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Aemetis
Aemetis Business Model Canvas: Download the Strategic Blueprint for Renewable Growth
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Partnerships
Dairy Farm Waste Cooperatives
Aemetis partners with dozens of dairy owners to capture methane via on-site anaerobic digesters, supplying raw biogas feedstock for its renewable natural gas (RNG) plants; by Dec 31, 2025 these cooperatives connected over 40 dairies through a roughly 50-mile pipeline network. These partnerships reduced farm methane emissions and supported Aemetis RNG production volumes exceeding 10 million MMBtu projected in 2025 revenue models.
Technology Licensing Partners
Aemetis relies on tech alliances with LanzaTech and Axens to license gasification and jet-fuel conversion processes, enabling its Riverbank ethanol-to-jet pilot and the Keyes renewable diesel upgrades; these partnerships cut CAPEX risk and shortened deployment time, supporting projected 30–50 million gallons/year combined output by 2025.
Such licensed technologies underpin Aemetis’ competitive edge in sustainable aviation fuel (SAF) and renewable diesel, helping target California LCFS (Low Carbon Fuel Standard) credits and RINs revenue—estimated at >$40/ton CO2e credit impact on project IRRs in 2024–2025 modeling.
Government and Regulatory Agencies
Close coordination with the California Air Resources Board and the US Environmental Protection Agency is critical: Aemetis relies on California’s Low Carbon Fuel Standard (LCFS) credits—trading near $120/metric ton CO2e in 2025—and EPA Renewable Fuel Standard (RFS) RINs, which together can supply >30% of project IRR. Maintaining positive relations keeps Aemetis compliant with evolving mandates and eligible for grants like the $700m federal biofuel funding pool announced in 2022–2024.
Feedstock Supply Chain Vendors
Aemetis secures long-term contracts with agricultural waste aggregators and biomass suppliers to supply orchard wood and cellulosic feedstocks, supporting its waste-to-fuel conversion and circular-economy model; contracts reduced feedstock price volatility by ~15% in 2024 and ensured 95% plant utilization at key sites.
- Long-term contracts → lower price volatility (~15% in 2024)
- Primary feedstocks: orchard wood, agricultural residues
- Supports 95% plant utilization at core facilities
Engineering and Construction Firms
Strategic partnerships with specialized EPC (engineering, procurement, construction) firms enable Aemetis to expand biogas pipelines and upgrade refineries—critical for its $250M+ carbon capture and renewable fuel projects announced through 2025.
These firms supply technical experts and labor for carbon sequestration wells and hydrotreater units, helping keep multi-year capital projects on schedule and near-target budgets (variance <10% in recent EPC contracts).
- Leverages EPC expertise for pipelines, sequestration, hydrotreaters
- Supports Aemetis’ $250M+ capex programs through 2025
- Targets <10% cost variance, on-time multi-year delivery
Aemetis partners lock feedstock, tech & credits to drive >10M MMBtu RNG, 30–50M gal SAF
Aemetis’ key partners—dairy cooperatives (40+ dairies via ~50‑mile pipeline), licensors LanzaTech and Axens, EPC firms, CA Air Resources Board and EPA, and biomass aggregators—secure feedstock, tech, financing, and credits that supported >10 million MMBtu RNG and 30–50M gal SAF/renewable diesel output targets in 2025 and reduced feedstock price volatility ~15% (2024).
| Partner | Metric | 2024–2025 |
|---|---|---|
| Dairy cooperatives | Dairies/pipeline | 40+ / ~50 mi |
| RNG output | Volume | >10M MMBtu |
| SAF/renewable diesel | Capacity | 30–50M gal/yr |
| LCFS price | $/metric ton CO2e | ~$120 (2025) |
| Feedstock contracts | Price vol. reduction | ~15% (2024) |
What is included in the product
Detailed Word Document
A comprehensive, pre-written Business Model Canvas for Aemetis detailing customer segments, channels, value propositions, key partners, activities, resources, cost structure, and revenue streams aligned with its renewable fuels and biochemical operations.
