Aemetis Shares Increase Over 18% Intraday: Why It Happened

By Amit Chowdhry ● Aug 12, 2021
  • The shares of Aemetis, Inc. (NASDAQ: AMTX) increased by over 18% during intraday trading. This is why it happened.

The shares of Aemetis, Inc. (NASDAQ: AMTX) – an advanced renewable fuels and biochemicals company – increased by over 18% during intraday trading. Investors are responding positively to the company announcing its financial results for the three and six months ended June 30, 2021.

These are the highlights:

— The revenues from ethanol sales in the second quarter of 2021 increased 16% compared to the second quarter of 2020 as economic recovery from COVID-19 continues to create increased demand for liquid transportation fuels along with its associated stronger pricing

— The North America revenues during the second quarter of 2021 increased to $54.7 million compared to $45.2 million during the second quarter of 2020

— The capital expenditures for ultra-low carbon projects were $12.9 million for the first 6 months of 2021 as the engineering and construction teams progress with the initiatives outlined in our previously announced Five Year Plan

KEY QUOTE:

“We are pleased with the milestones accomplished during the second quarter of 2021, including progress in engineering and permitting the next 32 miles of biogas pipeline and several dairy digesters. The Aemetis Biogas RNG project received approval for a Low Carbon Fuel Standard pathway that established a -426 carbon intensity for our dairy RNG biogas project, and we received California Environmental Quality Act approval for the 32-mile extension to our existing 4-mile biogas pipeline, in addition to an encroachment permit to construct approximately 20 miles of pipeline in Stanislaus County. We also expanded the team managing the Aemetis Carbon Capture subsidiary to inject CO2 emissions into sequestration wells which are expected to be drilled at our two biofuels plant sites in California above unique shale formations. We invite investors to review the updated Aemetis Corporate Presentation on the Aemetis home page prior to the earnings call.”

— Eric McAfee, Chairman and CEO of Aemetis

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.