Business
Aemetis, Inc. Reports First Quarter 2020 Financial Results
CUPERTINO, CA / ACCESSWIRE / May 14, 2020 / Aemetis, Inc. (NASDAQ:AMTX), an advanced renewable fuels and biochemicals company, today announced its financial
About this update from Aemetis, Inc
[{"type":"text","content":"CUPERTINO, CA / ACCESSWIRE / May 14, 2020 / Aemetis, Inc. (NASDAQ:AMTX), an advanced renewable fuels and biochemicals company, today announced its financial results for the three months ended March 31, 2020.\"During the first quarter of 2020, Aemetis continued to make steady progress despite significant challenges related to Covid 19 restrictions,\" said Eric McAfee, Chairman and CEO of Aemetis. \"Progress continued on the carbon reduction and revenue expansion projects to drive significant revenue increases and positive earnings. In our dairy renewable natural gas project, we completed and tested the first two dairy digesters and began constructing the four mile pipeline to connect the two dairies to the Keyes ethanol plant; we completed the construction and began commercial operation of the carbon dioxide capture system at our Keyes plant to supply the newly-built Messer CO2 plant under a long term contract; and we made progress toward commencing construction of our below zero carbon content California waste wood ethanol biorefinery. Importantly, all of the EB-5 investors in our current offering were granted National Interest Expedite approval to process their applications at the USCIS in approximately 90 days instead of up to three years which has significantly increased the number of interested investors.\"Today, Aemetis will host an earnings review call at 11:00 a.m. Pacific time (PT).Live Participant Dial In (Toll Free): +1-844-407-9500Live Participant Dial In (International): +1-862-298-0850Webcast URL: https://www.webcaster4.com/Webcast/Page/2211/34586For details on the call, please visit http://www.aemetis.com/investors/conference-calls/Financial Results for the Three Months Ended March 31, 2020Revenues during the first quarter of 2020 were $39.5 million, compared to $41.9 million for the first quarter of 2019. North America volume of ethanol sold during the first quarter was 15.7 million gallons compared to 16.2 million gallons in the first quarter of 2019, at an average price of $1.56 per gallon compared to $1.68 per gallon. India's biodiesel price was $786 per metric ton compared to $839 per metric ton, with tons sold decreasing to 3,554 metric tonnes compared to 5,182 tonnes.Gross loss for the first quarter of 2020 was a $433 thousand loss, compared to a $351 thousand loss during the first quarter of 2019.Selling, g...