Aemetis Inc (NASDAQ: AMTX) is likely to have an overwhelmingly strong day in the market today, and for good reason. In a press release issued just minutes ago, the company announced permitting news that’s likely to lead to excitement among investors. Today, we’ll talk about the news and what we’ll be watching for with regard to AMTX ahead.
AMTX Announces Completion Of Permitting Milestone
As mentioned above, Aemetis is likely to have an overwhelmingly strong day int he market today after announcing the completion of a key milestone. In a press release issued just minutes ago, the company announced that it has achieved a major milestone by completing key federal and state agency permitting and environmental approvals. In the release, the company said that the permit approvals surround the construction of the 12 million gallon-per-year cellulose ethanol plant.
In the release, AMTX said that it has received its finding of No Significant Impact, or FONSI, under the National Environmental Policy Act, or NEPA. This is an important milestone because it further cements the company’s pending $125 million USDA 9003 loan guarantee. In a statement, Eric McAfee, Chairman and CEO at AMTX, had the following to offer:
Receiving both CEQA and FONSI approvals are the key permitting milestones for the federal loan programs at this scale, including the pending $125 million USDA 9003 loan guarantee.
At the end of the day, this is overwhelmingly positive news. Not only does this news bring the company one step closer to the 12 million gallon-per-year plant in Riverbank, it also brings the company closer to getting its hands on a $125 million loan.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to follow AMTX closely. In particular, we’re interested in following any news surrounding the build out of the 12 million gallon-per-year cellulose ethanol plant in Riverbank, California. We’re also interested in following the news surrounding the pending $125 million USDA loan guarantee. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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