Aemetis, Inc (AMTX) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and increasing 45C income streams during 2026 as new projects are completed. With that, I'll turn the call over to Eric McAfee, Chairman and CEO of AMETIS. Eric? Thank you, Todd. I'll start with the business segment update, followed by updates on future projects and a regulatory update. In our dairy RNG business, we significantly increased biogas production capacity at the end of the third quarter, with a new multi-dairy digester coming online in September. that increased RNG production capacity by more than 30%. As planned, we expect to reach more than 500,000 MMBTUs of renewable natural gas production capacity by the end of this year and grow to a 1 million MMBTU annual run rate by the end of 2026. We are now operating or building digesters to process waste from 18 dairies funded by $50 million of USDA guaranteed financing with 20-year repayment terms and attractive interest rates as well as equity and revenues from operations. Seven of our dairy digester low carbon fuel standard pathways were approved by the California Air Resources Board during the second quarter of this year at an average negative 384 carbon intensity score. These pathway approvals increased our LCFS credit revenue by 160% for these dairies starting in the third quarter of this year. compared to dairy digesters with the negative 150 default pathway score, while pathways are pending approval. Four more LCFS pathways are currently under review at CARB and are expected to be approved under the faster Tier 1 pathway process that was adopted by CARB in the July 2025 extension of the LCFS program. Additionally, these dairy RNG facilities qualify for federal Section 48 investment tax credits. To date, we have sold $83 million in investment tax credits related to our R&G facilities and received more tha...