Aemetis Selects Axens Vegan® Technology for its Carbon Zero Project in Riverbank, California for the production of Renewable Diesel and Sustainable Aviation Fuel

CUPERTINO, CA – April 22, 2021 – Aemetis, Inc. (NASDAQ: AMTX), a leading producer of below zero carbon intensity dairy Renewable Natural Gas (RNG) and developer of the “Carbon Zero” renewable jet/diesel biorefineries using negative carbon intensity cellulosic hydrogen, announced today that Aemetis has selected Axens Vegan® Renewable Hydroprocessing technology for its “Carbon Zero 1” production plant in Riverbank, California.

The Axens scope will include technology license, basic engineering, catalyst supply, and proprietary equipment for the conversion of ultra-low carbon intensity, non-edible vegetable and other non-edible oils along with renewable cellulosic hydrogen to produce a flexible mix of sustainable aviation fuel (SAF) and renewable diesel fuel.

“The Axens technology provides high yields of jet fuel while maximizing the carbon capture and sequestration value that is unique to the Aemetis Carbon Zero 1 project,” said Eric McAfee, Chairman and CEO of Aemetis.  “The experienced Axens team has been highly responsive and proactive, enabling our project to move forward on schedule and within our budget expectations.  We believe that the Axens technology will provide much better overall economics while having a lower capital cost than alternative technologies for renewable jet and diesel fuel production.”

“Axens shares and is committed to support the Aemetis plan to produce ultra-low or below zero carbon liquid fuels from renewable sources. Our engagement as the technology partner for the Carbon Zero project in Riverbank, California is another example of the decades of renewable technology development, commercialization, and operational support we bring to visionaries such as the Aemetis team,” stated Romain Lemoine, VP of Process Licensing, Axens Americas.

The Aemetis “Carbon Zero 1” plant has a planned capacity of 45 million gallons per year and will be located at the 142-acre Riverbank Industrial Complex, a former US Army ammunitions plant in Riverbank, California.

Aemetis recently announced a $2 billion bid process to airlines and fuel blenders for the Carbon Zero 1 plant and is finalizing offtake agreements.  Carbon Zero renewable jet and diesel fuel may be used in today’s airplane, truck, and ship fleets without changes to fueling infrastructure or engines.

Aemetis has received $17 million of grant funding from the California Energy Commission (CEC) and the California Alternative Energy and Advanced Transportation Financing Authority (CAEFTA) to support its Riverbank advanced biofuels project activities.

 

About Axens

Axens (www.axens.net) is a group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates, as well as natural gas treatment and conversion options.  The products and services offered include technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services.  Axens is ideally positioned to cover the entire value chain from feasibility study to unit start-up and follow-up throughout the entire unit cycle life.  This unique position ensures the highest level of performance with a reduced environmental footprint.  Axens global product and services are based on highly trained human resources, modern production facilities and an extended global network for industrial, technical support & commercial services. Axens is an IFP Group company.

Axens Vegan® technology is designed to hydrotreat a wide range of lipids and to produce a flexible slate of low-density and high cetane renewable diesel as well as renewable jet fuel.  This Axens renewable fuels technology allows producers to effectively address today’s environmental regulations and secure energy diversification with drop-in premium quality products.

 

About Aemetis

Aemetis has a mission to transform renewable energy with below zero carbon intensity transportation fuels. Aemetis has launched the “Carbon Zero” production process to decarbonize the transportation sector using today’s infrastructure.

Aemetis Carbon Zero plants produce below zero carbon intensity fuels that can immediately “drop in” for use in airline, truck and ship fleets.  Aemetis below-zero and low carbon fuels have substantially reduced carbon intensity compared to standard petroleum fossil-based fuels across their lifecycle.

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and bioproducts company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero plant in Riverbank, California to convert cellulosic hydrogen from waste orchard wood and renewable electricity from solar and hydroelectric sources into renewable jet and diesel fuel.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and bioproducts.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts.  Forward-looking statements in this news release include, without limitation, statements relating to our five-year growth plan, future growth in revenue, net income and adjusted EBITDA, market size for our products, expansion into new markets, our ability to commercialize and scale the licensed patented technology, the ability to obtain sufficiently low Carbon Intensity scores to achieve below zero carbon intensity transportation fuels, the development of the Aemetis Biogas Central California Dairy Project, the development of the Aemetis Carbon Zero 1 plant at the Riverbank site, the upgrades to the Aemetis Keyes ethanol plant, the development of the Aemetis Carbon Capture projects, and the ability to access the funding required to execute on project construction and operations.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue,” “enable” or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2020, and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

 

Aemetis Updates Presentation of Five-Year Plan Targeting $1 Billion of Revenue by 2025 for BofA Securities RNG Investor Conference on April 21st

CUPERTINO, CA – April 21, 2021 – Aemetis, Inc. (NASDAQ: AMTX), a leading producer of below zero carbon intensity dairy Renewable Natural Gas (RNG) and developer of the “Carbon Zero” renewable jet/diesel biorefineries using negative carbon intensity cellulosic hydrogen, has updated the presentation of its five year plan that positions the company to generate $1.07 billion of revenues and $325 million of adjusted EBITDA in year 2025.

