Aemetis year over year revenues increase 28% by $46M

In California, Aemetis, a renewable natural gas and renewable fuels company focused on below zero carbon intensity products, announced that revenues for 2021 increased 28% compared to 2020 due to increased demand for low carbon transportation fuels and as the economy continued to rebound from COVID-19 disruptions.

Todd Waltz, Chief Financial Officer of Aemetis said, “Revenues during 2021 increased to $212 million compared to $166 million during 2020. Capital expenditures for carbon intensity reduction projects were $30.9 million for 2021 as our engineering and construction teams moved forward with the initiatives outlined in our Five-Year Plan,” added Waltz.

“We are pleased with the milestones accomplished during 2021 and early 2022, including the acquisition of the 125-acre Riverbank Industrial Complex for our sustainable aviation fuel and renewable diesel plant, as well as signing $2.5 billion of off-take agreements with major airlines and $3.2 billion with a leading travel stop chain,” said Eric McAfee, Chairman and CEO of Aemetis.  “The Aemetis Biogas RNG project progressed with construction on the next phase of 15 dairy digesters, completing construction of a substantial portion of our 32-mile biogas pipeline extension, building the biogas conditioning hub and completing the utility gas pipeline interconnection unit.  We also received a drilling study from Baker Hughes confirming the feasibility of injecting more than two million metric tons per year of CO2 for sequestration in the unique formations under our two biofuels plant sites in California.  Importantly, we recently closed two credit facilities with an aggregate availability of up to $100 million to fund the completion of all of the carbon reduction projects at the Keyes ethanol plant and provide all of the funding prior to project financing for the jet/diesel plant and the two carbon sequestration wells. We invite investors to review the updated Aemetis Corporate Presentation and the Aemetis Investor Presentation on the Aemetis home page prior to the earnings call.”