California Governor Newsom Signs AB30 Approving 15% Ethanol Blend that Increases Ethanol Market by more than 600 million Gallons Per Year CUPERTINO, Calif., October 3, 2025 – PRISM MediaWire (Press Release Service – Press Release Distribution) – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and biofuels company, announced today that California Governor Gavin Newsom signed Assembly Bill 30 (AB30), which immediately allows 15% ethanol blending in gasoline and expands the potential California market f ...

CUPERTINO, Calif., Oct. 03, 2025 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and biofuels company, announced today that California Governor Gavin Newsom signed Assembly Bill 30 (AB30), which immediately allows 15% ethanol blending in gasoline and expands the potential California market for ethanol by 50% by increasing from an E10 to E15 blend. According to a UC Berkeley/Naval Academy study, a 15% ethanol blend could decrease gasoline prices at the pump by $2.7 billion per year ...

Core Insights - EverGen Infrastructure Corp. provided updates on its operations in renewable natural gas (RNG) and organic waste processing facilities, highlighting strong production metrics and strategic initiatives aimed at enhancing revenue and profitability [1][2][3] Operations Update - In July 2025, EverGen's Fraser Valley Biogas and GrowTEC facilities produced approximately 16,000 gigajoules (GJs) (~520 GJ/d), while in August 2025, production increased to over 17,000 GJs (~550 GJ/d), indicating stable growth in core RNG assets [2] - The company focused on optimization initiatives at its organic waste processing facilities, including screening finished compost and reducing inventory [2] - The PCR RNG Expansion project achieved a key regulatory milestone with support from Abbotsford City Council, and a legacy organics processing contract with the City of Coquitlam was terminated [2] Strategic Initiatives - EverGen aims to attract higher-value organic feedstock through process improvements and RNG expansion, which are expected to support increased revenue in 2026 and long-term profitability [2][3] - The company is committed to optimizing its RNG and organics processing platform while delivering strong operational performance and driving sustainable growth [3] Company Overview - EverGen Infrastructure Corp. is recognized as Canada's Renewable Natural Gas Infrastructure Platform, focusing on combating climate change and contributing to a sustainable future [3] - The company is an established independent renewable energy producer, acquiring, developing, building, owning, and operating a portfolio of RNG and waste-to-energy projects, with growth expected across North America [3]

Group 1: Space Technology - Voyager Technologies has launched Space Edge, the first known multicloud region in space, enabling real-time in-orbit data processing up to 30 times faster than traditional satellite-to-ground methods [1] - Redwire will serve as the prime contractor for the European Space Agency's SKIMSAT mission, which involves a small satellite designed for very low Earth orbit using an electric propulsion system [2] - The SKIMSAT mission aims to demonstrate sustainable low-altitude operations, enhancing performance while reducing satellite mass and mission costs [2] Group 2: Renewable Energy - Clean Energy Fuels has begun construction on three renewable natural gas facilities across six farms in South Dakota, Georgia, Florida, and New Mexico, targeting an annual production of about 3 million gallons of RNG [3] - The projects will capture methane from 24,000 cows, supplying negative carbon fuel for trucking, transit, and vocational fleets through Clean Energy's 600 station network [3] - Eco-wave Power Global has introduced autonomous drones for cleaning and inspecting its wave energy floaters, which are expected to reduce operating costs, downtime, and increase energy output [4]

Core Viewpoint - Cielo Waste Solutions Corp. has launched Project Nexus, a flagship clean fuels initiative aimed at transforming waste into renewable fuels, which will serve as the foundation for a scalable clean energy model known as the NEXUS Platform [1][2][5]. Group 1: Project Overview - Project Nexus is designed to convert challenging waste streams, such as creosote-treated railway ties, woody biomass, and agricultural residues, into renewable fuels like natural gas and hydrogen [2]. - The initiative aims to establish a replicable framework for waste-to-fuel facilities across various jurisdictions, enhancing the company's ability to expand its operations [2][3]. Group 2: Strategic Vision - The long-term vision for the NEXUS Platform is to enable Cielo to expand its operations across Canada and into global markets, allowing for flexibility and scalability tailored to local feedstocks and market conditions [3]. - The project is seen as a cornerstone of Cielo's growth strategy, positioning the company at the forefront of Canada's clean energy transition and paving the way for global waste-to-fuel innovation [5]. Group 3: Funding and Support - Cielo has submitted a $5 million grant application under the Canadian Clean Fuels Fund and is pursuing additional funding from various programs, which could significantly reduce capital requirements and enhance project economics [6]. - The recent announcement of a $370 million Biofuels Production Incentive by the Government of Canada is viewed positively, reflecting a commitment to advancing clean energy and fuels, which may benefit the broader operating environment for renewable fuel producers [7][8]. Group 4: Trading Information - Cielo's common shares have commenced trading on the OTCQB Venture Market under the symbol "CWSFF," in addition to trading on the TSX Venture Exchange under the symbol "CMC" [9].