The Aemetis five year plan is being presented at the BofA Securities RNG Conference, including a presentation on Wednesday, April 21 by Eric McAfee, Chairman and CEO of Aemetis.  The presentation also will be filed today with the SEC under Form 8-K.

The revenues growth plan is a CAGR of 35% and the EBITDA growth plan is a CAGR of 109% for the years 2021 to 2025.

“The updated presentation includes a description of the projects under development by our new Aemetis Carbon Capture subsidiary to build Carbon Capture & Sequestration (CCS) for our biofuels plants and potentially other refineries to significantly reduce the carbon intensity of our products,” said Eric McAfee, Chairman and CEO of Aemetis.  “A recent Stanford University Center for Carbon Capture study evaluated the largest 61 carbon emission sites in California, comprised of oil refineries, cement plants and natural gas power plants.  The study identified that the ethanol plants in California were by far the most profitable locations for carbon injection and storage.  The Aemetis plant and the Riverbank site are located over a shale caprock about 7,000 feet underground that creates an attractive CO2 storage formation without requiring a CO2 pipeline, reducing the capital investment and operating costs significantly compared to other CCS projects.”

The majority of the Company’s revenue growth is expected to come from California dairy Renewable Natural Gas and the Aemetis “Carbon Zero” renewable jet/diesel plants using negative carbon intensity cellulosic hydrogen produced from waste almond orchard wood in Central California.

The Aemetis Dairy RNG project plan shows revenues growing from $9 million in 2021 to $175 million in 2025, while Dairy RNG project EBITDA expands from $4 million in 2021 to $141 million in 2025.

The Aemetis “Carbon Zero” renewable jet/diesel plants utilizing estimated -80 negative carbon intensity cellulosic hydrogen are planned to grow to $467 million revenues and EBITDA of $136 million in year 2025.

The Company’s Carbon Zero jet and diesel plant design commercializes patented technology exclusive to Aemetis for the production of renewable jet fuel and renewable diesel for aviation and commercial truck markets.  The Aemetis “Carbon Zero 1” plant has a planned capacity of 45 million gallons per year and will be located at the 142-acre Riverbank Industrial Complex, a former US Army ammunitions plant in Riverbank, California.

Aemetis recently announced a $2 billion bid process to airlines and fuel blenders for the Carbon Zero 1 plant and is finalizing offtake agreements.  The Carbon Zero jet and diesel fuels may be used in today’s airplane, truck, and ship fleets without significant changes in fueling infrastructure or engines.

Using an estimated -80 carbon intensity cellulosic hydrogen instead of +170 CI petroleum hydrogen, the profitability of renewable diesel and jet fuel produced from cellulosic hydrogen and low CI non-food corn oil from the Keyes ethanol plant is increased significantly.

Aemetis has received $57 million of grant funding to support its carbon reduction upgrades at the Keyes plant, the -426 carbon intensity dairy RNG project, and the Riverbank jet/diesel plant project.  Funding and grant awards have been provided by the USDA, the US Forest Service, the California Energy Commission, the California Department of Food and Agriculture, and PG&E’s energy efficiency program.

 

About Aemetis

Aemetis has a mission to transform renewable energy with below zero carbon intensity transportation fuels. Aemetis has launched the “Carbon Zero” production process to decarbonize the transportation sector using today’s infrastructure.

Aemetis Carbon Zero plants produce below zero carbon intensity fuels that can immediately “drop in” for use in airline, truck and ship fleets.  Aemetis below-zero and low carbon fuels have substantially reduced carbon intensity compared to standard petroleum fossil-based fuels across their lifecycle.

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and bioproducts company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero plant in Riverbank, California to convert cellulosic hydrogen from waste orchard wood and renewable electricity from solar and hydroelectric sources into renewable jet and diesel fuel.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and bioproducts.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts.  Forward-looking statements in this news release include, without limitation, statements relating to our five-year growth plan, future growth in revenue, net income and adjusted EBITDA, market size for our products, expansion into new markets, our ability to commercialize and scale the licensed patented technology, the ability to obtain sufficiently low Carbon Intensity scores to achieve below zero carbon intensity transportation fuels, the development of the Aemetis Biogas Central California Dairy Project, the development of the Aemetis Carbon Zero 1 plant at the Riverbank site, the upgrades to the Aemetis Keyes ethanol plant, the development of the Aemetis Carbon Capture projects, and the ability to access the funding required to execute on project construction and operations.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue,” “enable” or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2020, and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

 

Aemetis CEO Eric McAfee to Present at the Credit Suisse Renewables and Utilities Conference on May 13-14, 2021

Presentation to Institutional Investors and Private Meetings

CUPERTINO, CA – April 14, 2021 – Aemetis, Inc. (NASDAQ: AMTX) announced today that Chairman and CEO Eric McAfee will make a presentation and attend one-on-one meetings with institutional investors at the Credit Suisse Renewables & Utilities Conference on May 13-14, 2021.