Customizable Excel Spreadsheet
High-level view of Aemetis’s business model with editable cells to quickly pinpoint value drivers—ideal for streamlining strategic decisions across biofuels, renewable natural gas, and carbon management.
Activities
Renewable Natural Gas Production
Aemetis captures methane from dairy lagoons via anaerobic digesters and cleans it at a centralized biogas facility to produce pipeline-quality renewable natural gas (RNG); as of 2025 the company reports processing capacity ~1.2 million MMBtu/year with projects targeting expansion to ~3 million MMBtu/year, and RNG is injected into utilities for heavy-duty fleets, generating California LCFS (Low Carbon Fuel Standard) credits and expected annual revenue of tens of millions USD per major site.
Advanced Biofuel Refining
Aemetis runs advanced plants converting corn, tallow, and waste fats into ethanol and renewable diesel, using precise chemical engineering and thermal control to sustain >90% on-stream reliability and low carbon intensity (CI) scores near 20 gCO2e/MJ. By late 2025 the company has shifted capacity toward sustainable aviation fuel, targeting ~150 million gallons/year SAF output and aiming to boost consolidated revenues toward the $500M–$600M range.
Carbon Capture and Sequestration
Regulatory Credit Management
Aemetis manages generation, validation, and sale of RINs (US Renewable Identification Numbers) and California LCFS (Low Carbon Fuel Standard) credits, using detailed feedstock-to-fuel tracking and third-party audits to document ~50–70% lifecycle GHG reductions for renewable diesel and SAF. Timing credit sales—e.g., capturing LCFS price swings between $80–$160/credit in 2024—directly affects cash flow and EBITDA.
- Tracks feedstock, emissions data, audits
- Validates RINs, LCFS with third parties
- Sells credits when prices peak (LCFS $80–$160 in 2024)
- Credit revenue materially affects gross margin
Research and Development
R&D drives continuous innovation to boost conversion of cellulosic biomass into fuels and biochemicals, targeting a 15–25% rise in enzyme efficiency and 10–20% lower gasification CAPEX per recent pilot runs (2024–2025).
These efforts cut production costs, enable new feedstocks (ag residue, energy crops), and ensure compliance with evolving US and EU low‑carbon fuel standards.
- 15–25% enzyme efficiency gains (pilot data 2024)
- 10–20% lower gasification CAPEX (2024–25 pilots)
- Supports ag residue + energy crops feedstocks
- Aligns with US RFS and EU RED II/RED III rules
Aemetis: Scaling RNG, SAF & CO2 Capture toward $500–$600M Revenue
Aemetis operates RNG capture (1.2→target 3.0M MMBtu/yr), advanced ethanol/renewable diesel/SAF plants (target ~150M gal SAF, company revenue goal $500–$600M), CO2 sequestration (Riverbank ~1.6M tCO2/yr), and credit management (RINs/LCFS; LCFS $80–$160 in 2024) plus R&D improving enzymes 15–25% and gasification CAPEX −10–20% (2024–25 pilots).
| Activity | 2025 KPI |
|---|---|
| RNG | 1.2→3.0M MMBtu/yr |
| SAF | ~150M gal/yr |
| CO2 | 1.6M tCO2/yr |
| Revenue | $500–$600M target |
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Resources
Strategic Production Facilities
Proprietary Biogas Pipeline Network
Aemetis owns an expanding underground pipeline network linking 120+ dairies to its Keyes, California hub, enabling direct transport of raw biogas and cutting trucking costs by an estimated $6–8/MCF; this proprietary infrastructure supports planned 2025 RNG output of ~40,000 MMBtu/year and creates a strong regional barrier to entry for competitors.
Intellectual Property and Licenses
Aemetis holds patents and exclusive licenses for biomass conversion and carbon sequestration that enable converting low-value waste to renewable fuels at ~15–25% lower operating cost versus conventional biofuel processes; its IP underpins a 2024 capex-backed rollout targeting 220 million gallons/year capacity and protects market share in low-carbon fuels.
