Aemetis, Inc · NASDAQ:AMTX
Aemetis — Investor Presentation (October 2020)
22 slides from Aemetis's investor presentation, Oct 29, 2020
Slide 1: Aemetis Inc. (NASDAQ: AMTX) Fall 2020
Aemetis Inc. (NASDAQ: AMTX) Fall 2020
Slide 2: Disclaimer
Disclaimer Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or event
Slide 3: Aemetis At A Glance
Aemetis At A Glance Aemetis produces low carbon products to replace petroleum by the acquisition, development and commercialization of innovative technologies into existing and new biorefineries. Current Operations − California Ethanol Plant at Keyes, California Key Facts • 65 million gallon per y
Slide 4: COVID - Operational Update
Aemetis Inc. (NASDAQ: AMTX) COVID 19 - OPERATIONAL UPDATE: During Q2/Q3 2020, AMTX upgraded its 65 million gallon per year California ethanol plant and 50 million gallon per year India distilled biodiesel/refined glycerin facility to produce high-grade alcohol and refined glycerin for sanitizer alco
Slide 5: Major Transition
Major Transition • AMTX owns and operates major production facilities in the US and India o 65 million gallon per year high grade alcohol, fuel ethanol, distillers' grain and corn oil plant located in Keyes, California near Modesto o 50 million gallon per year capacity, refined glycerin and distille
Slide 6: Unique Position
Unique Position • Major differentiator between AMTX and other ethanol producers o Producers are required to transport alcohol for sanitizer from the Midwest to California using fuel ethanol trailers and rail cars which are often contaminated with benzene and other dangerous chemicals o AMTX arranged
Slide 7: Regulatory Traction
Regulatory Traction • April 2020 Aemetis received the Distilled Spirits Producer (DSP) permit from the TTB o With the DSP permit, Aemetis can sell high grade alcohol into other markets • June 2020 AMTX began to produce Food Chemical Codex (known as FCC) food grade quality alcohol at our Modesto plan
Slide 8: Growth Plans
Growth Plans • Company plans to continue expanding the production of high-quality alcohol for the sanitizer market used for hand sanitizer, alcohol wipes and alcohol sprays • Long term growth driven by the adoption of antiviral products by governments, schools, private industry and consumers 8
Slide 9: Q2 2020 Highlights
Q2 2020 Highlights • Revenues were $47.8 million for the second quarter of 2020 o Driven by the entry into the high-grade alcohol market, but were slightly offset by the delay in the India Government Oil Marketing Company biodiesel bidding process • Gross profit for the second quarter of 2020 rose t
Slide 10: Cap Table as of 6/30/20
Cap Table as of 6/30/20 Latest Capitalization (Millions of USD) Currency USD Share Price $3.47 Shares Out. 21.0 Market Capitalization 73.0 - Cash & Short Term Investments 3.4 + Total Debt 252.1 + Pref. Equity 0.0 + Total Minority Interest - = Total Enterprise Value (TEV) 321.6 Book Value of Common E
Slide 11: Financials as of 6/30/20
Financials as of 6/30/20 Key Financials LT? For the Fiscal Period Ending 12 months 12 months 12 months Dec-31-2018A Dec-31-2019A Jun-30-2020A Currency USD USD USD Total Revenue 171.5 202.0 196.8 Growth Over Prior Year 14.2% 17.8% 11.8% Gross Profit 5.4 12.7 23.4 Margin % 3.2% 6.3% 11.9% EBITDA (6.2)
Slide 12: Our Market Opportunity
Our Market Opportunity Federal and California low carbon renewable fuel standards require certain obligated parties to blend increasing amounts of renewable fuels into transportation fuel sold in the United States. Renewable fuels with lower carbon scores, such as dairy biogas and cellulosic bio
Slide 13: Highly Experienced Management and Board of Directors
Highly Experienced Management and Board of Directors Eric McAfee - Chairman of the Board and CEO Founder of Aemetis (NASDAQ: AMTX) and co-founder of $1.6 billion revenues Pacific Ethanol (NASDAQ: PEIX) Founding shareholder of oil production company Evolution Petroleum (NYSE: EPM) Founded seven
Slide 14: Plan for Revenue and Earnings Growth: California Ethanol Plant
Plan for Revenue and Earnings Growth: California Ethanol Plant California Plant Upgrades (per year) Increase EBITDA by $15 million (per year) USP Medical Grade Lowered Carbon Intensity score to increase 70 million gallons Sanitizer Alcohol (Q2 2021) EBITDA by $3 million per year (Q2 2019) Installing
Slide 15: Plan for Revenue and Earnings Growth: India Biodiesel Plant
Plan for Revenue and Earnings Growth: India Biodiesel Plant India Biodiesel Plant EBITDA $12 million run rate by YE 2019 Awarded $23 million India government contract Biodiesel Capacity 50 million gallons for biodiesel supply in 2019 Built regional distribution locations for Refined Glycerin Capacit
Slide 16: Plan for Revenue and Earnings Growth: Dairy Biogas System
Plan for Revenue and Earnings Growth: Dairy Biogas System Aemetis Biogas Digesters, Pipeline and Compression Project Constructing biomethane digesters at 17 dairies near existing California ethanol plant connected by pipeline to a gas cleanup and compression facility to collect dairy biogas to produ
Slide 17: Plan for Revenue and Earnings Growth: Waste Wood Biofuels Plant
Plan for Revenue and Earnings Growth: Waste Wood Biofuels Plant Aemetis Waste Wood Biofuels Project A patented technology from InEnTec with proven gas fermentation technology from LanzaTech creates high-value, low- carbon cellulosic biofuels from waste wood generated from 1.5 million acres of almond
Slide 18: Our Waste Wood Renewable Fuels Market Opportunity
Our Waste Wood Renewable Fuels Market Opportunity The higher price obtained by producing renewable fuels with lower carbon intensity combined with reduced costs from using waste feedstocks significantly increases profit margins. Waste Wood Biofuels EBITDA 66% Price Traditional Ethanol EBITDA 3% G&
Slide 19: Waste Wood Ethanol Plant
Waste Wood Ethanol Plant Projected Income Statement for Waste Wood Renewable Fuels Plant1 2021F 2022F 2023F 2024F 2025F Plant Capacity 0% 13% 100% 100% 100% (Amounts in millions) Revenue $0 $11.3 $82.3 $82.1 $82.8 COGS 0 7.4 31.4 31.5 31.8 Operating Expenses 2.3 2.5 2.8 2.5 2.5 Net Income (2.6) (9.3
Slide 20: Appendix A: Project Investments
Appendix A Aemetis, Inc. Project Investments (Amounts in millions) Sept 30, 2020 Comments California Ethanol Plant – physical assets $145 Build/upgrade cost California Wood Waste Biofuels Plant – development value 88 Development value India Biodiesel Plant 22 Build/upgrade cost Dairy Digester System
Slide 21: Appendix B: Capital Stack
Appendix B Aemetis, Inc. Capital Stack (Amounts in millions, except EPS) Sept 30, 2019 Rate Terms Third Eye Capital and Related Entities - Notes $190.1 15.16% Senior Secured Subordinated Notes 16.1 8.14% Subordinated EB-5 Funding 38.5 1.00% Non-Callable Redeemable Preferred Equity 18.6 - - Total $26
Slide 22: Aemetis Inc. (NASDAQ: AMTX)
Aemetis Inc. (NASDAQ: AMTX)