Aemetis Allocated $10.5 Million IRA Section 48C Tax Credits by DOE and IRS for Biofuels Plant Efficiency Projects
The Aemetis Five Year Plan projects that Aemetis will receive a total of $450 million of IRA tax credits to support funding of its renewable fuels projects.
- The Aemetis Five Year Plan projects that Aemetis will receive a total of $450 million of IRA tax credits to support funding of its renewable fuels projects.
- In October 2023, Aemetis completed the sale of $63 million of IRA tax credits to a single buyer and received $55 million in funding.
- Aemetis was awarded the $10.5 million allocation of transferable tax credits to support the Mechanical Vapor Recompression (MVR) energy efficiency project and other energy efficiency projects at the Aemetis Keyes ethanol production facility in California.
- The Section 48C tax credits are transferable from project developers to entities with income tax liabilities in order to provide funding to projects.