Aemetis ethanol sales revenues up 8% in Q1 2021 compared to last year

In California, during Q1 this year, Aemetis, Inc., a renewable natural gas and renewable fuels company focused on negative carbon intensity products, had revenues increase to $42.8 million, compared to $39.5 million for Q1 2020. Their North America operations in Q1 2021, as compared to Q1 2020, experienced steady sales volume with an increase in the selling price from $1.56 per gallon to $1.91 per gallon, and increase in the delivered corn price from an average of $5.20 per bushel during the first quarter of 2020 to $6.87 per bushel during Q1 2021.

Gross loss for the first quarter of 2021 was $3.6 million, compared to a $0.4 million loss during the first quarter of 2020.  Losses during the first quarter of 2021 resulted from crush margin that was overall weaker than the same period of the previous year.  Within the first quarter of 2021, the crush margin improved as ethanol rose from $1.40 per gallon in January 2021 to more than $2.90 per gallon today.

“We are pleased with the milestones accomplished during the first quarter of 2021, including our Carbon Zero renewable jet/diesel project receiving an exclusive license to use the patented technology that extracts low-cost, low carbon sugar from waste wood for use in biofuels production, significant progress shown by the recent issuance of 19 key permits for construction of the jet/diesel plant, and the awarding of energy efficiency grants that now provide a total of $16.8 million for the ethanol plant upgrades currently in process,” said Eric McAfee, Chairman and CEO.