Aemetis unveils 5-year plan targeting $1.5 billion of revenue
Summary
Aemetis has signed offtake agreements with an aggregate value of up to approximately $5.7 billion for these products during the past year. of buildings, and 50 acres of open land for construction of the Carbon Zero 1 renewable jet/diesel plant and carbon sequestration facilities; signed SunPower and Schneider Electric to construct a 1.9 megawatt solar microgrid with battery backup; completed construction and successfully tested the Mitsubishi ZEBREX electric ethanol/water separation facility; completed installation of five stainless steel tanks with 275,000 gallons of additional ethanol process tank capacity to support the operation of carbon reduction systems; and engineered the Mechanical Vapor Recompression unit at the Keyes plant to utilize low carbon intensity solar and grid electricity instead of petroleum natural gas.” In the 2022 Five Year Plan, the Company’s revenue growth is primarily expected from dairy Renewable Natural Gas, the Aemetis “Carbon Zero” renewable jet/diesel plant, and two carbon sequestration CO2 injection wells installed near the California biofuels plant sites. The plan includes the delays related to the regulatory process to obtain LCFS credit pathway approvals for each dairy digester. By completing carbon reduction upgrades and expansions of its current operating ethanol and biodiesel plants, the Company expects to generate annual revenue in ethanol and biodiesel of approximately $560 million by 2026, up from about $283 million of expected revenue in 2022, an increase of 98 percent. The Keyes ethanol plant upgrades include the Mitsubishi ZEBREX ceramic membrane ethanol/water separation unit and mechanical vapor recompression to re-use steam along with high efficiency heat exchangers, powered by a zero-carbon intensity solar array with battery storage.