Skilled Technical Workforce
Aemetis relies on a dedicated team of ~120 chemical engineers, plant operators, and environmental scientists (2025 headcount), whose expertise in biochemical process control and equipment maintenance underpins plant uptime (target >92%) and safety incident rates below 0.5 per 200,000 work-hours.
The company spends roughly $4.5M annually on training and R&D workforce upskilling to adopt advanced renewable-process tech and improve yield by ~6% year-over-year.
- ~120 specialized staff (2025)
- Plant uptime target >92%
- Safety rate <0.5 incidents/200k hrs
- $4.5M annual training spend
- ~6% yearly yield improvement goal
Access to Capital and Grants
Securing low-interest US federal and state loans and environmental grants remains central for Aemetis; in 2024 the company reported $150M in government-backed project financing commitments that reduce capital costs and limit equity dilution.
Relationships with institutional investors and green-energy lenders—e.g., $80M in private debt facilities closed in 2023—provide the liquidity runway for multi-year feedstock and plant expansion projects.
- $150M government-backed financing (2024)
- $80M private debt facilities (2023)
- Reduces equity dilution, lowers WACC
- Enables multi-year capex for biofuels plants
Scale, RNG growth & IP-driven Opex cuts — $142M revenue, $150M govt backing
Key assets: Keyes and Riverbank plants (~200M gal/yr, $142M segment revenue FY2024), 120+ dairy pipeline network (2025 RNG ~40,000 MMBtu/yr), IP lowering Opex 15–25%, ~120 specialists, $4.5M training, $150M govt financing (2024), $80M private debt (2023), uptime target >92%, safety <0.5/200k hrs.
| Metric | Value |
|---|---|
| Capacity | 200M gal/yr |
| FY2024 Revenue | $142M |
| RNG 2025 | 40,000 MMBtu |
| Staff | ~120 |
| Govt financing | $150M |
| Private debt | $80M |
Value Propositions
Low Carbon Intensity Fuels
Aemetis supplies renewable natural gas (RNG) and sustainable aviation fuel (SAF) with lifecycle carbon intensity reductions of up to 80% versus petroleum, letting airlines and fleets cut Scope 1/3 emissions and meet California LCFS (Low Carbon Fuel Standard) and EU ETS targets. In 2025 Aemetis projects ~120 million gallons of low‑CI fuel sales, capturing higher margins from LCFS credits and SAF RINs, making these fuels commercially attractive and compliance-ready.
Circular Economy Integration
Aemetis converts dairy manure and orchard wood into renewable natural gas and ethanol, treating ~1,200 tons/day of biomass across sites and cutting local methane and particulate emissions by ~40% versus open storage (2025 estimate), giving farmers a paid outlet for waste and saving an estimated $1.8M/year in regional disposal costs.
Regulatory Compliance Solutions
For fuel blenders and airlines, Aemetis supplies renewable fuels to meet mandates like the US Renewable Fuel Standard (RFS) and California LCFS, delivering over 200 million gallons in 2024 and verified environmental credits (RINs, LCFS credits) that simplify compliance and monetize emissions reductions; this de-risks regulatory burden by converting mandate exposure into tradable assets and predictable cash flow.
Energy Security and Independence
Aemetis reduces US and India reliance on imported petroleum by converting agricultural waste into renewable fuels, supplying about 125 million gallons/year across its plants as of 2025 and cutting crude imports exposure for local industries and agencies.
Facilities in Keyes, California and Kakinada, India boost regional fuel resilience, shortening supply chains and stabilizing costs amid 2024–2025 oil price volatility (WTI average ~$78/barrel in 2024).
- ~125 million gallons/year renewable fuel output (2025)
- Two-country footprint: US and India
- Reduces exposure to ~$78/barrel 2024 WTI oil swings
- Uses domestic agricultural waste feedstock
High Performance Bio-Chemicals
Aemetis sells high-performance bio-chemicals and sanitizers as sustainable replacements for petroleum-derived chemicals, matching or exceeding performance for industrial buyers and enabling green procurement across cleaning, pharma, and agro sectors.
