Aemetis appoints Anjaneyulu Ganji as CFO of India subsidiary

CUPERTINO/HYDERABAD - Aemetis, Inc. (NASDAQ:AMTX), a renewable natural gas and biofuels company with a market capitalization of $152 million and annual revenue of $238 million, announced Thursday the appointment of Anjaneyulu Ganji as Chief Financial Officer of its India subsidiary, Universal Biofuels. According to InvestingPro analysis, the company currently faces financial challenges with significant debt obligations and negative EBITDA of -$37.6 million in the last twelve months.

Ganji, who assumed the role on Thursday, previously served as Group Chief Financial Officer of Dodla Dairy Limited, a $450 million revenue company headquartered in Hyderabad. At Dodla, he managed the company’s 2021 initial public offering, which was reportedly oversubscribed 45 times. His appointment comes at a crucial time as Aemetis faces financial headwinds, with InvestingPro data showing the company’s current ratio at 0.16, indicating potential liquidity challenges.

His prior experience includes positions as Group CFO at Marengo Asia Healthcare, Global Head of Accounting and Controlling at Maersk Line GmbH, and finance controller at TATA Cummins Ltd.

"Having completed initial public offerings and other financings for growth companies in India, I am confident that the growing market in India creates opportunities for production expansion and investments in new markets," Ganji said in the press release.

Universal Biofuels, based in Hyderabad since 2007, operates an 80 million gallon per year facility on India’s East Coast that produces biodiesel and refined glycerin. The subsidiary is currently expanding biofuels production and diversifying into ethanol and renewable natural gas production. For detailed analysis of Aemetis’s expansion strategy and financial outlook, including 12 additional ProTips and comprehensive valuation metrics, visit InvestingPro.

Sanjeev Duggal, Managing Director of Universal Biofuels, noted that India’s growing economy has increased demand for energy, including biodiesel, ethanol, and compressed natural gas.

Aemetis, headquartered in Cupertino, California, also operates a 65 million gallon per year ethanol production facility in California’s Central Valley and is developing additional renewable energy projects.

In other recent news, Aemetis reported its Q1 2025 earnings, revealing revenues of $42.9 million, which fell short of the expected $56.89 million. The company’s earnings per share was -$0.47, missing the forecasted -$0.40. This revenue shortfall was mainly due to delays in biodiesel contracts in India. Aemetis has also announced a $27 million agreement with Centuri Holdings to expand its biogas systems, enhancing renewable natural gas production from dairy waste. The California Air Resources Board approved provisional pathways for seven Aemetis dairy digesters, which will double the number of Low Carbon Fuel Standard credits generated. Ascendiant Capital raised its price target for Aemetis stock to $20, maintaining a Buy rating, citing an attractive valuation and growth potential. Additionally, Aemetis held its Annual Meeting of Stockholders, re-electing Eric A. McAfee and Francis P. Barton to the board and ratifying RSM US LLP as auditors. These developments indicate ongoing strategic investments and expansions in Aemetis’s renewable energy initiatives.

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