Aemetis, Inc · NASDAQ:AMTX
Aemetis — Investor Presentation (December 2015)
24 slides from Aemetis's investor presentation, December 2015
Slide 1: The Aemetis Biorefinery
The Aemetis Biorefinery Rapid Renewable Fuels Growth in India (NASDAQ: AMTX) December 2015
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 Mission
Aemetis Mission Aemetis is an international renewable fuels and biochemicals company using patented industrial biotechnology for the conversion of first‐ generation ethanol and biodiesel plants into advanced biorefineries Traditional Corn Ethanol and Advanced Biofuels Non‐Food, Low Carbon, Less Vege
Slide 4: Aemetis Overview
Aemetis Overview Founded in 2006 by biofuels industry veteran (co‐founder Pacific Ethanol and EPM) $208 million revenue and $30 million Adjusted EBITDA for 2014 Own/operate 60 million gallon Ethanol plant in California ‐ Largest biofuels refinery in California Own/operate 50 million gallon D
Slide 5: Management and Board of Directors
Management and Board of Directors Harold Sorgenti ‐ Former President/CEO of ARCO Chemical Company (12 years including IPO) Board of John Block ‐ Former Secretary of Agriculture from 1981‐86 under President Reagan Directors Fran Barton ‐ Former CFO of five high tech companies with revenues above $1 b
Slide 6: Industry Overview
Industry Overview _———E= ©
Slide 7: The Increasing Renewable Fuel Standard Mandate
The Increasing Renewable Fuel Standard Mandate In order to meet the increasing Renewable Fuel Standard, obligated parties are required to blend greater amounts of ethanol “Conventional Biofuels” must reduce greenhouse gas emissions by 20% relative to gasoline or diesel and “Advanced Biofuels” must
Slide 8: Ethanol in Demand in Export Markets
Ethanol in Demand in Export Markets 2013 U.S. Ethanol Exports (millions of gallons)(1) Canada 325 Europe 39 East Asia Middle 8 East 40 Mexico Jamaica Philippines 10 India 31 13 52 Africa 10 Brazil Peru 47 30 Rest of world = 15 1) Source: Renewable Fuels Association 8
Slide 9: India's Market Size and Diesel Consumption by Market Segment
India’ s Market Size and Diesel Consumption by Market Segment • India diesel market size is about 25 billion gallons, 5x bigger than gasoline market • $10 billion diesel subsidy was eliminated in October 2014 • India diesel consumption is 70% transport and 30% non‐transport • India has 13 of the 20
Slide 10: India Biodiesel Market Expands from Ending Large Diesel Subsidies
India Biodiesel Market Expands from Ending Large Diesel Subsidies In October 2014, the India government eliminated about $10 billion of annual subsidies for diesel and other fuels, increasing the price of diesel and biodiesel in India to world market prices In January 2015, the India government
Slide 11: Update on India Biodiesel Market
Update on India Biodiesel Market During Q3:2015, biodiesel revenues grew 56% quarter‐over‐quarter to $6.1 million. Second quarter of shipments since diesel deregulation Three state run refinery and fuel blending companies ‐ Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL)
Slide 12: Business Overview
Business Overview _—————uaE
Slide 13: Roadmap for Product Revenues
3 to 5 year Roadmap for Product Revenues Current Future Volume Target Ethanol 90-95% 10-20% 100 mgy Improve margins by Cellulosic Ethanol addition Biodiesel 5-10% 25-35% 100 mgy Improve margins by deploying enzymatic process Renewable Jet 0% 45-65% 200 mgy and Diesel Aemetis is reducing ethanol indu
Slide 14: Growth Strategy: Three Major Renewable Fuel Markets
Growth Strategy: Three Major Renewable Fuel Markets Ethanol Plants Biodiesel Plants Jet/Diesel Plants • Steam Turbine (CHP) • Distilled Biodiesel • ChevronLummus/ARA • Advanced Clean‐In‐Place • Refined Glycerin global technology license • Liquid CO2/Dry Ice for 100% replacement, renewable jet/diesel
Slide 15: California Ethanol Plant
California Ethanol Plant 15
Slide 16: India Biodiesel and Glycerin Plant
India Biodiesel and Glycerin Plant 16
Slide 17: New Markets Overview
New Markets Overview ua ©
Slide 18: Intellectual Property
Intellectual Property Aemetis operates an R&D lab in Maryland and holds nine granted biofuels technology patents 9 Exclusive Licenses Licensed Nine awarded patents on enzyme and Chevron Lummus / ARA Renewable microbe technology: Jet and Diesel Fuel: − Exclusive license to patented microbes to pr
Slide 19: Aemetis Biorefinery: CH Jet/Diesel Technology Benefits
Aemetis Biorefinery: CH Jet/Diesel Technology Benefits ARA’s CH technology uses water as catalyst to convert vegetable and animal oils (triglycerides, esters, fatty acids) directly into hydrocarbons − Same hydrocarbon types as petroleum – distributed over entire boiling range Chevron Lummus Glob
Slide 20: Financial Overview
Financial Overview 20
Slide 21: Aemetis Financial Performance
Aemetis Financial Performance Years Ended Dec. 31 ($ in thousands) Keyes Revenue 2013 2014 $209,965 Income Statement Revenues $177,514 $207,683 Cost of Goods Sold 159,220 170,539 Gross Profit $18,294 $37,144 Expenses SG&A $15,275 $12,595 R&D 539 459 Operating Income $2,480 $24,090 Adjusted EBITDA(1)
Slide 22: Long Term Industry Model (LTIM)
Long Term Industry Model (LTIM) LTIM Aemetis 2014 Revenue ($ in millions) 100% $208 Gross Margin 20-25% 18% Operating Income 15-20% 12% First generation ethanol in the U.S. is a maturing market generating cash flow to fund debt reduction and company growth Aemetis is launching higher‐margin products
Slide 23: EB-5 Summary: $36 million of Sub-debt Funding at 3% Interest
EB‐5 Summary: $36 million of Sub‐debt Funding at 3% Interest Aemetis signed investors for $36 million of EB‐5 sub‐debt financing at 3% interest rate − Congress created the EB‐5 program in 1990 to benefit the U.S. economy by attracting investments from qualified foreign investors through the US Custo
Slide 24: Investment Summary – Aemetis
Investment Summary – Aemetis (Nasdaq: AMTX) Strong Long‐term Demand for Biofuels Plants Strategically Located to Serve Large Markets Substantial Upside from Next Generation Technology Experienced Management Team 24