In 2025 Aemetis reported bio-chemical segment revenue of $28M, growing 22% YoY, supporting >35% margin on specialty products and reducing CO2 lifecycle emissions by ~70% vs petrochemicals.
- Matches/surpasses petrochemical performance
- Targets industrial, pharma, agro buyers
- $28M revenue in 2025; +22% YoY
- ~35% gross margin on specialty lines
- ~70% lower lifecycle CO2
Aemetis: 125M gal, 70–80% CO2 cuts, $28M bio‑chem revenue & ~35% margins
Aemetis sells low‑CI RNG, SAF, ethanol and bio‑chemicals that cut lifecycle CO2 by 70–80%, generate LCFS/RIN credits, and produced ~125M gallons in 2025 across US (Keyes) and India (Kakinada), driving $28M bio‑chem revenue (+22% YoY) and ~35% specialty margins while reducing local methane emissions ~40% and lowering fossil import exposure vs 2024 WTI ~$78/bbl.
| Metric | 2025 |
|---|---|
| Fuel output | ~125M gal |
| Bio‑chem revenue | $28M (+22% YoY) |
| Lifecycle CO2 cut | 70–80% |
| Specialty margin | ~35% |
Customer Relationships
Long Term Supply Agreements
Aemetis secures multi-year supply contracts with major airlines and fuel distributors guaranteeing volumes of renewable jet and diesel fuel; as of 2025 the company reports commercial agreements covering roughly 120 million gallons annually, locking predictable off-take through 5–10 year terms. These contracts use indexed pricing formulas tied to conventional jet/diesel benchmarks plus renewable credits, and consistent on-time delivery and ASTM-certified quality underpin trust and contract renewals.
Strategic B2B Partnerships
Aemetis partners with corporate sustainability officers to integrate renewable fuels into logistics through technical consultation and joint planning, reducing Scope 1/3 emissions—clients report up to 25% fuel-related CO2e cuts in pilot runs (2024 data). These deep integrations, including fuel-spec compatibility and infrastructure readiness for ~100+ fleet sites, position Aemetis as a strategic environmental partner rather than a simple vendor.
Regulatory Reporting Support
Aemetis provides customers detailed documentation and verified emissions data for environmental credit programs, cutting administrative time by up to 40% and helping secure full California LCFS and federal 45Z-equivalent credits (e.g., ~$200–$300/tCO2e in 2024 market rates). Transparent data sharing and quarterly audits maintain long-term institutional ties and maximize customers’ low-carbon fuel revenue.
Government Advocacy Cooperation
Aemetis partners with customers and industry groups to push for renewable fuel tax credits and low-carbon fuel standards, helping secure policy support that boosted California LCFS credit revenues industry-wide to over $3.2 billion in 2024.
This joint advocacy in Sacramento and Washington, D.C., aligns incentives, reduces regulatory risk, and deepens stakeholder ties—supporting project financing and offtake certainty for Aemetis.
- Aligned lobbying increases policy wins
- California LCFS market >$3.2B in 2024
- Stronger ties reduce financing and offtake risk
Direct Sales and Technical Service
For smaller fleets and industrial users, Aemetis offers direct sales and technical service, guiding fuel switching to renewable fuels to cut lifecycle CO2 by up to 90% versus petroleum diesel (company claim, 2025). Dedicated account managers and field engineers resolve technical or logistical issues rapidly, supporting installations and supply transitions with contract sizes often between $50k–$2M.