The presentation will focus on carbon sequestration; negative 426 (-426) carbon intensity renewable natural gas; negative carbon intensity renewable jet/diesel fuel; and other below-zero-carbon projects that Aemetis is undertaking to maximize the value of the California Low Carbon Fuel Standard, the federal Renewable Fuel Standard, and IRS 45Q tax credits for carbon sequestration.

McAfee’s presentation will feature the Aemetis Carbon Capture projects, the Aemetis Central Dairy Biogas Project, and the Aemetis Carbon Zero renewable jet and diesel plants.  The presentation will be posted on the Investors section of the Aemetis website at http://www.aemetis.com/investors/presentation/.

The Aemetis Carbon Capture project at the Aemetis biofuels plant near Modesto was cited by an October 2020 Stanford Carbon Capture Center study as one of the most sustainable and highly profitable potential CCS projects in California.  The Aemetis Keyes ethanol plant was ranked as one of the top three CCS sites in the state compared to the largest 61 carbon emission sources in the state.

The Aemetis Carbon Zero renewable jet and diesel plant, the Aemetis Central Dairy Biogas renewable natural gas project, and the energy efficiency upgrades to the Aemetis Keyes ethanol plant include $57 million of grant funding and other support from the USDA, the US Forest Service, the California Energy Commission, the California Department of Food and Agriculture, CAEFTA, and PG&E’s energy efficiency program.

 

About Aemetis

Aemetis has a mission to transform renewable energy into below zero carbon transportation fuels. Aemetis has launched the Carbon Zero production process to decarbonize the transportation sector using today’s infrastructure.

Aemetis Carbon Zero products include zero carbon fuels that can immediately “drop in” to be used in airplane, truck and ship fleets.  Aemetis low-carbon fuels have substantially reduced carbon intensity compared to standard petroleum fossil-based fuels across their lifecycle.

Headquartered in Cupertino, California, Aemetis is a carbon sequestration, renewable natural gas, renewable fuel and bioproducts company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products with below zero carbon emission products.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero renewable jet and diesel biorefinery in Riverbank, California to convert renewable hydrogen from waste orchard wood and renewable electricity from solar and hydroelectric sources along with renewable oils into renewable jet fuel, renewable diesel, cellulosic ethanol and renewable hydrogen.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and bioproducts.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts.  Forward-looking statements in this news release include, without limitation, statements relating to our ability to commercialize and scale the licensed patented technology, the ability to obtain sufficiently low Carbon Intensity score to achieve below zero carbon intensity transportation fuel, the development of the Aemetis projects, and the ability to access the funding required to execute on plant construction and operations.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue,” “enable” or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission (the “SEC”), including the Aemetis Annual Report on Form 10-K for the year ended December 31, 2020, and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

Aemetis Establishes Carbon Capture Subsidiary for CO2 Sequestration to Further Reduce the Carbon Intensity of Dairy RNG and Renewable Fuels

California Central Valley is an Established CO2 Injection Region supporting Carbon Sequestration projects for Aemetis Dairy RNG Projects, Ethanol Plant, and Renewable Jet/Diesel Plant under Development

CUPERTINO, Calif. – April 1, 2021 – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, announced today that the company’s board of directors has approved the establishment of a new subsidiary named Aemetis Carbon Capture, Inc.  California’s Central Valley is well established as a major region for large-scale CO2 injection projects due to the geologic formation of subsurface shale caprock that safely contains and retains gases.

The company’s carbon capture business unit will initially capture, dehydrate, compress, and sequester CO2 from Aemetis Biogas anaerobic dairy digester projects to further reduce the carbon intensity (CI) of its dairy biogas, which was recently certified by CARB as negative 426 (-426) for a Fuel Pathway established by Aemetis utilizing biogas from the company’s first two operating dairy lagoon anaerobic digesters for the production of renewable fuel. Currently, the -426 Aemetis dairy biogas carbon intensity score does not include the value of CO2 Carbon Capture & Sequestration (CCS).

The planned 52 dairies in the Aemetis Biogas projects are expected to produce approximately 1.4 million MMBtu’s of dairy Renewable Natural Gas and about 50,000 metric tonnes of CO2 each year.  The Aemetis ethanol plant currently produces approximately 150,000 metric tonnes of CO2 per year, and the renewable jet/diesel plant under development is expected to produce 160,000 tonnes per year of CO2.

