Aemetis Receives $53 Million in Tax Credits for Renewable Natural Gas Investment

Aemetis, a renewable natural gas and renewable fuels company, has announced that it has received $53 million in cash from the sale of $63 million of Inflation Reduction Act (IRA) investment tax credits. The tax credits were generated by Aemetis Biogas LLC, a subsidiary of Aemetis. This achievement aligns with the goals of the Inflation Reduction Act, which aims to fund methane capture and the production of renewable natural gas (RNG) as a replacement for petroleum diesel.

The funds received will not only support Aemetis’ ongoing biogas projects but also enable the repayment of high-interest rate debt, expanding the company’s access to lower-cost debt funding. Aemetis expects to qualify for an additional $800 million of IRA investment and production tax credits over the next four years, supporting various renewable fuel projects, including biogas, CO2 re-use, sustainable aviation fuel, and CO2 sequestration.

Aemetis has already made significant progress in capturing methane at dairies and producing RNG. It currently operates seven dairy biogas digesters, 33 miles of biogas pipeline, a central biogas to RNG production facility, and a PG&E utility gas pipeline interconnection unit. Construction is underway for an additional five digesters, with 37 dairies under contract. The Aemetis Biogas project aims to capture methane from the waste produced by over 150,000 cows at dairy farms in California, producing 1,650,000 MMBtu of renewable natural gas annually. This project is expected to reduce greenhouse gas emissions equivalent to approximately 150,000 cars per year.

In addition to the tax credit sale, Aemetis has invested $30 million of equity and received $23 million in grants for the Aemetis Biogas Central Dairy Project. The company has also secured $50 million of construction and long-term debt financing and is in the process of obtaining an additional $150 million of USDA-guaranteed loan financing.

Aemetis is committed to developing and commercializing innovative technologies that reduce greenhouse gas emissions and replace petroleum-based products. With its focus on renewable natural gas, renewable fuel, and biochemicals, the company is making significant strides towards a more sustainable future.

For more information about Aemetis and its projects, please visit www.aemetis.com.

Safe Harbor Statement: This news release contains forward-looking statements, and actual results may differ from those stated due to various factors. Please refer to the company’s reports filed with the Securities and Exchange Commission for more details.