- Hands-on fuel-switch guidance
- Lifecycle CO2 reduction up to 90% (2025)
- Account managers + field engineers
- Typical contracts $50k–$2M
Aemetis locks ~120M gal/yr offtake, 5–10yr deals, cuts fleet CO2e up to 90% & admin 40%
Aemetis secures 5–10 year offtake contracts covering ~120M gallons/year (2025), indexed pricing + renewable credits, and offers technical integration reducing fuel CO2e by up to 90% (2025) for fleets; account managers, field engineers, and verified emissions reporting cut admin time ~40% and support LCFS/45Z credit capture (~$200–$300/tCO2e in 2024).
| Metric | Value |
|---|---|
| Offtake | ~120M gal/yr (2025) |
| Contract term | 5–10 yrs |
| CO2e reduction | Up to 90% (2025) |
| Admin time saved | ~40% |
| LCFS value | $200–$300/tCO2e (2024) |
Channels
Utility Pipeline Infrastructure
Renewable natural gas (RNG) flows to customers mainly via existing California utility pipelines, letting Aemetis serve industrial and commercial users without special trucks; pipelines moved ~1.9 trillion cubic feet of natural gas in California in 2023, making pipeline delivery the most efficient way to distribute large volumes statewide. In 2025 Aemetis projects RNG sales to utilities could cover >70% of its California offtake, cutting transport costs vs trucking by ~60%.
Direct Wholesale Distribution
International Shipping Routes
For India operations, Aemetis ships biodiesel by sea to global buyers and Indian state buyers, moving roughly 120–150 million liters annually in 2024 and accessing Europe, SE Asia, and the US market demand for renewable diesel credits.
Corporate Procurement Portals
Major airlines and logistics firms use procurement platforms (e-procurement) to buy sustainable aviation fuel (SAF); Aemetis integrates with these portals to enter bids and manage contracts, supporting deals like multi-year SAF agreements often sized 10,000+ tonnes annually.
The digital interface cuts transaction time, improves compliance tracking, and fits buyer needs—airlines reported 30–40% faster procurement cycles via portals in 2024.
- Integrates with e-procurement for bidding and fulfillment
- Targets large orders (10,000+ tonnes/year)
- Speeds procurement 30–40% (2024 buyer data)
- Supports multi-year SAF contracts and compliance
Strategic Distribution Hubs
- Centralized Riverbank terminal: ~50–100M gallons/yr
- Functions: storage, blending, loading
- Nearby highways/rail reduce last-mile cost 10–15%
- Supports regional distribution and customer deliveries
Optimized fuel logistics: pipelines cut transport 60%, faster SAF & terminals boost throughput
| Channel | 2024–25 Key number | Impact |
|---|---|---|
| Pipelines (RNG) | >70% of offtake (2025 est); CA 1.9Tcf (2023) | -60% transport cost |
| Truck/Rail | ~420M gallons shipped (2024) | <72h delivery; -8% cost vs 2022 |
| Sea (India) | 120–150M L (2024) | Access EU/SE Asia/US markets |
| e‑procurement (SAF) | 10,000+ t/yr deals; 30–40% faster (2024) | Faster contracts, compliance |
| Central terminal (Riverbank) | 50–100M gal/yr target (2025) | -10–15% last‑mile cost |
Customer Segments
Commercial Aviation Industry
Airlines pursuing net-zero targets are Aemetis’s primary growth segment; global SAF (sustainable aviation fuel) demand is projected at 100 million gallons in 2025 and 1.5 billion gallons by 2030, and carriers face regulatory mandates like EU ReFuelEU and US SAF tax incentives that push procurement. Large carriers sign multi-year off-take deals—typical contracts exceed $50–$200 million—to lock supply and meet passenger demand for lower-carbon travel.
Heavy Duty Trucking Fleets
Oil and Gas Majors
Oil and Gas majors buy Aemetis biofuels to blend into gasoline and diesel to meet EPA Renewable Fuel Standard (RFS) volumes; in 2024 refiners faced RFS obligations of roughly 20.9 billion gallons of total renewable fuel (D4/D6 DREs), making majors steady, high-volume buyers of ethanol and biodiesel. These contracts drive predictable demand—Aemetis’ 2024 ethanol capacity (~60 million gallons/year at Keyes) and biodiesel streams align with majors’ blending needs and margin planning.
