Core Insights - Aemetis, Inc. is actively collaborating with the U.S. government to enhance its operations in India, particularly through its subsidiary Universal Biofuels, which operates an 80 million gallon per year biodiesel production facility in Kakinada, Andhra Pradesh [2][3][4] Company Overview - Aemetis is a diversified global renewable natural gas and biofuels company, headquartered in Cupertino, California, focusing on innovative technologies for energy independence and security [7][8] - Universal Biofuels has been operational for over 17 years and is one of the largest biodiesel producers in India, recently increasing its production capacity from 60 million gallons to 80 million gallons [5][6] Industry Context - India aims to increase the biodiesel blend from 1% to 5% as part of its National Policy on Biofuels, which aligns with Aemetis' expansion plans [3][4] - The Indian government is committed to enhancing biofuels production to improve air quality and market agricultural products, addressing significant public health issues caused by diesel engine emissions [4][3] Financial and Operational Highlights - Universal Biofuels completed $112 million in biodiesel and glycerin shipments in the twelve months ending September 2024, with ongoing contracts with government-owned oil marketing companies [6] - The company is preparing for an IPO in India, targeting completion in late 2025 or early 2026, contingent on favorable market conditions [5]

CUPERTINO, Calif., April 21, 2025 (GLOBE NEWSWIRE) -- Aemetis, Inc.(NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company's subsidiary in India, Universal Biofuels, received multiple orders for an aggregate of $31 million for the delivery during May, June and July of more than 33,000 kiloliters of biodiesel to the three government-owned Oil Marketing Companies (OMCs). Safe Harbor Statement Additional OMC orders are expected throughout the year in order to cont ...

Company Overview - REX American Resources Corporation (REX) is positioned as an intriguing investment choice within the Biofuels sector due to solid earnings estimate revisions and a favorable Zacks Industry Rank [1][5] - The company has experienced a positive shift in earnings estimates, indicating a more bullish outlook from analysts regarding its short and long-term prospects [3][4] Industry Analysis - The Biofuels industry currently holds a Zacks Industry Rank of 10 out of over 250 industries, suggesting a strong position relative to other sectors [2] - The overall positive trends in the Biofuels segment are likely benefiting multiple securities within the industry, indicating a rising tide effect [2] Earnings Estimates - Over the past month, REX's current quarter earnings estimates have increased from $0.26 per share to $0.34 per share, while current year estimates have risen from $1.34 per share to $1.55 per share [4] - These revisions have contributed to REX earning a Zacks Rank 1 (Strong Buy), highlighting the company's robust position in the market [4]

Financial Data and Key Metrics Changes - The company ended Q4 2024 with $259 million in cash, cash equivalents, and restricted cash [54] - Combined operating revenue and other net income for Q4 was $8.9 million, with a full year total of $32.7 million [54] - The company reported a loss from operations of $19.6 million in the last quarter, with a non-GAAP adjusted EBITDA loss of $11.3 million [55] Business Line Data and Key Metrics Changes - The RNG subsidiary generated $15.8 million in revenue during the year [54] - Gevo North Dakota is producing approximately 67 million gallons of low carbon ethanol annually, including 2 million gallons of ultra-low carbon intensity corn fiber ethanol [58] - The carbon intensity score for the North Dakota plant is about 21 grams of CO2 per megajoule, making it one of the lowest in the industry [59] Market Data and Key Metrics Changes - The company expects to secure a final LCFS carbon intensity score from CARB in Q1 2025, which will unlock more value and better margins for the RNG project [54] - The ATJ60 project in South Dakota has received a conditional commitment for a loan guarantee totaling $1.46 billion, with a total borrowing capacity of $1.63 billion including capitalized interest [12] Company Strategy and Development Direction - The acquisition of Gevo North Dakota is seen as a game changer, allowing the company to monetize carbon abatement and tax credits immediately [10] - The company is focusing on modularization to replicate its ATJ plants, aiming to convert existing ethanol plants into ATJ facilities [36] - Gevo is pursuing partnerships to develop and commercialize its ethanol to jet fuel technology, leveraging its intellectual property and existing relationships [49] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving positive adjusted EBITDA in 2025, driven by the acquisition of Gevo North Dakota and expected tax credits [55] - The company is closely monitoring the Summit pipeline issue, which could impact project economics [15] - Management highlighted the importance of aligning interests with farmers supplying the ethanol plant, emphasizing regenerative agricultural practices [60] Other Important Information - The company is targeting financial close for its project-level capital raise by the end of 2025, which includes the DOE loan and project-level equity capital raising [21] - The ATJ60 project is expected to create significant regional economic development, generating over $100 million annually once operational [32] Q&A Session Summary Question: What are the equity investor options for the SPV side of the Net Zero One opportunity? - Management indicated a range of potential investors from strategic to specialty funds and classic financial funds [68] Question: Does some of this need to be arranged to close the DOE loan? - Yes, commitments are a prerequisite to reach financial close [69] Question: What are the options to monetize carbon capture expansion at North Dakota? - Options include bundling CCS value with renewable fuel or participating in the carbon dioxide removal credits market [75] Question: How are recent tariff announcements impacting potential costs for the ATJ60 project? - Management stated that recent tariffs are not impacting project costs significantly [82] Question: Can you provide thoughts on leveraging the La Verne facility in the future? - Management mentioned they have ideas for the facility but cannot disclose details yet [91] Question: What has been holding up the DOE process and what is the timeline? - Delays were attributed to environmental requirements and the transition period, with expectations to complete the process within the year [98][101] Question: Who is helping to bank the $800 million equity raise? - The company is working with Guggenheim and Citi for the equity raise [102]