When related to transportation fuels production, CO2 sequestered underground is estimated to generate approximately $200 per metric tonne under the California Low Carbon Fuel Standard (LCFS).  The IRS 45Q tax credit value for sequestered CO2 is approximately $50 per tonne.

According to the EPA, approximately one metric tonne of CO2 is emitted for every 2,500 miles driven in a passenger car.  Capturing and sequestering the annual CO2 from biogas generated by 52 dairies can offset the CO2 emissions from up to 125,000,000 passenger car miles.

“Significant new legislation has been introduced in Congress to support the existing California LCFS and IRS 45Q carbon intensity reduction programs with additional carbon sequestration grants, investment tax credits, and other support,” said Eric McAfee, Chairman and CEO of Aemetis, Inc.  “The formation of Aemetis Carbon Capture, Inc. is a key milestone in achieving a significant increase in the value of RNG by adding Carbon Capture & Sequestration to reduce the carbon intensity of the RNG produced from dairies.  The Aemetis Biogas projects with carbon sequestration by Aemetis Carbon Capture provide dairies with a compelling opportunity to  avoid liability for methane emissions under the LCFS program.  Over the next five years, Aemetis plans to invest more than $300 million into dairy RNG and CCS projects that are already operating or in development,” added McAfee.

The Aemetis Biogas Central Dairy Digester Project is a collection of dairy digesters and a 36 mile pipeline with gas cleanup and compression that are built, owned, and operated by Aemetis Biogas LLC.  The project  produces renewable methane gas which is converted to negative carbon intensity RNG for transportation use to displace petroleum diesel fuel.  An estimated 25% of total methane emissions in California is produced by dairy waste lagoons.

In September 2020, Aemetis Biogas LLC completed two dairy digesters and four miles of private biogas pipeline, which is already powering the production of low carbon biofuels at the Aemetis ethanol plant in Keyes, California.  A 32-mile Aemetis pipeline extension recently received CEQA permit approval to carry biogas from dairies in Stanislaus and Merced counties to the Keyes plant for biogas cleanup and conversion to RNG for sale as transportation fuel.

The company plans to begin construction of the next five dairy digesters and the additional 32 miles of biogas pipeline in the second quarter of 2021, with five more dairy digesters set to begin construction in the third quarter of 2021 and five digesters beginning in the first quarter of 2022, for a planned total of 17 dairy digesters and a 36 mile biogas pipeline in operation by the second quarter of 2022.

The common membership units of Aemetis Biogas LLC are wholly owned by Aemetis, Inc.

 

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas dairy digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero renewable jet and diesel fuel integrated biorefineries in California to utilize distillers corn oil from ethanol plants to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard wood and other negative carbon intensity biomass, and pre-extract cellulosic sugars from the waste biomass to be processed into high value cellulosic ethanol at the Keyes plant.  Aemetis holds a portfolio of patents and related technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the construction and operation of the dairy digester and pipeline project in Central California, the construction and operation of carbon capture and sequestration projects in Central California, continued governmental programs and support for renewable fuels, the continued compliance with and qualification under governmental programs, and the ability to access markets and funding to execute our biogas and carbon capture business plans.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

Aemetis Receives LCFS Pathway Approval Utilizing Dairy Biogas For Production of Renewable Transportation Fuel

Negative 426 Carbon Intensity Biogas Used as Process Energy to Reduce Ethanol CI and Generate Additional LCFS Credits

 

CUPERTINO, Calif. – March 31, 2021 – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, announced today that it has received certification from the California Air Resources Board (CARB) for a new LCFS Tier 2 fuel pathway for the Aemetis Advanced Fuels Keyes ethanol production plant utilizing renewable dairy biogas as a process energy input.  The new pathway reduces the carbon intensity (CI) of Aemetis’ fuel ethanol from 67.3 to 65.6 utilizing dairy biogas from two dairies with an average CI score of negative 426 (-426).

Aemetis began operating two anaerobic dairy digesters and a 4-mile private pipeline in September 2020 near the company’s ethanol biorefinery in Keyes, California.  The new ethanol pathway certification from CARB is effective as of October 1, 2020.

The Aemetis Central Dairy Digester Project is a collection of dairy lagoon anerobic digesters that are built, owned, and operated by Aemetis Biogas LLC utilizing waste animal manure to generate renewable methane gas to produce negative carbon intensity RNG for transportation use to displace petroleum diesel fuel.  An estimated 25% of methane emissions in California is produced by dairy waste lagoons.

Once complete, the Aemetis Central Dairy Digester Project is expected to include over 30 dairy digesters in the current phase (with plans to expand to more than 52 dairies), and utilize 36 miles of private pipeline owned by Aemetis, a centralized gas clean up unit located at the Aemetis Keyes ethanol biorefinery, a Renewable Natural Gas onsite fueling station, and an interconnection to PG&E’s natural gas pipeline.

