Aemetis shares jump 52% in one day
In California, investors were pleasantly shocked when shares in Aemetis traded up 52% last Thursday. What exactly is happening? In a release, Aemetis credited five factors for the jump:
January 1, 2016: California LCFS re-adopted as of January 1, 2016 through 2020
December 2015: $1 per gallon biodiesel tax credit and $1.01 per gallon advanced ethanol tax credit extended by US
December 2015: India feedstock import tax of 20% eliminated
November 2015: EPA Renewable Fuel Standard re-adopted in November 2015 after a two year delay in enforcement
October 2015: India feedstock tax of 12.5% eliminated
The company owns a 50 mgy distilled biodiesel and refined glycerin plant on East Coast of India and a 60 mgy ethanol plant in Keyes, California. The company said that it expected “more than $100 million of annual grants to biofuels producers starting in 2016 to support the continued decrease in carbon intensity of biofuels by California producers. As Aemetis moves from corn to milo to milo/biogas to waste wood biomass, Aemetis ethanol carbon intensity will reduce from 80 CI to 25 CI or less.”
Category: Fuels
