Aemetis to Present to Institutional Investors at UBS, JP Morgan and Stifel Conferences to Review Recent Federal Approval of $200 Million of EB-5 Funding for SAF, Biogas, and CCS Projects
23 Avril 2024 - 2:00PM
via NewMediaWire -- Aemetis, Inc. (NASDAQ: AMTX), a
renewable natural gas and renewable fuels company focused on low
and negative carbon intensity products, today announced that senior
executives of the company will present to institutional investors
at conferences hosted by UBS, JP Morgan and Stifel. The
presentation will include a review of the recent federal U.S.
Citizenship and Immigration Services (USCIS) approval of $200
million of EB-5 funding for Aemetis sustainable aviation fuel,
dairy renewable natural gas, and carbon sequestration projects.
Aemetis Chair/CEO Eric McAfee will present and
hold one-on-one meetings with institutional investors at the Stifel
Cross Sector Insight Conference in Boston on June 5, the UBS
Decarbonization Conference in New York on June 6, and the JP Morgan
Energy, Power & Renewables Conference in New York on June
17-18.
“The recent approval from the federal government
allows $200 million of EB-5 low interest rate funding to build our
sustainable aviation fuel, dairy renewable natural gas, and carbon
sequestration projects,” stated Eric McAfee, Chairman and
Chief Executive Officer of Aemetis, Inc. “In addition, in Q4 of
last year we sold $63 million of federal Inflation Reduction Act
(IRA) tax credits for $55 million. We expect about $450 million of
expected future tax credit sales will support funding for our low
carbon intensity biofuels projects, which is expected to
significantly increase operating cash flow.”
The Riverbank sustainable aviation fuel plant
recently received Authority to Construct air permits and is
designed to produce 78 million gallons per year when allocating
100% of production to SAF for the aviation market. An aggregate of
$3.8 billion of offtake agreements have been signed with ten
airlines for SAF supply.
The Aemetis Biogas business now generates positive
cash flow from operations, has built 36 miles of biogas pipeline,
and is building dairy digesters toward a goal of 75 operating
digesters within the next sixty months.
The Aemetis carbon sequestration project at the
Riverbank site received a permit to drill a
geologic characterization well to obtain samples of the
subterranean formations in support of the EPA Class VI
CO2 sequestration well permitting process.
With the expansion of these businesses, Aemetis
plans growth to more than $1.9 billion of revenues and $645 million
of EBITDA in the fifth year of the current Aemetis Five Year
Plan.
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 that
converts 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 a 60
million gallon per year production facility on the East Coast of
India producing high quality distilled biodiesel and refined
glycerin for customers in India and Europe. Aemetis is developing a
sustainable aviation fuel (SAF) and renewable diesel fuel
biorefinery in California 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 www.aemetis.com.
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 2024 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; and our ability to promote, develop 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
RelationsContact:Kirin SmithPCG Advisory
Group(646) 863-6519ksmith@pcgadvisory.com
Company Investor
Relations/Media Contact:Todd Waltz(408)
213-0940investors@aemetis.com
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