“This is another significant step in our multi-year plan to de-carbonize the Keyes ethanol production facility,” said Eric McAfee, Chairman and CEO of Aemetis, Inc.  “This CARB Pathway approval is our first utilization of negative CI dairy biogas to produce transportation fuel.  The Aemetis Keyes biorefinery is expected to serve as the hub for the processing and distribution of our negative carbon intensity RNG and allow us to serve multiple markets with low or below zero CI liquid and gas renewable fuels.  We’d like to thank the staff at CARB for their diligent and professional work. We look forward to working with them as we rapidly expand the deployment of our negative CI transportation fuel,” added McAfee.

The Company plans to begin construction of the next five dairy digesters and the additional 32 miles of biogas pipeline in the second quarter of 2021, with five more dairy digesters set to begin construction in the third quarter of 2021 and five digesters beginning in Q1 2022, for a planned total of seventeen dairy digesters and a 35-mile biogas pipeline in operation by Q2 2022.

 

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero renewable jet and diesel fuel integrated biorefineries in California to utilize distillers corn oil from ethanol plants to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard wood and other negative carbon intensity biomass, and pre-extract cellulosic sugars from the waste biomass to be processed into high value cellulosic ethanol at the Keyes plant.  Aemetis holds a portfolio of patents and related technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the construction and operation of the dairy digester and pipeline project in Central California, the continued compliance with and qualification under governmental programs, and the ability to access markets and funding to execute our biogas business plan.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

 

Aemetis Receives Approval for 32 Mile Extension of Biogas Pipeline for Dairy RNG Project

Company Passes Key Environmental Permitting Milestone; Proceeding with Plans for Pipeline and Dairy Digester Construction in the Second Quarter of 2021

CUPERTINO, Calif. – March 17, 2021 – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on below zero carbon intensity products, today announced that by a unanimous vote the Stanislaus County Board of Supervisors accepted and approved the Aemetis Biogas Initial Study/Mitigated Negative Declaration for construction of a 32 mile extension to the existing Aemetis Biogas four mile private pipeline that was completed in 2020.

The pipeline is designed to carry biogas from dairies as part of the Aemetis Central Dairy Digester Project, which is planned to span across the Stanislaus and Merced counties in Central California.  The approval is necessary to meet the permitting requirements of the California Environmental Quality Act (CEQA) prior to pipeline construction and confirms that mitigation measures in the proposed project will avoid or mitigate any impacts on the environment.

“Receiving CEQA approval for our pipeline project is a significant milestone for the Aemetis Biogas renewable natural gas (RNG) project and puts us on a solid path to begin construction of the 32 mile pipeline extension that will convey biogas from approximately 30 dairy digesters to our centralized gas cleanup unit co-located at the Aemetis Advanced Fuels Keyes ethanol plant,” said Eric McAfee, Chairman and CEO of Aemetis, Inc.  “After the dairy biogas is upgraded to RNG by the gas cleanup unit at the Keyes plant, we expect to have multiple alternatives to generate revenues from Low Carbon Fuel Standard (LCFS) and Renewable Fuel Standard (RFS) credits.  We plan on using the RNG to fuel trucks by dispensing RNG at the renewable compressed natural gas (R-CNG) fueling station we are building at the Keyes plant, inject the RNG into the PG&E utility pipeline using an interconnection unit that is scheduled for completion in Q3 2021, or utilize the RNG as process energy to displace carbon-intensive petroleum natural gas at the Keyes biorefinery.  We believe this flexible go-to-market approach ensures our ability to capture the maximum value for LCFS and RFS credits and gives us a unique advantage as a dairy RNG producer in California,” added McAfee.

The Aemetis Biogas Central Dairy Digester Project is a collection of dairy lagoon anerobic digesters that are being built, owned, and operated by Aemetis Biogas LLC, utilizing waste animal manure to generate renewable methane gas to produce RNG.  About 25% of the methane emissions in California are emitted from dairy waste lagoons, and California Senate Bill 1383 provides grant funding and mandates for the capture of methane by dairies.

In the fourth quarter of 2020, Aemetis Biogas began operating the first two digesters and the initial four-mile pipeline in the RNG project.  The Company plans to begin construction of the next five dairy digesters and the additional 32 miles of biogas pipeline in the second quarter of 2021, with five more dairy digesters set to begin construction in the third quarter of 2021 and five digesters beginning in Q1 2022, for a planned total of seventeen dairy digesters and a 36 mile pipeline in operation by Q2 2022.

The common membership units of Aemetis Biogas LLC are wholly owned by Aemetis, Inc.

