Latest news with #EricMcAfee
Yahoo
13-05-2025
- Business
- Yahoo
Why Is Aemetis Stock Trading Higher On Tuesday?
Aemetis, Inc. (NASDAQ:AMTX) on Tuesday announced a $27 million equipment agreement with Centuri Holdings, Inc. (NYSE:CTRI), marking a significant step forward in its renewable natural gas (RNG) infrastructure strategy. The agreement, made through Aemetis' subsidiary, Aemetis Biogas, will support the deployment of biogas cleanup systems across 15 dairy digesters in California's Central Valley. These installations are part of a larger initiative to produce RNG from 50 dairies already under contract. Aemetis underscored that its partnership with Centuri extends well beyond this initial equipment deal. According to Chairman and CEO Eric McAfee, Centuri will also provide construction management and pipeline assembly services for future energy efficiency and carbon reduction initiatives. McAfee pointed to Centuri's strong track record in executing large-scale industrial and pipeline infrastructure addition to the digester expansion, Aemetis is moving forward with several significant projects. These include scaling RNG production to exceed 1 million MMBtu annually and implementing a vapor recompression system at its Keyes ethanol facility, which is expected to boost annual cash flow by $32 million starting in 2026. The company is also advancing a carbon sequestration initiative capable of storing 1.4 million tons of CO₂ per year and a 78 million-gallon-per-year sustainable aviation fuel and renewable diesel plant. Further industrial-scale developments are being negotiated at the company's Riverbank site. Price Action: AMTX shares are trading higher by 7.39% to $1.525, and CTRI is up by 8.55% to $21.20 at the last check on Tuesday. Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Why Is Aemetis Stock Trading Higher On Tuesday? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-04-2025
- Automotive
- Yahoo
Aemetis to Benefit From EPA's Approval of 15 Percent Ethanol Blend
Consumers are expected to save up to $0.20 per gallon at the pump CUPERTINO, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced today that the U.S. Environmental Protection Agency (EPA) issued a waiver allowing a 15 percent blend of ethanol (E15) to continue to be sold after May 1st which will benefit the company through increased demand and sales of the renewable fuel nationwide. The average blend of ethanol in the U.S. in 2024 was 10.4% and 14.2 billion gallons. The adoption of E15 allows up to a 50% increase in the market for ethanol in the U.S. 'The EPA's action allowing nationwide E15 sales to continue is a significant step toward increasing the demand for ethanol and has broad support for permanent approval from the President, as well as numerous members of Congress,' stated Eric McAfee, Chairman and CEO of Aemetis. 'Permanent national approval of E15 would allow the demand for ethanol to grow as consumers nationwide benefit from lower-cost, domestic, renewable fuel that lowers the price of gasoline and supports rural communities with good jobs throughout the country.' The EPA has indicated its intent to ensure that E15 remains available throughout the summer driving season. The EPA's action applies throughout the United States, except California. The E15 blend is expected to help American drivers save money at the pump, reduce carbon emissions, strengthen rural economies, and enhance U.S. energy independence, according to the Renewable Fuels Association. California is now the only state in the US that has not approved the E15 blend and typically has the highest average gasoline prices nationwide. To address the situation, Governor Gavin Newsom earlier this year issued a letter to the California Air and Resources Board (CARB) requesting completion of the study required to adopt E15 in California. The adoption of a 15 percent ethanol blend in California is projected to create more than 600 million gallons per year of new biofuels demand and save consumers an estimated twenty cents per gallon, or approximately $2.7 billion at the pump each year, according to a UC Berkeley and US Naval Academy study. Californians would also benefit from reduced greenhouse gas emissions from the increased use of ethanol, and reduced exposure to benzene and other carcinogens in gasoline. Senate Bill 2707, the 'Nationwide Consumer and Fuel Retailer Choice Act,' was recently introduced into the U.S. Congress by 14 senators. This bill proposes the permanent sale of year-round E15 throughout the United States, except in states such as California that have their own fuel regulations. The E15 blend is approved for use in more than 95 percent of vehicles on the road today, according to the EPA. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit Safe Harbor Statement This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market demand and market prices and results of government actions. Words or phrases such as 'anticipates,' 'may,' 'will,' 'should,' 'believes,' 'estimates,' 'expects,' 'intends,' 'plans,' 'predicts,' 'projects,' '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 many 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 government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other 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. Company Investor RelationsMedia Contact:Todd Waltz(408) 213-0940investors@ External Investor RelationsContact:Kirin SmithPCG Advisory Group(646) 863-6519ksmith@ in to access your portfolio
