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
CUPERTINO, CA, April 23, 2024 (GLOBE NEWSWIRE) -- 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.
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