Aemetis Reports 43% Revenue Growth and Strategic Expansion in Renewable Energy Sectors
TL;DR
Increase in annual revenues by 43% provides Aemetis competitors with a financial advantage in the renewable energy sector.
Aemetis' revenue growth results from increased biodiesel and ethanol production capacity, demonstrating strategic expansion and operational efficiency.
Aemetis' focus on renewable energy solutions and lower-carbon economy contributes to a more sustainable world for future generations.
Completion of solar and biogas projects in 2024 resulted in cash proceeds from the sale of investment tax credits, showcasing innovative sustainable energy initiatives.
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Aemetis, a renewable natural gas and renewable fuels company, reported a robust financial performance in 2024, with annual revenues rising 43% to $268 million. The company demonstrated strategic growth across multiple business segments, including India biodiesel, California ethanol, and renewable natural gas operations.
Key achievements included a 20% increase in India biodiesel revenues to $93 million, a 55% surge in California ethanol revenues to $162 million, and a remarkable 139% growth in Aemetis Biogas annual revenues. The company expanded its biodiesel production capacity in India from 60 to 80 million gallons per year and increased biogas production capacity by 80%.
Strategic investments in low-carbon technologies highlighted the company's commitment to sustainability. These included completing a $12 million solar microgrid installation at its California ethanol plant, receiving $10.5 million in tax credits for carbon intensity reduction, and advancing sustainable aviation fuel and renewable diesel plant development.
Despite revenue growth, the company reported a net loss of $87.5 million for 2024, compared to $46.4 million in 2023. CEO Eric McAfee emphasized the company's focus on expanding domestic, lower-cost energy that supports rural economies and aligns with emerging federal policy support.
Notable technological and operational milestones included initiating Low Carbon Fuel Standard credit sales, constructing four new dairy digesters, and positioning the company to generate valuable 45Z tax credits. These developments underscore Aemetis' strategic approach to addressing climate change through innovative renewable energy solutions.
Curated from NewMediaWire
