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CUPERTINO, Calif. - Aemetis, Inc. (NASDAQ:AMTX), a renewable fuels company with a market capitalization of $133 million according to InvestingPro data, announced that the California Air Resources Board (CARB) has approved provisional pathways under the Low Carbon Fuel Standard (LCFS) for seven dairy digesters operated by its subsidiary Aemetis Biogas.
The approvals, effective January 1, 2025, feature an average carbon intensity of -384, with individual ratings ranging from -327 to -419. According to the company, these approvals will approximately double the number of LCFS credits generated by these digesters. This development comes as InvestingPro data shows the company has been experiencing significant return momentum, with a notable 10.6% gain in the past week alone.
"With eleven operating digesters and a four-dairy cluster digester currently being completed, we have additional pathway filings in process," said Eric McAfee, Chairman and CEO of Aemetis.
The January 1 effective date allows Aemetis to immediately claim increased LCFS credits for renewable natural gas produced in the first quarter of 2025, ahead of the June 30 reporting deadline.
Aemetis, founded in 2006 and headquartered in Cupertino, operates a California biogas digester network that converts dairy waste into Renewable Natural Gas. The company also runs a 65 million gallon per year ethanol facility in California’s Central Valley and an 80 million gallon per year biodiesel production facility in India. Financial data from InvestingPro reveals the company generated revenues of $238 million in the last twelve months, though it carries a substantial debt burden of $468 million. InvestingPro subscribers have access to 12 additional key insights about Aemetis’s financial health and growth prospects through the platform’s comprehensive Pro Research Report.
The company’s development projects include new dairy digesters expected to generate over 1 million MMBtu of renewable natural gas annually, a mechanical vapor recompression system at its Keyes ethanol plant, a carbon sequestration project, and a sustainable aviation fuel and renewable diesel plant.
This information is based on a press release statement from Aemetis.
In other recent news, Aemetis reported its first-quarter 2025 earnings, revealing a revenue of $42.9 million, which missed analyst expectations of $56.89 million. The company also reported an earnings per share of -$0.47, falling short of the forecasted -$0.40. The revenue shortfall was primarily due to delays in biodiesel contracts in India. In a strategic move, Aemetis has entered into a $27 million agreement with Centuri Holdings to expand its biogas system, aiming to enhance renewable natural gas production. Additionally, Aemetis announced the re-election of Eric A. McAfee and Francis P. Barton to its Board of Directors during its recent annual meeting. The company’s stock received a boost from Ascendiant Capital, which raised its price target to $20, maintaining a Buy rating. Ascendiant Capital’s analysts cited the attractive valuation of Aemetis, balancing high risks with growth prospects.
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