Financial Data and Key Metrics Changes - Revenues for the year ended December 31, 2024, were $268 million, up from $187 million in 2023, with all three segments reporting increases [7] - Cost of goods sold increased from $184.7 million in 2023 to $268.2 million in 2024, aligning with revenue changes [8] - Net loss was $87.5 million for 2024, compared to a net loss of $46.4 million in 2023 [10] Business Line Data and Key Metrics Changes - California ethanol revenue increased by $57.7 million, India biodiesel revenue increased by $15.7 million, and California renewable natural gas revenue increased by $7.6 million [8] - The dairy renewable natural gas segment accounted for $5.4 million of gross profit, primarily from the sale of environmental attributes [9] Market Data and Key Metrics Changes - The price of California LCFS credits increased from $44 to $75 by February 2025, but a recent delay in implementation caused a 30% decrease in prices [15][16] - The expected increase in LCFS credit prices could reach $200 per ton, significantly benefiting Aemetis' biogas and ethanol businesses [17] Company Strategy and Development Direction - Aemetis aims to benefit from supportive public policies for domestic energy producers, focusing on biogas, ethanol, and biodiesel growth [12] - The company is preparing for an IPO of its India biodiesel business, expected in late 2025 or early 2026, contingent on new OMC orders [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the REAP program and expects approvals for new funding soon [45][46] - The company anticipates that the approval of E15 blends will significantly expand the U.S. ethanol market by up to 50% [22][24] Other Important Information - Capital expenditures for carbon intensity reduction projects were $20.3 million in 2024, with ongoing projects aimed at increasing production capacity [10] - Aemetis has received conditional commitments for $75 million in USDA guaranteed loans for biogas digester construction [31] Q&A Session Summary Question: Confidence levels around refinancing given government spending reductions - Management has high confidence in the REAP program and expects approvals soon [45][46] Question: Insight into the OAL's request for revisions and expected delays - The complexity of the LCFS legislation led to the OAL's request for clarifications, causing a potential 120-day delay [57][58] Question: Status of India biodiesel production and OMC tender process - A new tender is expected to be issued soon, with significant inventory available for initial shipments [64][65] Question: Expected spending plans for 2025 amid regulatory turbulence - Aemetis plans a $75 million capital budget supported by USDA loans and grants, with an acceleration in biogas investments [78][79] Question: Impact of E15 approvals on ethanol margins - E15 adoption is expected to be gradual, with significant margin improvements anticipated by 2027 [84][90] Question: Timing of CARB policy implementation - Management estimates a 2-3 month timeline for CARB policy implementation, with no definitive endpoint [92] Question: Drivers of negative EBITDA results in Q4 - Oversupply and high corn prices were significant factors, but operational adjustments are expected to improve Q1 performance [98][100] Question: Expectations on D3 RVO going forward - The EPA's recent actions suggest a lower D3 RIN mandate for 2024, impacting future investment growth [106][112]

Financial Data and Key Metrics Changes - Revenues for the year ended December 31, 2024, were $268 million, up from $187 million in 2023, with all three segments reporting increases [5][6] - Gross loss for 2024 was $580,000 compared to a gross profit of $2 million in 2023 [6][8] - Net loss for 2024 was $87.5 million, compared to a net loss of $46.4 million in 2023 [8] - Cash at the end of Q4 2024 was $898,000, down from $2.7 million on December 31, 2023 [8] Business Line Data and Key Metrics Changes - California ethanol revenue increased by $57.7 million due to full-year operations [5] - India biodiesel revenue increased by $15.7 million from stronger delivery volumes [6] - California renewable natural gas revenue increased by $7.6 million from increased production and sales of credits [6] Market Data and Key Metrics Changes - The price of California LCFS credits increased from $44 to $75 by February 2025, but a recent delay in implementation caused a 30% decrease in prices [12][13] - The expected increase in LCFS credit prices is projected to reach $200 per ton by 2027 [13] Company Strategy and Development Direction - The company aims to benefit from supportive public policies for domestic energy producers, particularly in biogas, ethanol, and biodiesel [10] - Aemetis plans to expand its biogas production capacity to 1,000,000 MMBtu per year by 2026 [22] - The company is focused on the development of sustainable aviation fuel and renewable diesel, with a planned 90 million gallon per year plant [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the REAP financing program despite government spending pauses [32] - The company anticipates a renewed commitment to biodiesel blending in India, which is expected to support investor interest [21] - Management noted that the approval of E15 blends could significantly increase the U.S. ethanol market by up to 50% [19] Other Important Information - Capital expenditures for carbon intensity reduction projects were $20.3 million in 2024 [9] - The company has received $17 million in cash from investment tax credits in early 2025 [16] Q&A Session Summary Question: Confidence levels around REAP financing - Management expressed high confidence in REAP, expecting approvals soon despite a freeze on other grants and loans [32] Question: Insights on OMC tender process - Management indicated that a new tender was issued, with shipments expected in April [46] Question: Expected spending plans for 2025 - Management outlined a $75 million capital budget supported by USDA loans and grants [56] Question: Impact of E15 approvals on ethanol margins - Management expects a gradual increase in margins as more states adopt E15, with significant growth anticipated by 2027 [60] Question: Drivers of negative EBITDA results in Q4 - Oversupply and high corn prices were cited as key factors, with expectations for improved performance in Q1 [70]