 

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero renewable jet and diesel fuel integrated biorefineries in California to utilize distillers corn oil from ethanol plants to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard wood and other negative carbon intensity biomass, and pre-extract cellulosic sugars from the waste biomass to be processed into high value cellulosic ethanol at the Keyes plant.  Aemetis holds a portfolio of patents and related technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the construction and operation of the dairy digester and pipeline project in Central California, the continuation of compliance with governmental programs, and the ability to access markets and funding to execute our biogas business plan.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

 

Aemetis India Renewable Fuels Plant Selected for $3 million Per Month Supply of Biodiesel to Andhra Pradesh State Road Transport

Expected 10 million gallons per year is approximately 20% of biodiesel plant capacity

CUPERTINO, CA – March 16, 2021 – Aemetis, Inc. (NASDAQ: AMTX) announced today that its Universal Biofuels subsidiary located in the Andhra Pradesh state of India was selected by the Andhra Pradesh State Road Transport Corp. (“APSRTC”) to supply approximately 800,000 gallons per month of biodiesel to fuel public transport buses in the region.  The arrangement is expected to be ongoing to meet the needs of APSRTC.  The State of Andhra Pradesh has a population of 84 million people, including approximately 28,000 villages.

“After an initial ramp up period, revenues from the APSRTC supply agreement are expected to be about 20% of our plant capacity generating $36 million per year including glycerin byproducts, for a total of $180 million under the recently announced Aemetis Five Year Plan,” stated Eric McAfee, Chairman and CEO of Aemetis.  “We built our 50 million gallon per year capacity biodiesel plant in the port city of Kakinada in the State of Andhra Pradesh on the East Coast of India to convert waste from the edible oil industry into high quality biodiesel.  The selection of Universal Biofuels to supply APSRTC is the result of many years of reliably producing a high quality product and building our reputation as a proven large scale producer.”

Currently, APSRTC operates 11,522 buses with 423 bus stations, 128 depots and 692 bus shelters.  The Corporation’s buses connect villages to all major towns and cities in the State of Andhra Pradesh, as well as cities in the neighboring States of Tamilnadu, Karnataka, Odisha, and Telangana.

In 1999, APSRTC entered the Guinness Book of World Records for owning the largest fleet of buses in the world.  The supply agreement was arranged after the Aemetis plant was evaluated  and approved for quality and production capacity by the APSRTC Head of Engineering.

The Aemetis Corporate Presentation is posted on the Investors section of the Aemetis website at http://www.aemetis.com/investors/presentation/.

 

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and bioproducts company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero biorefinery in Riverbank, California to convert renewable hydrogen from waste orchard wood and renewable electricity from solar and hydroelectric sources combined with non-edible oils into renewable jet fuel and renewable diesel, while pre-extracting cellulosic sugars for use by the Keyes ethanol plant to produce cellulosic ethanol.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and bioproducts.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts.  Forward-looking statements in this news release include, without limitation, statements relating to the production or effectiveness of the India production facility, the ability to supply product under this arrangement, and the continuance of governmental mandates and supply contracts for biodiesel.   Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue,” “enable” or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission (the “SEC”), including the Aemetis Annual Report on Form 10-K for the year ended December 31, 2020, and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

Aemetis CEO Eric McAfee to Present at the 33rd Roth Capital Conference on March 15-17, 2021

Presentations to Institutional Investors and Stock Analysts

CUPERTINO, CA – March 12, 2021 – Aemetis, Inc. (NASDAQ: AMTX) announced today that Chairman and CEO Eric McAfee will present to institutional investors and stock analysts at the Virtual 33rd Roth Capital Conference on March 15-17, 2021.

The presentations will include the Aemetis Five Year Plan focused on negative carbon intensity renewable natural gas, renewable jet/diesel fuel produced using cellulosic hydrogen, and other low carbon intensity renewable fuels projects that Aemetis is undertaking to maximize the value of the California Low Carbon Fuel Standard, federal Renewable Fuel Standard, and IRS 45Q carbon sequestration tax credits.

McAfee’s presentation will feature the Aemetis Biogas Central Dairy Project and the Aemetis Carbon Zero renewable jet and diesel fuel project, as well as the existing 65 million gallon per year ethanol plant in Keyes, California and the 50 million gallon per year capacity high grade distilled biodiesel plant in India.

The Aemetis Five Year Plan presentation is posted on the Investors section of the Aemetis website at http://www.aemetis.com/investors/presentation/.

The Aemetis dairy Renewable Natural Gas (RNG) project has completed two digesters, a four-mile pipeline and a unit to utilize the biogas to replace petroleum natural gas in operating the Keyes ethanol plant near Modesto, CA.  An additional 15 dairies and 31 miles of pipeline, as well as biogas cleanup, compression and utility pipeline interconnection units, are being built and are scheduled to be operational by Q2 2022.

The Aemetis Carbon Zero renewable jet and diesel plant design commercializes patented technology exclusive to Aemetis for the production of renewable jet and diesel fuel for aviation and commercial truck markets utilizing negative carbon intensity cellulosic hydrogen from waste orchard wood.  The Aemetis “Carbon Zero 1” plant has a planned capacity of 45 million gallons per year and will be located at the 142-acre Riverbank Industrial Complex, a former US Army ammunition plant in Riverbank, California.

