Aemetis, Inc. (NASDAQ: AMTX), a company focused on renewable natural gas (RNG) and renewable fuels with a commitment to low and negative carbon intensity, announced today that its RNG production saw a 55% increase in March compared to February. This boost in RNG production from anaerobic dairy digesters is typical during warmer weather, as improved temperatures enhance microbial activity, which converts organic material into biomethane. The company expects this higher production level to continue throughout the summer.
In addition, Aemetis Biogas completed the sale of LCFS (Low Carbon Fuel Standard) credits and D3 RINs (Renewable Identification Numbers) at the close of Q1. The LCFS credits were generated from RNG used as transportation fuel in Q4 2024 and were recorded in the California Air Resources Board (CARB) reporting process at the end of the first quarter of this year. Meanwhile, the D3 RINs were from RNG production and dispensing in February 2025.
Eric McAfee, chairman and CEO of Aemetis, stated, “Aemetis Biogas leverages animal waste to produce domestic energy, which is not affected by import/export tariffs. The 55% increase in RNG production in March is in line with our 2025 production plan, driving higher revenues from LCFS credits, D3 RINs, and Section 45Z sellable tax credits. We are also nearing the completion of digesters that will process waste from four additional dairies, expected to become operational in the coming months. This will support the sale of more investment tax credits and further boost RNG production and revenues.”
Aemetis Biogas is in the final stages of receiving Low Carbon Fuel Standard (LCFS) pathway approvals for seven dairy digesters from CARB, which are expected by the end of Q2. This approval could result in around $6 million in additional annual revenue from LCFS credits at current market prices.
CARB is also finalizing its November 2024 LCFS amendments, which are expected to significantly raise the mandated demand for LCFS credits. CARB recently published its proposed regulations for a 15-day comment period. The anticipated increase in LCFS credit prices, due to these new regulations, could result in up to 300% higher total LCFS revenue per MMBtu of RNG.
As Aemetis Biogas continues to expand production and revenue, it is building digesters and biogas pipelines to capture methane from 50 dairies that have signed agreements for the Central Dairy Digester Project in Modesto, California. Once completed, this project is projected to generate 1.65 million MMBtu of dairy RNG annually. Since California imports over 75% of the crude oil used to produce diesel, Aemetis’ RNG project aims to replace the diesel consumed by trucks driving 77 million miles per year with low-emission, locally produced RNG biofuel derived from domestic waste sources.
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