2024-05-15 06:32:49 ET
Summary
- Aemetis, a renewable natural gas and renewable fuels company, reported strong revenue growth in its operating segments, including a 3,276.7% YoY jump in revenue.
- The company plans to meet ambitious growth targets by expanding its RNG segment and developing a sustainable aviation fuels (SAF) production facility.
- SAF adoption by airlines has been slow due to high costs, but European mandates and commitments from major airlines could drive demand and improve the economics of SAF production.
Earlier in the year, renewable natural gas and renewable fuels company Aemetis, Inc. (AMTX) popped up on my radar thanks to being one of a handful of clean energy stocks to finish in the green in 2023. AMTX is up 113.0% over the past 12 months, a sharp contrast to the -28.0% return by iShares Global Clean Energy ETF ( ICLN ) over the timeframe. ICLN is the largest renewable energy ETF and a popular catch-all bet on clean energy while Aemetis is California’s largest producer of biofuels. The company returned an impressive Q1 2024 scorecard on May 9, with the report containing several notable milestones. The company reported revenue of $72.6M, $0.48M above the Wall Street consensus and good for a huge 3,276.7% Y/Y jump, thanks in large part to easy comps....
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For further details see:
Aemetis: Getting Ready For Breakout Growth