The renewable jet and diesel fuel produced at the Aemetis Carbon Zero plant may be used in today’s airplane, truck, and ship fleets without significant changes in fueling infrastructure or engines. Aemetis recently announced a $2 billion bid process to airlines and fuel blenders for the Carbon Zero biorefinery.

The Aemetis Carbon Zero 1 renewable jet and diesel fuel plant, the Aemetis Biogas Central Dairy renewable natural gas project, and energy efficiency upgrades to the Aemetis Keyes ethanol plant include $38 million of grant funding and other support from the USDA, the US Forest Service, the California Energy Commission, the California Department of Food and Agriculture, and PG&E’s energy efficiency program.

 

About Aemetis

Aemetis has a mission to transform renewable energy into below zero carbon transportation fuels. Aemetis has launched the Carbon Zero production process to decarbonize the transportation sector using today’s infrastructure.

Aemetis Carbon Zero products include negative carbon intensity renewable jet and diesel fuel that can immediately “drop in” to be used in airplane, truck and ship fleets.  Aemetis low carbon fuels have substantially reduced carbon intensity compared to standard petroleum fossil-based fuels across their lifecycle.

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and bioproducts company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero renewable jet and diesel fuel integrated biorefinery in California to utilize distillers corn oil from ethanol plants to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard wood and other negative carbon intensity biomass, and pre-extract cellulosic sugars from the waste biomass to be processed into high value cellulosic ethanol at the Keyes plant.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and bioproducts.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts.  Forward-looking statements in this news release include, without limitation, statements relating to our ability to commercialize and scale the licensed patented technology, the ability to obtain sufficiently low Carbon Intensity scores to achieve below zero transportation fuel, the development of the Aemetis Biogas Central Dairy Project, the development of the Aemetis Carbon Zero plants, and the ability to access the funding required to execute on plant construction and operations.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue,” “enable” or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission (the “SEC”), including the Aemetis Annual Report on Form 10-K for the year ended December 31, 2020, and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

 

Aemetis Reports 2020 Fourth Quarter and Year-End Results

CUPERTINO, Calif. – March 11, 2021 – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on below zero carbon intensity products, today announced its financial results for the three and twelve months ended December 31, 2020.

“Despite historic economic disruptions that significantly reduced gasoline and ethanol demand, revenues for ethanol production in 2020 were relatively flat compared to 2019 largely due to our ability to quickly pivot to alternative markets and establish new revenue streams,” said Eric McAfee, Chairman and CEO of Aemetis.  “Ethanol and high grade alcohol revenues in 2020 were $112 million compared to $115 million in 2019, Gross Profit percentage margins improved by approximately 6%, SG&A expenses were reduced, and Earnings per Share was largely unchanged from 2019 to 2020 as higher margin businesses largely offset the adverse impact of the COVID-19 pandemic,” added McAfee.

“Overall, this earnings report was a positive outcome for 2020, a year in which more than 50 ethanol plants were shut down at various times due to gasoline demand decreases and corn price increases, while the Aemetis plant operated continuously throughout the year.  During this same time, we upgraded production equipment to supply high grade alcohol into the sanitizer alcohol market,” McAfee stated.

“We focused on keeping a safe working environment for our employees and on building carbon intensity reduction projects that grew value for shareholders significantly through $17 million of investment in low carbon intensity capital projects during 2020 despite the difficult external conditions.  We completed Phase I of the dairy Renewable Natural Gas project, began installation of important Keyes ethanol plant system upgrades to significantly reduce carbon intensity, and began operations of the Messer CO2 liquification facility that is now generating CO2 revenues and IRS 45Q credits from carbon re-use.”

“We also made major steps toward receiving the Authority to Construct air permit for the Aemetis “Carbon Zero” integrated biorefinery in Riverbank, California.  The Carbon Zero project is designed to further optimize the economics of the Keyes plant by using the 142-acre Riverbank site to build a plant to utilize distillers corn oil from the Keyes ethanol plant along with below-zero carbon intensity Cellulosic Hydrogen from waste orchard wood to produce Renewable Jet and Diesel,” said McAfee.

“We are excited with the progress made during the many challenges we faced in 2020, and thank our employees for their focus, hard work, and ability to transition to new markets.  We look forward to building on this success in 2021 as we complete additional important milestones in dairy RNG, Renewable Jet and Diesel Fuel, India biodiesel government contracts, and Ethanol margin improvements from carbon intensity reduction, and continue to implement the Five Year Plan we announced in early March,” McAfee stated.

Today, Aemetis will host an earnings review call at 11:00 a.m. Pacific time (PT).