Financial Data and Key Metrics Changes - Revenues for Q2 2025 were $52.2 million, an increase of $9.3 million from Q1 2025, primarily due to biodiesel orders in India [4] - Operating loss improved by $4.9 million compared to Q2 2024, reflecting reduced selling, general and administrative expenses [5] - Net loss was $23.4 million, roughly flat compared to Q2 2024 after adjusting for nonrecurring charges [5] - Cash at year-end was $1.6 million following $3.6 million of investment in carbon intensity reduction and dairy renewable natural gas production expansion [6] Business Line Data and Key Metrics Changes - California Dairy Renewable Natural Gas recognized $3.1 million in revenue from 11 operating digesters during Q2 2025 [5] - Ethanol production in California decreased to 13.8 million gallons to maximize margins, but production was recently increased to meet market demand [11] - Biodiesel deliveries to Indian government oil marketing companies resumed in April, generating $11.9 million in revenue during Q2 2025 [12] Market Data and Key Metrics Changes - LCFS credit prices increased from about $42 to approximately $60 in the past month, with a current cap of $268 for 2025 [10] - The California Air Resources Board (CARB) approved seven dairy pathways with a blended negative carbon intensity score, unlocking 120% more LCFS credit revenue [8] - The U.S. ethanol market could expand by over 5 billion gallons per year if E15 gasoline is approved in all states, significantly impacting demand [19] Company Strategy and Development Direction - The company is focused on scaling up renewable natural gas production, targeting a capacity of 550,000 MMBtu this year and 1,000,000 MMBtu by 2026 [7] - Aemetis is actively pursuing an IPO for its India subsidiary in early 2026, with plans to expand into ethanol production supported by government policies [12] - The company is working on refinancing efforts to improve its capital structure and reduce debt [6][54] Management's Comments on Operating Environment and Future Outlook - Management expects multiple revenue streams from India, LCFS credits, and federal tax incentives to ramp up as the year progresses, positioning the company for a stronger 2025 [6] - The company anticipates that the amendments to the LCFS program will lead to increased credit prices and a tightening supply, benefiting its operations [15] - Management expressed optimism about the growth of the biofuels and biogas industries due to supportive federal and state policies [14][20] Other Important Information - The company has received $20 million in grants and tax credits to fund a mechanical vapor recompression system expected to add $32 million in annual cash flow starting in 2026 [11] - Aemetis has sold $83 million in investment tax credits related to its RNG facilities, receiving approximately $70 million in cash [9] Q&A Session Summary Question: Impact of CARB approval on EBITDA - Management confirmed that seven dairies are approved, with four more pending, and the financial impact is correlated with LCFS credit prices [23][25] Question: D3 RINs demand outlook - Management noted that there is a universal opinion that D3 RINs are being understated and emphasized the importance of the renewable fuel standard [27][28] Question: Update on 45Z tax credits - Management indicated that updates to the GREET model could allow for the generation of 45Z credits soon, with expectations for significant revenue from these credits [34][36] Question: Monetization strategy for production tax credits - Management expects 45Z credits to become a recurring quarterly revenue item, with catch-up revenue anticipated in Q3 2025 [48] Question: Progress on India IPO - Management confirmed that the new CFO is on board and the process is underway, with public filing documents expected this fall [50][51] Question: Refinancing process status - Management stated they are deep into the refinancing process, with expectations to complete due diligence and documentation by August [64][66]

Core Insights - Montauk Renewables reported Q2 2025 financial results with revenue of $45.1 million, exceeding analyst expectations, but faced profitability challenges with an EPS of $(0.04) due to higher operating expenses and lower RIN prices [1][5][7] Financial Performance - Revenue (GAAP) increased by 4.1% year-over-year from $43.3 million in Q2 2024 to $45.1 million in Q2 2025, surpassing the estimate of $44.4 million [2][5] - Adjusted EBITDA declined by 27.7% to $5.0 million from $7.0 million in Q2 2024 [7] - The company sold 11.1 million RINs, an increase of 10.5% from 10.0 million in Q2 2024, but the average realized price per RIN fell by 22.4% to $2.42 from $3.12 in Q2 2024 [5][6] Operational Highlights - RNG production remained stable at 1.4 million MMBtu, showing no growth compared to the previous year [6] - Operating and maintenance costs for RNG facilities rose by 22.0% to $17.0 million, attributed to scheduled maintenance and operational improvements [6] - Total operating expenses increased by 11.8%, leading to an operating loss of $(2.4) million and a net loss of $(5.5) million compared to $(0.7) million in Q2 2024 [7] Regulatory and Market Challenges - Revenue recognition delays occurred due to the EPA's new Biogas Regulatory Reform Rule, affecting the sale of approximately 3.0 million RINs [8] - The Renewable Electricity Generation segment produced 42,000 megawatt hours, down from 45,000 in Q2 2024, with operating costs nearly flat year-over-year [8] Strategic Developments - Montauk completed construction of a second RNG processing facility at its Apex site, enhancing future capacity [9] - A 10-year power purchase agreement was signed for the North Carolina agricultural RNG project, securing an average price of $48 per megawatt hour [9] - A new joint venture, GreenWave Energy Partners, LLC, was established to facilitate future RNG transportation and utilization [9] Future Guidance - The company reaffirmed its full-year 2025 guidance, expecting RNG revenue between $150 million and $170 million and RNG production between 5.8 million and 6.0 million MMBtu [10]