Yahoo
21-04-2025
- Business
- Yahoo
Aemetis India Plant Receives $31 million of Biodiesel Orders from OMCs for Delivery in Next Three Months
CUPERTINO, Calif., April 21, 2025 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company's subsidiary in India, Universal Biofuels, received multiple orders for an aggregate of $31 million for the delivery during May, June and July of more than 33,000 kiloliters of biodiesel to the three government-owned Oil Marketing Companies (OMCs). Additional OMC orders are expected throughout the year in order to continue shipments to fuel blending terminals on an ongoing basis to support the India government goal of increasing from a 1% to 5% biodiesel blend. 'Universal Biofuels and other biodiesel producers look forward to continuous support from the government of India to ensure that climate issues are addressed, while ensuring a healthy biodiesel industry,' stated Sanjeev Duggal, CEO of Universal Biofuels. 'We are pleased with the progress being made in India in support of the 5% biodiesel blending target of more than 1.2 billion gallons per year,' stated Eric McAfee, Chairman and CEO of Aemetis. 'The OMCs did not take deliveries during this past winter and instead decided to issue new orders for biodiesel with deliveries from May to July. Our Universal Biofuels subsidiary has successfully completed deliveries under contracts with the OMCs for the past several years, highlighting our track record for producing and timely delivering high quality renewable fuels at our India plant.' Recently, India achieved a 20% ethanol blend into gasoline and the government stated a new 30% blend target for ethanol, enabling further growth in ethanol production and expanding revenues for farmers while reducing the importation of petroleum gasoline into India. Universal Biofuels significantly expanded the production capacity of the Kakinada biodiesel plant to 80 million gallons per year during a recent plant upgrade and maintenance cycle, including expansion of its proprietary process that produces biodiesel from waste and byproducts that Universal utilizes to produce biofuels that are lower carbon intensity at a significantly reduced cost. Aemetis' Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased annual biodiesel capacity from 50 million gallons to 80 million gallons last year, with further biodiesel expansion to other locations and diversification into biogas production planned for 2025. To support further growth, Universal Biofuels is preparing for an IPO in India which is expected to be completed in late 2025, subject to continued favorable stock market conditions. Universal Biofuels completed $112 million of biodiesel and glycerine shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. Shipments of biodiesel to OMC's are expected to begin in early May under the next round of biodiesel contracts. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. 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 owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel plant and a CO2 sequestration project in California. For additional information about Aemetis, please visit Safe Harbor Statement This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; statements related to the development, engineering, financing, construction and operation of the Aemetis biodiesel and other biofuel facilities; our ability to promote, develop, finance, and construct facilities to produce biodiesel, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. 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 Reports on Form 10-K, and in our other 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. Company Investor RelationsMedia Contact:Todd Waltz(408) 213-0940investors@ External Investor RelationsContact:Kirin SmithPCG Advisory Group(646) 863-6519ksmith@ in to access your portfolio
Associated Press
19-03-2025
- Business
- Associated Press
Aemetis Plans $130 Million Funding Under Newly Expanded Stanislaus County C-PACE Program
NEWMEDIAWIRE) - Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity renewable fuels, announced today that the Stanislaus County Board of Supervisors unanimously approved an extension of the County's Commercial Property Assessed Clean Energy (C-PACE) program at its March 11, 2025, meeting. Established by the approval of local governments, C-PACE programs can be used by private industry to finance energy efficiency upgrades and renewable energy facilities. 'We appreciate the Board and staff of Stanislaus County for their support of the C-PACE program in Stanislaus County that we expect to help Aemetis fund energy efficiency and renewable energy projects and refinance recently completed projects,' stated Eric McAfee, chairman and CEO of Aemetis. 