Aemetis reports 20% increase in revenue for Q2

By Aemetis Inc. | August 04, 2022
Aemetis Inc. released Q2 financial results on Aug. 3, reporting renenues of $65.9 million, up 20 percent when compared to the second quarter of 2021. The company also dicussed its biogas, advanced biofuel and CCS projects.

Aemetis Inc., an international renewable natural gas and renewable fuels company focused on negative carbon intensity products, today announced its financial results for the three and six months ended June 30, 2022.

“Revenues for the second quarter of 2022 increased 20 percent to $65.9 million, compared to $54.9 million during the second quarter of 2021 as expanded demand for liquid transportation fuels raised our average ethanol price to $3.13 per gallon,” said Todd Waltz, chief financial officer of Aemetis. “Investments in capital projects that reduce carbon intensity were $12.1 million for the second quarter of 2022, and $23.5 million year to date, 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 the first half of 2022, including the launch of operational management of the 125-acre Riverbank Industrial Complex for our sustainable aviation fuel and renewable diesel plant, the purchase of 24 acres for the carbon capture and sequestration injection well at the Riverbank site, and signing $3.5 billion in off-take agreements for sustainable aviation fuel with major airlines and $3.2 billion in off-take contracts for renewable diesel with a leading travel stop chain,” said Eric McAfee, chairman and CEO of Aemetis.  “The Aemetis Biogas RNG project progressed with construction in progress on five dairy digesters, completing construction of 20 miles of our 40-mile biogas pipeline, completing the biogas-to-RNG production facility and commissioning of the utility gas pipeline interconnection unit.   Importantly, we closed two low-interest rate credit facilities for a total of up to $100 million of new financing to fund the pre-project financing of the carbon reduction projects at the Keyes ethanol plant and to fund the pre-project financing of land, engineering, permitting, test wells and related equipment for the jet/diesel plant and the two CO2 sequestration wells.

These milestones reflect our execution of the projects under our Five-Year Plan that produce negative carbon intensity products and rapidly grow value for Aemetis shareholders.  We invite investors to review the Aemetis Corporate Presentation on the Aemetis home page prior to the earnings call.”

Today, Aemetis will host an earnings review call at 11:00 a.m. Pacific time (PT).

Live Participant Dial In (Toll Free): +1-877-545-0523 entry code 571805
Live Participant Dial In (International): +1-973-528-0016 entry code 571805

Webcast URL:  https://www.webcaster4.com/Webcast/Page/2211/46277

For details on the call, please visit http://www.aemetis.com/investors/conference-calls/