Financial Data and Key Metrics Changes - The company reported adjusted net income of $2.28 per share for the first six months of 2025, compared to $1.6 per share for the same period last year [7] - Adjusted net income for Q2 2025 was $315,000 or $0.01 per share, an improvement from a loss of $2.8 million or $0.07 per share in Q2 2024 [17] - Year-to-date adjusted net income was $92.1 million or $2.28 per share for 2025, up from $61 million or $1.6 per share for the same period in 2024 [21] Business Line Data and Key Metrics Changes - The Northwest Natural Gas segment saw net income increase by $4.5 million or $0.12 per share, with margin increasing by $16.9 million due to new rates in Oregon [18] - Sea Energy provided net income of $1 million or $0.03 per share, with strong margin and net income trends aligning with expectations [18] - The Water segment's net income increased by $1.8 million or $0.04 per share, driven by new rates at the largest water utility in Arizona and additional revenues from acquired utilities [19] Market Data and Key Metrics Changes - The combined utility customer growth rate was 10.6% for the twelve months ended June 30, 2025, primarily driven by gas utilities in Texas [8] - Northwest Natural Water's customer base grew by 5.8% over the last twelve months, including three acquisitions [13] Company Strategy and Development Direction - The company reaffirmed its annual 2025 adjusted earnings guidance, expecting a range of $2.75 to $2.95 per share [22] - The capital expenditure plan for 2025 is projected to be between $450 million and $500 million, focusing on modernizing infrastructure and system upgrades [23] - The company aims for a long-term earnings per share growth rate of 4% to 6% compounded annually from 2025 adjusted EPS [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving financial targets for the full year, citing strong performance across all business segments [24] - The company noted that while there are signs of housing market slowdown in Texas, overall growth remains strong with significant meter additions [29] Other Important Information - The company filed a general rate case in Oregon to recover investments in gas infrastructure, expecting a modest 2.5% rate increase effective October 31 [11] - The liquidity position at June 30, 2025, was approximately $550 million, with no material debt maturities expected in 2025 [24] Q&A Session Summary Question: Update on Sea Energy's growth and backlog - Management indicated that Sea Energy is performing as expected, with strong growth and a significant backlog exceeding annual goals by midyear [28][29] Question: Scale of upcoming water rate cases - Management noted that individual water rate cases are generally small, often less than $1 million in revenue requirement, leading to multiple rate cases executed annually [30]

Core Viewpoint - Aemetis, Inc. will host a conference call on August 7, 2025, to review its second quarter 2025 financial results [3] Group 1: Conference Call Details - The conference call is scheduled for Thursday, August 7, 2025, at 11 am Pacific Time (PT) [3] - Participants can join the call using a toll-free number or an international dial-in option, with an entry code provided [3] - A webcast of the call will be available on the company's website, along with a presentation and recent announcements [4] Group 2: Company Overview - Aemetis is headquartered in Cupertino, California, and focuses on renewable natural gas and renewable fuel technologies [5] - The company operates a biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas [5] - Aemetis owns a 65 million gallon per year ethanol production facility in California and an 80 million gallon per year biodiesel production facility in India [5] - The company is also developing sustainable aviation fuel and renewable diesel fuel biorefineries, along with renewable hydrogen and hydroelectric power projects [5]

Core Insights - Aemetis, Inc. announced the appointment of Anjaneyulu Ganji as Chief Financial Officer of its India subsidiary, Universal Biofuels, effective July 17, 2025 [1][2] Company Overview - Aemetis is a renewable natural gas and biofuels company focused on innovative technologies that lower fuel costs and reduce emissions [5] - The company operates a biogas digester network and pipeline system in California, converting dairy waste gas into Renewable Natural Gas [5] - Aemetis owns and operates an 80 million gallon per year biodiesel production facility in India and a 65 million gallon per year ethanol production facility in California [5] Leadership and Strategy - Anjaneyulu Ganji has extensive experience in finance, having previously served as Group CFO for Dodla Dairy Limited, which has an annual revenue of $450 million [2][3] - Ganji's background includes leadership roles in Marengo Asia Healthcare and Maersk Line, managing significant financial operations [3] - The leadership team at Aemetis is recognized for its ability to manage opportunities in India and has built a strong reputation in biofuel product delivery and quality [2] Market Context - The growing Indian economy is driving increased demand for energy sources such as biodiesel, ethanol, and compressed natural gas [2] - Universal Biofuels is expanding its production capabilities and diversifying into ethanol and renewable natural gas production [4]