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Aemetis, Inc. (AMTX) reports developments as a diversified renewable natural gas and biofuels company with California Ethanol, California Dairy Renewable Natural Gas, and India Biodiesel operations.
Recurring updates cover earnings, Dairy RNG production from dairy waste gas, LCFS and federal clean fuel tax credits, biodiesel deliveries by Universal Biofuels in India, and efficiency projects at the Keyes ethanol plant. Company news also references its California biogas digester and pipeline network, animal-feed co-products from ethanol production, and development work tied to sustainable aviation fuel and carbon sequestration.
Aemetis, Inc. (NASDAQ: AMTX) has completed the construction of its first two dairy digesters and a four-mile pipeline for producing Renewable Natural Gas (RNG). This project aims to supply below-zero carbon intensity RNG, replacing petroleum-based natural gas at its Keyes ethanol facility and fueling RNG trucks and buses. The company is also advancing its Central Dairy Digester Project with plans for additional dairy partnerships and pipeline installations. These initiatives are expected to enhance revenue and reduce carbon intensity while supporting the conversion of methane from dairy waste into sustainable energy.
Aemetis announced on August 18, 2020, that it has regained compliance with NASDAQ Listing Rules. The company received confirmation from NASDAQ that it has maintained a minimum market value of publicly held shares of $15 million and a closing bid price of at least $1.00 per share for 10 consecutive trading days. This compliance determination resolves prior concerns regarding its listing status. Aemetis specializes in advanced renewable fuels and biochemicals, operating facilities in California and India, and is engaged in innovative projects aimed at producing sustainable energy alternatives.
Aemetis, Inc. (NASDAQ:AMTX) reported second-quarter 2020 earnings of $0.10 per share and net income of $2.2 million, significantly improving from a net loss of $13.9 million in Q2 2019. Revenues reached $47.8 million, driven by high-grade alcohol sales for hand sanitizers, despite a decline from $50.6 million in the previous year. Gross profit rose to $14.1 million from $3.3 million YoY. Adjusted EBITDA increased to $11.2 million. Aemetis is expanding its production to include USP-grade alcohol by Q1 2021, anticipating continued market growth.
Aemetis, Inc. (NASDAQ:AMTX) reported a net income of $2.2 million and earnings of $0.10 per share for Q2 2020, driven by a surge in high-grade alcohol sales for hand sanitizer due to COVID-19. Revenues for the quarter were $47.8 million, slightly down from $50.6 million in Q2 2019. Gross profit increased significantly to $14.1 million from $3.3 million year-over-year. Aemetis plans to produce USP grade alcohol by Q1 2021 and is expanding its marketing channels for sanitizer products.
Aemetis launched its new subsidiary, Aemetis Health Products, focused on producing and marketing blended liquid and gel hand sanitizers as both bulk and packaged products. The company has become the largest producer of high-grade sanitizer alcohol in the western U.S. due to increased demand during the COVID-19 pandemic. Aemetis is also upgrading its plant to manufacture USP medical grade alcohol in Keyes, California. This initiative reflects the company's strategic expansion into sanitizer markets while enhancing its existing product offerings.
Aemetis, Inc. (NASDAQ: AMTX) will hold a conference call on May 14, 2020, at 11 am PST to discuss its Q1 2020 earnings report. Participants can join via toll-free numbers or an international line. The call will include a Q&A segment, allowing attendees to submit questions. A recording of the call will be available until May 21, 2020, through designated phone lines. Aemetis focuses on renewable fuels and biochemicals, operating an ethanol production facility in California and a biodiesel plant in India, while developing projects for Renewable Natural Gas.
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