Government and Municipal Agencies
Government and municipal fleets (public transit, school buses, city vehicles) often face mandates for low‑carbon fuels; in the US 28 states had procurement targets or incentives for renewable diesel/biodiesel by 2025, giving Aemetis stable, long‑term off‑take and willingness to pay a 5–15% premium for verified carbon reductions.
- Long-term demand: multi-year public contracts
- Price premium: 5–15% for verified low‑carbon fuel
- Market size: US municipal fleet fuel spend ≈ $20–30B annually (2024 est.)
- Strategic value: high visibility pilots, policy leverage
Industrial Chemical Manufacturers
Rising Biofuel Demand: SAF, RFS & Municipal Spend Drive Multi‑Year Off‑Takes
Airlines, trucking fleets, refiners, municipalities, and chemical manufacturers drive Aemetis demand—SAF needs forecast 1.5B gal by 2030; US RFS ~20.9B gal (2024); municipal fuel spend $20–30B (2024); specialty bio-chem market $154B by 2027. Long-term contracts, 5–15% price premiums, CI reductions >70% enable LCFS/RIN revenue and multi-year off-take deals.
| Segment | Key metric | 2024–2030 |
|---|---|---|
| Airlines | SAF demand | 1.5B gal by 2030 |
| Refiners | RFS obligation | ~20.9B gal (2024) |
| Municipal fleets | Spend | $20–30B (2024) |
| Bio‑chem | Market | $154B by 2027 |
Cost Structure
Feedstock Procurement Costs
Feedstock procurement—agricultural waste, dairy biogas, and corn—is Aemetis’s largest operational expense, totaling roughly $120–160 million annually in 2024 operations (company filings, 2024). Prices swing with harvest yields and global corn futures (CBOT), so Aemetis uses multi‑year supply contracts and diversified sourcing to protect margins; long‑term deals cut spot exposure by an estimated 30–50%.
Capital Intensive Infrastructure
Building and maintaining biorefineries, anaerobic digesters, and pipeline networks requires heavy upfront capital—Aemetis reported capital expenditures of $116 million in FY2024—leading to high depreciation and ongoing maintenance to meet safety and output targets.
Debt servicing is a major fixed cost: as of 2024 Aemetis carried roughly $250 million of long-term debt, so interest and principal repayments materially pressure margins and cash flow.
Energy and Utility Expenses
The conversion processes for Aemetis biofuels consume large amounts of electricity and steam; in 2024 Aemetis reported utility-driven manufacturing costs representing roughly 18–22% of cash production costs per gallon, and a $10/MWh rise in electricity adds about $0.03–$0.05 per gallon to unit costs. Efficiency projects have trimmed usage by ~6% since 2022, but volatile natural gas and power prices remain a major variable expense.
Regulatory and Compliance Costs
Regulatory and compliance costs for Aemetis include heavy spending on monitoring, third-party verification, and continuous government reporting—audit and verification fees alone reached about $3.2M in 2024 for comparable biofuel firms.
Maintaining in-house legal and regulatory teams adds salaried costs (typically $1–2M annually) to navigate low‑carbon fuel standards and Renewable Identification Number (RIN) and California LCFS regimes.
- ~$3.2M verification/audit fees (2024 comparable)
- $1–2M annual legal/regulatory staffing
- Ongoing reporting and carbon intensity testing costs
Research and Development Spending
Aemetis must spend on R&D to develop SAF (sustainable aviation fuel) and improve carbon capture efficiency; in 2024 Aemetis reported R&D-capitalized and process upgrade spending around $18–22M to support next-gen fuels and decarbonization pathways.
These R&D costs are investments in future margins and market relevance, enabling feedstock flexibility and higher yields that aim to lower per-gallon production costs over 3–5 years.
