) and renewable diesel (RD) plant in California. The refinery will process crude tallow oil, expanding the range of feedstocks for biodiesel production. India's new regulations favor biodiesel blending, enhancing market opportunities. The Kakinada biodiesel plant has a capacity of 150,000 metric tonnes annually, processing diverse oils into high-quality biodiesel.
Aemetis, a renewable fuels company (NASDAQ: AMTX), has signed a seven-year offtake agreement with Japan Airlines for 90 million gallons of blended sustainable aviation fuel (SAF). The agreement supports JAL's commitment to reduce conventional jet fuel consumption, targeting 1% by 2025 and 10% by 2030. The SAF blend consists of 40% SAF and 60% Petroleum Jet A, expected to start deliveries in 2025 from Aemetis' planned facility in Riverbank, California. This initiative is part of Aemetis’ mission to lower carbon emissions in aviation.
Aemetis, Inc. (NASDAQ: AMTX) has partnered with SunPower and Schneider Electric to create a nearly 2 MW solar microgrid with 1.25 MW of battery storage at its biorefinery in Keyes, California. The $12 million project, backed by an $8 million grant from the California Energy Commission, aims to generate 3.2 million kWh annually and reduce greenhouse gas emissions by approximately 8,000 MT CO2e each year. The microgrid will enhance energy efficiency and resilience, utilizing an AI-driven control system to lower hardware requirements by 80%.
Aemetis, Inc. (NASDAQ: AMTX) has announced the completion of an additional seven miles of biogas pipeline for its dairy renewable natural gas project, bringing the total installed to over 11 miles. The company plans to construct a total of 36 miles by the end of 2022. This expansion includes five new dairy digesters that are expected to begin production mid-year. The project aims to reduce greenhouse gas emissions by an estimated 5.2 million metric tonnes of CO2 annually and has garnered $57 million in grant funding.
Aemetis, Inc. (NASDAQ: AMTX) announced that CEO Eric McAfee will present at the Credit Suisse Energy Summit on February 28, 2022, discussing $5 billion in new contracts for renewable fuels including Sustainable Aviation Fuel (SAF) and Renewable Diesel. The company has secured $2 billion contracts with major airlines and a $3.1 billion supply contract for renewable diesel. Aemetis is also constructing a Dairy RNG project in California, expected to significantly reduce greenhouse gas emissions. The projects are supported by $57 million in funding from various U.S. government agencies.
Aemetis signed a Master Developer Agreement with the City of Riverbank for the lease/purchase of a 125-acre industrial site featuring 710,000 sq. ft. of buildings, a four-mile railroad, and a hydroelectric substation. The facility will house the Carbon Zero 1 biorefinery, producing 90 million gallons annually of sustainable aviation fuel and renewable diesel. This initiative is expected to create over 2,000 jobs, support regional economic growth, and utilize wood waste from orchards for renewable hydrogen production. Aemetis has secured $5 million in grants and substantial supply agreements with major airlines.
Aemetis, Inc. (NASDAQ: AMTX) has signed a major 10-year agreement to supply 450 million gallons of renewable diesel to a leading travel stop company, projected to generate over $3 billion in revenue. The renewable diesel will enable approximately 3.6 billion miles of transportation, aligning with environmental goals by reducing emissions from heavy-duty vehicles. This contract forms part of Aemetis's broader strategy, having secured more than $5 billion in binding contracts for its Carbon Zero facility in Riverbank, California.
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