Aemetis swings to loss for 2015; increases biodiesel production in India
In California, Aemetis announced revenues of $147 million in 2015, down from $208 million in 2014. The company also announced adjusted EBITDA of $(3) million in 2015, down from $30 million in 2014, and $22 million of EB-5 funding released to the company from escrow during 2015.
“In 2015, our financial and operational performance was affected by excess supply in ethanol markets,” said Eric McAfee, Chairman and Chief Executive Officer of Aemetis. “During this past year, Aemetis significantly increased production at our biodiesel and glycerin biorefinery in India, to take advantage of deregulation and the removal of subsidies in the diesel market. The biodiesel domestic market in India continues to grow, with our expanding sales of B100 as a transportation fuel to replace diesel. In 2016, we plan to increase the profitability of our ethanol business by the adoption of patented technologies for the production of cellulosic ethanol and related products at the Keyes plant,” added McAfee.
Category: Fuels