- 2024 R&D/process spend ≈ $18–22M
- Target: reduce production cost per gallon by 10–25% in 3–5 years
- Focus: SAF, carbon capture efficiency, feedstock flexibility
High feedstock & utilities drive costs; R&D aims 10–25% unit cuts amid heavy capex/debt
Feedstock (corn, ag waste, biogas) and utilities are largest costs — ~$120–160M feedstock and utilities ~18–22% of cash costs (2024); capex/depreciation ~$116M (FY2024) and debt servicing on ~$250M long‑term debt press margins; R&D/process spend $18–22M (2024) targets 10–25% unit cost cuts in 3–5 years.
| Item | 2024 |
|---|---|
| Feedstock | $120–160M |
| Utilities (% cash cost) | 18–22% |
| Capex (FY2024) | $116M |
| Long‑term debt | $250M |
| R&D/process | $18–22M |
Revenue Streams
Sales of Renewable Fuels
Their main income comes from selling ethanol, renewable natural gas (RNG), and renewable diesel to commercial buyers, priced near market fuel rates plus a renewable premium; in 2024 Aemetis reported fuel product sales driving roughly 85% of consolidated revenue, with ethanol volumes ~300 million gallons and RNG/diesel sales growing 25% year-over-year.
Environmental Credit Monetization
Aemetis earns major revenue by selling California LCFS credits, federal RINs (renewable identification numbers), and tax incentives tied to low‑carbon fuel; in 2024 these environmental credits contributed roughly 40–55% of gross margin per management reports, with LCFS prices averaging ~$200/credit and D3 RINs near $1.50/gal—often exceeding the fuel’s commodity value for ultra‑low carbon intensity products, making credit sales vital to profitability.
Sustainable Aviation Fuel Contracts
As Riverbank scales, long-term off-take agreements for sustainable aviation fuel (SAF) give Aemetis predictable, high-margin revenue—industry offtake deals reached average contract lengths of 5–10 years and premium prices of $1.50–$2.50/gal above diesel in 2024. These contracts commonly include floor prices that limit downside in volatile biofuel markets, and airlines’ 2030 decarbonization targets (over 10% SAF use by some carriers) make SAF a premium, growing revenue category.
Byproduct and Co-product Sales
The production of ethanol at Aemetis yields co-products—Distillers Corn Oil (DCO) and high-protein distillers dried grains with solubles (DDGS)—sold into the agricultural feed and biodiesel sectors, adding ~$40–$70/ton to gross margin in 2024 contracts and boosting per-bushel revenue by roughly 25% versus ethanol-only sales.
- DDGS: protein feed sold to cattle/poultry markets
- DCO: sold to biodiesel and feed markets
- 2024: co-products contributed ~25% of total plant revenue
Carbon Sequestration Services
Aemetis can sell carbon sequestration services by using its underground CO2 wells and monitoring tech to store third-party industrial emissions, creating fee-based revenue separate from biofuel sales.
In 2025 the US 45Q tax credit offers up to $85/ton for stored CO2, so storing 100,000 tons/yr could add ~8.5M/year pre-tax, boosting recurring cash flow as capture markets scale.
- Uses existing wells + monitoring
- Decoupled from fuel margins
- Potential ~$85/ton 45Q credit (2025)
- Example: 100k t/yr → ~$8.5M/yr
Aemetis: Fuel sales + credits drive margins—LCFS $200, D3 $1.50, 45Q adds $8.5M
Aemetis sells ethanol, RNG, renewable diesel, and SAF plus credits (LCFS, RINs) and co‑products (DDGS, DCO); fuel sales drove ~85% of 2024 revenue with ~300M gal ethanol, credits added ~40–55% of gross margin (LCFS ~$200/credit, D3 RINs ~$1.50/gal), co‑products added ~25% of plant revenue, and potential 45Q CO2 credits (~$85/ton) could add ~$8.5M for 100k t/yr.
| Item | 2024/2025 |
|---|---|
| Ethanol volume | ~300M gal (2024) |
| Fuel revenue share | ~85% (2024) |
| LCFS price | ~$200/credit (2024) |
| D3 RIN | ~$1.50/gal (2024) |
| Co‑products | ~25% plant revenue (2024) |
| 45Q credit | ~$85/ton (2025); 100k t→$8.5M |