Live Participant Dial In (Toll Free): +1-888-506-0062 entry code 823496
Live Participant Dial In (International): +1-973-528-0011 entry code 823496

Webcast URL:  https://www.webcaster4.com/Webcast/Page/2211/40258

For the presentation and details on the call, please visit http://www.aemetis.com/investors/conference-calls/

 

Financial Results for the Three Months Ended December 31, 2020

Revenues were $37.3 million for the fourth quarter of 2020, compared to $52.1 million for the fourth quarter of 2019.  The decrease in revenue was primarily attributable to delays in the India government Oil Marketing Company biodiesel tender process that delayed revenue in our India operations, and temporarily lower ethanol production in North America due to the lack of enforcement of the 15 billion gallon Renewable Fuel Standard ethanol blending mandate by the EPA.

Gross loss for the three months ended December 31, 2020 was $3.4 million, compared to a gross profit of $5.8 million during the same period in 2019. The gross profit change was attributable to the temporary ethanol production volume reduction during Q4 2020 due to the price of ethanol decrease from $1.82 per gallon during the three months ended December 31, 2019 to $1.64 per gallon during the three months ended December 31, 2020 in a market where the cost of delivered corn rose from $5.02 to $5.61 per bushel during the same respective periods.

Selling, general and administrative expenses decreased to $4.3 million during the fourth quarter of 2020, compared to $4.7 million during the fourth quarter of 2019.

Operating loss was $7.7 million for the fourth quarter of 2020, compared to operating income of $1.0 million during the fourth quarter of 2019.

Net loss was $14.6 million for the fourth quarter of 2020, compared to a net loss of $7.7 million for the fourth quarter of 2019.

Cash at the end of the fourth quarter of 2020 was $592 thousand, compared to $656 thousand at the end of the fourth quarter of 2019.

 

Financial Results for the Twelve Months Ended December 31, 2020

Revenues were $166 million for the twelve months ended December 31, 2020, compared to $202 million for the same period in 2019. The decrease in revenue was primarily attributable to decreases in the production and sales price for ethanol in North America caused by the COVID pandemic and oil refinery blending waivers issued by the EPA, and delays in the Oil Marketing Company tender process for the India biodiesel operations.

Gross profit for the twelve months ended December 31, 2020 was $11.0 million, compared to $12.7 million of gross profit during the same period in 2019, despite lower demand for gasoline and ethanol during 2020 due to the COVID-19 pandemic.  Compared to 2019, US domestic ethanol demand declined by 13%, and US ethanol exports declined by 5% in 2020.  For the same period, the delivered price of corn to the Keyes plant increased by 11%. The gross profit decline from ethanol margin reduction was largely offset by sales into the sanitizer alcohol market.

Selling, general and administrative expenses decreased to $16.9 million during the twelve months ended December 31, 2020, compared to $17.4 million during the same period in 2019.

Operating loss increased to $6.1 million for the twelve months ended December 31, 2020, compared to an operating loss of $4.9 million for the same period in 2019.

Net loss was $36.7 million for the twelve months ended December 31, 2020, a 7% improvement compared to a net loss of $39.5 million during the same period in 2019.

 

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace carbon-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero renewable jet and diesel fuel integrated biorefineries in California to utilize distillers corn oil from ethanol plants to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard wood and other negative carbon intensity biomass, and pre-extract cellulosic sugars from the waste biomass to be processed into high value cellulosic ethanol at the Keyes plant.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com.

 

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, expectations regarding development of our waste wood ethanol and biogas businesses in North America.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

 

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Aemetis to Review Fourth Quarter and Year-End Financial Results on March 11, 2021

CUPERTINO, CA – March 9, 2021 – Aemetis, Inc. (NASDAQ: AMTX) announced that the company will host a conference call to review the release of its fourth quarter and year-end 2020 earnings report:

Date:   Thursday, March 11, 2021
Time:   11 am Pacific Standard Time (PST)
Live Participant Dial In (Toll Free): +1-888-506-0062 entry code 823496
Live Participant Dial In (International): +1-973-528-0011 entry code 823496
Webcast URL: https://www.webcaster4.com/Webcast/Page/2211/40258

 

Attendees may submit questions during the Q&A portion of the conference call.

The webcast will be available on the Company’s website (www.aemetis.com) under Investors/Conference Calls, along with the company presentation, recent announcements and  video recordings.

The voice recording will be available through March 18, 2021 by dialing (Toll Free) 877-481-4010 or (International) 919-882-2331 and entering conference ID number 40258.  After March 12th, the webcast will be available on the Company’s website (www.aemetis.com) under Investors/Conference Calls.

 

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace carbon-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas (RNG).  Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed.  Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero renewable jet and diesel plants in California to utilize distillers corn oil from ethanol plants to produce low carbon intensity renewable jet and diesel using cellulosic hydrogen from waste orchard wood and other negative carbon intensity biomass, and pre-extract cellulosic sugars from the waste biomass to be processed into high value cellulosic ethanol at the Keyes plant.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com.