CUPERTINO, CA, April 01, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products, today announced the design, installation and implementation of the Microsoft DynamicsTM enterprise resource planning (ERP) system worldwide for all Aemetis operations in the U.S. and India to support current operations and expansion projects. The tools and processes required to operate a global company, including manufacturing, supply chain, finance and accounting, are included in the Microsoft DynamicsTM ERP system.
The Microsoft DynamicsTM ERP system is designed to manage medium to large corporations and was selected specifically to provide a world-class platform for the Aemetis Biogas dairy renewable natural gas business, the planned IPO of the India biodiesel business, the construction and operation of the Riverbank sustainable aviation fuel production plant, the development of the Riverbank carbon sequestration project, and the operation and upgrade of the Keyes ethanol plant.
“The Microsoft DynamicsTM ERP system was selected after an extensive process of evaluating our evolving needs due to the rapid growth of the company,” stated Todd Waltz, Chief Financial Officer of Aemetis, Inc. “The specific requirements of our project management, construction and operations are supported by the new ERP system, as well as providing theplatform for the strong internal control system necessary to support the accounting and reporting requirements of ourbusiness and capital market initiatives.”
The India subsidiary has been allocated $150 million of biodiesel contracts by the three government-owned oil marketing companies in India to support the 2022 National Biofuels Policy in India that has a goal of more than 1.2 billion gallons per year of biodiesel produced and consumed in India to reduce dependence on imported crude oil, improve air quality, and create domestic jobs and investment in India.
The Riverbank sustainable aviation fuel plant was recently granted Authority to Construct air permits and is designed to produce 78 million gallons per year when allocating 100% of production to SAF for the aviation market, requiring an ERP system capable of managing the construction and operation of the plant.
The Aemetis Biogas business has turned positive cash flow from operations and is building dairy digesters toward a goal of 75 operating digesters within the next sixty months. The ERP system will enable both ongoing operations as well as multiple simultaneous construction projects.
The Aemetis carbon sequestration project at the Riverbank site has received a permit to drill the CO2 sequestration characterization well to obtain samples of the subterranean formations in support of the EPA Class VI injection well permitting process.
Due to the expansion of these businesses, Aemetis plans growth to more than $1.9 billion of revenues and $645 million of EBITDA in the fifth year of the Aemetis Five Year Plan.
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing the sustainable aviation fuel (SAF) and renewable diesel fuel biorefinery in California to utilize renewable hydrogen, hydroelectric power, and renewable oils to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com.
Safe Harbor Statement
This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2024 and future years; statements relating to the development, engineering, financing, construction, and operation of the Aemetis SAF and renewable diesel plant; and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.
External Investor Relations
Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com
Company Investor Relations/
Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com
