Aemetis Biogas Completes Construction Funding from $25 million USDA Loan for Aemetis Biogas 1 Dairy Digesters
CUPERTINO, CA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, announced today the deployment of the entire $25 million of funding provided under the previously announced USDA-guaranteed loan for its Aemetis Biogas 1 LLC (AB1) project company.
- Aemetis Biogas produces renewable natural gas (RNG) from dairy biomethane digesters located in California’s Central Valley.
- In addition to the USDA-guaranteed funding, Aemetis Biogas invested $30 million of project equity and has obtained $23 million of grants to date.
- The Aemetis AB1 loan was guaranteed by the USDA under the Renewable Energy for America (REAP) loan guarantee program that required monthly draws of funding for project construction.
- In the past year, $50 million of funding guaranteed by the USDA has closed to fund the Aemetis Biogas 1 and 2 project companies.