Aemetis, Inc · NASDAQ:AMTX
Aemetis — Investor Presentation (January 2015)
26 slides from Aemetis's investor presentation, Jan 19, 2015
Slide 1: The Aemetis Biorefinery
The Aeme's Biorefinery Advanced Renewable Fuels and Chemicals Produced by Conversion of Exis;ng Biofuels Facili;es January 2015
Slide 2: Disclaimer
Disclaimer Certain of the statements contained herein may be statements of future expecta:ons and other forward-‐looking statements that are based on management's current views and assump:ons and involve known and unknown risks and uncertain:es that could cause actual results, performance or events
Slide 3: Aemetis Vision
Aeme's Vision Aeme's is an interna'onal renewable fuels and biochemicals company using patented industrial biotechnology for the conversion of first-‐ genera'on ethanol and biodiesel plants into advanced biorefineries. Tradi'onal Corn Ethanol and Advanced Biofuels Non-‐Food, Low Carbon, Less Land Ve
Slide 4: Aemetis Overview
Aeme's Overview § Founded in 2006 by biofuels industry veteran (co-‐founder of Pacific Ethanol and EPM ) § $220 million in revenues and $39 million Adjusted EBITDA for four quarters ended Sept 2014 § Own and operate 60 million gallon Ethanol/WDG/ Vegetable oil refinery in California -‐ Largest bi
Slide 5: Management and Board of Directors
Management and Board of Directors Eric McAfee – Chairman Harold Sorgen' -‐ 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 mul:-‐billion-
Slide 6: Investment Highlights
Investment Highlights § Keyes 60 million gallon ethanol plant constructed in 2008 – Build Cost $145 million Strong Asset Values § India 50 mgy biodiesel/glycerin plant constructed 2008 – Build Cost $22 million Favorable Demand / § Current produc'on capacity of advanced biofuels is below future ma
Slide 7: Industry Overview
Industry Overview ee -
Slide 8: Falling Crude Oil Price Increases Demand and Price for Biofuels
Falling Crude Oil Price Increases Demand and Price for Biofuels CA Ethanol RBOB Gasoline 2.75 2.5 2.25 2 1.75 1.5 8
Slide 9: The Increasing Renewable Fuel Standard Mandate
The Increasing Renewable Fuel Standard Mandate In order to meet the increasing Renewable Fuel Standard, obligated par9es are required to blend greater amounts of ethanol § “Conven:onal Biofuels” must reduce greenhouse gas emissions by 20% rela:ve to gasoline or diesel and “Advanced Biofuels” must r
Slide 10: 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 Associa:on 10
Slide 11: India Biodiesel Margin Increase from Ending Diesel Subsidies
India Biodiesel Margin Increase from Ending Diesel Subsidies In October 2014, the India government eliminated subsidies for diesel, increasing the price of diesel and biodiesel in India to world market prices § Privately owned refiners are entering the diesel and biodiesel markets § Biodiesel prici
Slide 12: Business Overview
Business Overview re -
Slide 13: Growth Strategy
Growth Strategy California Ethanol India Biodiesel JV and Licensing • CO2-‐> Liquid CO2/Dry Ice • Expand to 100 mgy of • Technology Joint biodiesel produc'on Ventures • Dis'llers Oil -‐> Renewable Jet Fuel • Refined Glycerin • License Technology to • Dis'llers Oil -‐> byproduct other Biofuels Plan
Slide 14: Plants Strategically Located to Serve Large Addressable Markets
Plants Strategically Located to Serve Large Addressable Markets Aeme9s plants are strategically located to cost effec9vely serve three large target markets: renewable fuels, food & feed, and biochemicals Plakorm Products Market Size Aeme's Strategic Advantage California Biofuels Advanced California 1
Slide 15: California Ethanol Plant
California Ethanol Plant § Designed by Praj Industries, an industry leading builder of more than 450 ethanol plants General § Plant upgrade design and construc'on management by Aeme's engineering team § Stabilized produc'on capacity of more than 60 MGY, with permits allowing 75 MGY Products & §
Slide 16: California Ethanol Plant
California Ethanol Plant 16
Slide 17: Aemetis Process Benchmarking
Aeme's Process Benchmarking Aeme9s sells ethanol in California where it demands a premium price over ethanol sold in the U.S. on average. The Keyes Plant is one of the most efficient and produc9ve facili9es in the industry, with a higher yield than the industry average. Los Angeles Ethanol Price vs. M
Slide 18: India Biodiesel Plant
India Biodiesel Plant General § Built and 100% owned by Aeme's subsidiary Aeme's Interna'onal § 50 MGY nameplate biodiesel produc'on capacity with refined glycerin unit Products & § Revenues of $32 million in 2013, growing to about $180 million per year at full capacity Produc'on § Expansion to 1
Slide 19: India Biodiesel and Glycerin Plant
India Biodiesel and Glycerin Plant 19
Slide 20: Intellectual Property
Intellectual Property Aeme9s operates an R&D lab in Maryland and holds nine granted advanced biofuels technology patents 9 Exclusive Licenses Licensed § Nine awarded patents on enzyme and microbe § Chevron Lummus / ARA Renewable Jet and technology: Diesel Fuel: − Exclusive license to patented micr
Slide 21: Financial Summary
Financial Summary 21
Slide 22: Aemetis Historical Financial Performance
Aeme's Historical Financial Performance 1) Excludes debt ex;nguishment costs, intangibles amor;za;on and share-‐based compensa;on. 22
Slide 23: Aemetis Reconciliation of Adjusted EBITDA to Net Income
Aeme's Reconcilia'on of Adjusted EBITDA to Net Income 1) Excludes debt ex;nguishment costs, intangibles amor;za;on and share-‐based compensa;on. 23
Slide 24: EB-5 Summary: $36 million of Sub-debt Funding at 3% Interest
EB-‐5 Summary: $36 million of Sub-‐debt Funding at 3% Interest Aeme's 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 aOrac:ng investments from qualified foreign investors through the US C
Slide 25: Investment Summary
Investment Summary Strong Long-‐term Demand for Biofuels Plants Strategically Located to Serve Large Markets Substan:al Upside from Next Genera:on Technology Experienced Management Team 25
Slide 26: Advanced Renewable Fuels and Chemicals Produced by Conversion of Existing Biofuels Facilities
Advanced Renewable Fuels and Chemicals Produced by Conversion of Exis;ng Biofuels Facili;es www.aeme:s.com