CUPERTINO, Calif., May 21, 2026 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a diversified renewable natural gas and biofuels company, announced today that the Capital Programs & Climate Financing Authority (“CPCFA”) in California has adopted an Initial Resolution related to potential future issuance of up to $1.1 billion of tax-exempt bonds for Aemetis projects.
Adoption of the Initial Resolution meets federal tax requirements so that funds from any tax-exempt bonds issued by CPCFA can be used for qualified costs of Aemetis projects incurred after the date of the resolution and for certain prior development costs.
“This Initial Resolution adopted by CPCFA further confirms the value of our projects, which reduce emissions, lower fuel costs, and create jobs and economic growth in California,” said Eric McAfee, Chairman and CEO of Aemetis. “The use of tax-exempt bonds at lower interest rates than other sources of financing has potential to enhance our financial position as we implement a variety of projects that are expected to strengthen our balance sheet and generate profitability.”
The Aemetis projects covered by the Initial Resolution include construction of more than 40 additional dairy digesters and biogas pipeline connections to the Aemetis renewable natural gas (“RNG”) production facility in Keyes, California, as well as underground CO2 sequestration and SAF/RD production under development in Riverbank, California.
Aemetis Biogas currently operates 12 anaerobic digesters that collect dairy manure waste from fifteen dairies; a 36 mile biogas collection pipeline; a central biogas-to-RNG production facility in Keyes, California; and an interconnect unit to deliver RNG into the PG&E utility gas pipeline. More than 50 dairies are contracted to supply waste to the network of dairy digesters. Aemetis supplies approximately 80 dairies with animal feed as a byproduct of ethanol production at the Keyes plant.
Issuance of tax-exempt bonds requires allocations from a statewide volume limit. Though the resolution states CPCFA’s intent to issue bonds, the adoption of the Initial Resolution by the CPCFA does not guarantee that the CPCFA will ultimately approve financings until final documentation is completed.
About Aemetis
Headquartered in Cupertino, California, Aemetis is a diversified renewable natural gas and biofuels company focused on the development and operation of innovative technologies that lower energy costs and reduce emissions. Founded in 2006, Aemetis is operating and expanding a California biogas digester network and pipeline system to convert dairy waste 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 an 80 million gallon per year production facility on the East Coast of India producing high quality biodiesel and refined glycerin. To utilize the byproducts from ethanol production, Aemetis is developing a sustainable aviation fuel plant and a CO2 sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.
Company Investor Relations
Media Contact:
Todd Waltz
(408) 213-0940
[email protected]
External Investor Relations Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
[email protected]
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; statements related to the development, engineering, financing, construction and operation of the Aemetis biodiesel and other biofuel facilities; our ability to promote, develop, finance, and construct facilities to produce biodiesel, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. 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, including risks that tax-exempt bond financing may not be obtained. 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.