Aemetis ethanol and high-grade alcohol sales up 11%, biodiesel up 216%

In California, advanced renewable fuels and biochemicals company, Aemetis, reported a strong Q3 2020 with sales of ethanol and biodiesel both up, revenues of $40.9 million, and big milestone of completing the first phase of their dairy digester cluster project.

Some highlights:

• Ethanol and high-grade alcohol gallons sold increased 11% to 15.2 million gallons compared to the second quarter of 2020.
• Biodiesel metric tons sold increased 216% compared to the second quarter of 2020
• Revenues were $40.9 million during the third quarter.
• Net Loss was $12.2 million ($0.59 per share).

“In the third quarter, the Aemetis Biogas team achieved several significant milestones by completing the first phase of our dairy digester cluster project, including the commissioning of a four mile Aemetis-owned pipeline and two dairy digesters that are now producing below zero carbon intensity biogas,” said Eric McAfee, Chairman & CEO of Aemetis, Inc.  “The biogas team is working to rapidly build 16 additional dairy digesters under 25 year contracts, a centralized gas clean up unit, and about 26 more miles of pipeline in the Aemetis dairy digester cluster, which is expected to be fully completed within about 18 months.  In 2021, Aemetis will be able to inject dairy renewable natural gas into the common carrier pipeline and utilize an onsite renewable compressed natural gas fueling station,” McAfee added.

Demand for high grade alcohol for sanitizer production and shipments of bulk alcohol to sanitizer alcohol customers launched strongly in the second quarter of 2020 at the onset of the COVID-19 pandemic, but then softened during the third quarter of 2020 due to inferior product from overseas and customer resulting demand for United States Pharmacopeia grade alcohol.  Responding to this continued market demand for high-quality sanitizer and health products, Aemetis expanded its sustainable advantage as the largest West Coast producer of high grade alcohol for sanitizer and health products by launching Aemetis Health Products.  This new subsidiary extended the business into the production and distribution of branded and private label blended liquid and gel sanitizer and other health safety products.