Aemetis (NASDAQ:AMTX) +4.5% in early trading Tuesday after saying its biogas subsidiary is operating the Central Dairy Project production facilities 24 hours/day, seven days/week, and exceeded its production plan for renewable natural gas by ~20% in Q2.
The company said its “seven dairy digesters, 40-mile biogas pipeline, centralized Biogas-to-RNG facility, and utility pipeline interconnection are operating 24×7 to deliver RNG for the displacement of petroleum-based fuels in trucks, buses, and cars.”
Aemetis (AMTX) also noted last week’s announcement by the U.S. Environmental Protection Agency of the Renewable Volume Obligation for years 2023, 2024 and 2025 significantly increased the mandate for the D3 Renewable Identification Numbers generated by renewable natural gas.
“Each MMBtu of dairy RNG generates 11.7 D3 RINs, and the Aemetis five-year plan expects 1 million MMBtu in year 2025,” Chairman and CEO Eric McAfee said, adding the price of D3 RINs has increased ~30% to $2.85 since last week’s announcement.
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