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Aemetis Reports First Quarter 2022 Financial Results
Revenue Increased 22% over Q1 2021CUPERTINO, CA / ACCESSWIRE / May 12, 2022 / Aemetis, Inc. (NASDAQ:AMTX), a renewable natural gas and renewable fuels company
About this update from Aemetis, Inc
[{"type":"text","content":"Revenue Increased 22% over Q1 2021CUPERTINO, CA / ACCESSWIRE / May 12, 2022 / Aemetis, Inc. (NASDAQ:AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, today announced its financial results for the three months ended March 31, 2022.\"Revenues for the first quarter of 2022 increased 22% compared to Q1 2021 as expanded demand for liquid transportation fuels raised our average ethanol price to $2.58 per gallon, and total revenues to $52.0 million compared to $42.8 million during the first quarter of 2021,\" said Todd Waltz, Chief Financial Officer of Aemetis. \"Investments in capital projects that reduce carbon intensity were $11.4 million for the first quarter of 2022 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 quarter of 2022, including the launch of operational management of the 125-acre Riverbank Industrial Complex for our sustainable aviation fuel and renewable diesel plant, as well as signing a total of $3.5 billion of off-take agreements for SAF with major airlines and $3.2 billion of 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 continuing construction of five of the next 15 dairy digesters, completing construction of 20 miles of our 36-mile biogas pipeline completing, testing of the biogas conditioning hub and completing the utility gas pipeline interconnection unit. Importantly, we recently closed two credit facilities, with an aggregate availability of up to $100 million, to both fund the completion of the carbon reduction projects at the Keyes ethanol plant and provide the funding prior to project financing 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 to 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): +1-888-506-0062 entry code 841388L...