logo-loader
viewAemetis Inc

Aemetis Inc secures US$158mln USDA loan for biofuel plant construction

The California biofuel plant is expected to open in 2019

Hand filling up car gas tank
The renewable fuel has low levels of carbon

Aemetis Inc (NASDAQ: AMTX) secured a United States Department of Agriculture loan guarantee for US$158mln to construct a cellulosic ethanol plant in California.

The industrial biotech company will turn the waste orchard wood that causes air pollution in Califonia's central valley into a renewable biofuel.

"It solves a health crisis. It also produces a very low-carbon fuel, actually a negative-carbon fuel, which is something that is very valuable in California," said CEO Eric McAfee.

The plant is expected to open in 2019.

The biotech company has a facility in India as well, making it one of the only five biodiesel producers in the country.

Shares of Aemetic Inc were up 9.4% Tuesday afternoon.

Aemetis Inc will present at the New York City Microcap Conference on April 9 and 10.

Quick facts: Aemetis Inc

Price: 0.8 USD

NASDAQ:AMTX
Market: NASDAQ
Market Cap: $16.46 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Xpediator's Stephen Blyth outlines five-year growth plans as core businesses...

Xpediator PLC's (LON:XPD) Stephen Blyth speaks to Proactive London following the release of its 2019 trading update. The firm saw turnover rise 19% to £212mln - boosted by acquisitions and organic growth while adjusted pre-tax profit's expected to be slightly above £5mln. Blyth says a big...

2 days, 18 hours ago

2 min read