2018 is proving to be quite the year for Aemetis Inc. (NASDAQ:AMTX). Based on today’s news, it doesn’t appear the biochemical and renewable fuel company plans on slowing down anytime soon, either.
What Happened Today For Aemetis Inc.?
On Tuesday, Aemetis Inc. disclosed that it has both successfully built and operated a combined demonstration unit for over 120 days of non-stop operations within 94% uptime. This is pretty significant news and its showing in the company’s current stock price. The markets still have a lot of life left in them, and yet, Aemetis is already seeing an increase of more than 80%.
So, why is this important news? Well, it all boils down to one simple fact: by successfully completing the operation of the cellulosic ethanol integrated demonstration unit, Aemetis Inc. has met the requirements for a federal USDA 9003 Biorefinery Assistance Program guaranteed loan. In fact, according to Eric McAfee, CEO of Aemetis, completing the operation was the “final technology step in securing a USDA loan guarantee for the $158 million cellulosic ethanol plant Aemetis is building in Riverbank, California.” The Riverbank plant is forecasted to commence operations next year.
The Stock
Now that we understand the significance of this announcement, are we really surprised to see the Cupertino, California-based company trading as high as it is? I’m certainly not. The stock is a trending ticker of the day, and I think that’s a title that is well deserved. Currently, Aemetis Inc. is trading at $1.17, which puts the AMTX stock up $0.53 or 82.06% on the Nasdaq exchange. The stock opened the trading day at $0.70.
The Takeaway
While today’s news is great for both the company’s reputation and its stock price, it’s definitely not the first piece of positive news Aemetis Inc. has received in 2018. In fact, it was only yesterday that Aemetis was named one of Biofuels Digest’s 50 hottest companies of the year. The week before that, Aemetis had McAfee present at the Advanced Bioeconomy Leadership Conference, which is a fantastic accomplishment for both the CEO and the company.
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For these reasons, I think it would be worth adding Aemetis Inc. to your investment watch-list, just in case the company continues to roll out the positive, innovative announcements.
Featured Image: twitter