'The C-PACE program provides longer 30 year terms and repayment through property tax bills so provides a new source of capital for growing our business.' Stanislaus County's recent action approves participation in the California Enterprise Development Authority, which allows financing of private projects through state municipal bonds that are free of state taxes to the lenders. In addition, payments through County property tax bills provide lenders enhanced protections and liquidity, helping raise funds for qualifying projects. Aemetis renewable energy and energy efficiency projects expected to be eligible for C-PACE financing include the Keyes plant mechanical vapor recompression system, the expansion of dairy renewable natural gas production, and the planned Riverbank Sustainable Aviation Fuel plant, as well as refinancing of the recently completed Keyes solar generation system and renewable natural gas upgrading hub. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. 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 owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California, renewable hydrogen, and hydroelectric power to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit Safe Harbor Statement This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. 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 Reports on Form 10-K, and in our other 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. External Investor Relations Contact: Media Contact: Todd Waltz (408) 213-0940
Associated Press
26-02-2025
- Business
- Associated Press
Aemetis Biogas Receives Proceeds from Sale of $7.7 Million of Investment Tax Credits
Investment tax credits were generated by renewable natural gas project investments CUPERTINO, CA - February 26, 2025 ( NEWMEDIAWIRE) - Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company, announced today the receipt of $6 million of cash, after transaction costs, from the sale of $7.7 million of Inflation Reduction Act (IRA) investment tax credits generated by the construction of dairy biogas digesters by the Aemetis Biogas subsidiary of the company. The investment tax credits were sold to a corporate purchaser that had previously agreed to purchase the tax credits as a part of a multi-closing purchase arrangement. The IRA was signed into law in August 2022 and provides transferable federal income tax credits for investments in certain renewable fuel projects, as well as production tax credits for low carbon intensity renewable fuels. Aemetis generated IRA Section 48 investment tax credits from its investment in dairy biogas digesters constructed and placed in service by Aemetis in Q4 2024. 'The $6 million of net cash proceeds received by Aemetis yesterday is in addition to $11 million of cash proceeds from tax credits sold last month, funding domestic energy production projects and reducing dependence on imported crude oil,' stated Eric McAfee, Chairman and CEO of Aemetis. 'The next sales of investment tax credits will be generated by biogas digester and pipeline projects that are currently under construction and expected to be completed in Q2 2025.' The Aemetis Keyes ethanol plant supplies about two million pounds of animal feed daily to feed more than 100,000 dairy cows at about 80 dairies in the local area. To capture methane at dairies and produce renewable natural gas (RNG), Aemetis is operating twelve dairy digesters, 36 miles of biogas pipeline, a central biogas to RNG production facility, and a PG&E utility gas pipeline interconnection. Aemetis expects to produce 550,000 MMBtu of RNG per year from its existing projects combined with those planned for completion in Q2. Approximately 25% of methane emissions in California are emitted by dairy waste lagoons that do not have methane capture systems such as those installed by Aemetis. When fully built, the Aemetis Biogas project plans to capture methane from the waste produced by more than 150,000 cows at dairy farms in California and produce 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. When fully operational, the Aemetis Biogas project in California is designed to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tons of carbon dioxide over ten years. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. 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 owns and operates an 80 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 acquired the 125-acre former Army Ammunition Production Plant site in Riverbank, California to develop a carbon sequestration project and a sustainable aviation fuel (SAF) and renewable diesel fuel biorefinery to utilize renewable hydrogen, hydroelectric power, and renewable oils to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit Safe Harbor Statement This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, biodiesel, SAF and renewable diesel, and carbon sequestration facilities; and our ability to promote, develop, finance, and deploy technologies to produce renewable fuels and biochemicals. 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 Reports on Form 10-K, and in our other 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. External Investor Relations Contact: PCG Advisory Group (646) 863-6519 Company Investor Relations/ Media Contact: Todd Waltz
