Aemetis (NASDAQ:AMTX) stock is powering up on Monday after the renewable energy company announced its new five-year plan to boost revenue.
Aemetis notes that it expects the company to reach revenue of $1.07 billion by the time 2025 comes to an end. Its plan for doing this is focused on its “California dairy Renewable Natural Gas and the Aemetis ‘Carbon Zero’ renewable jet/diesel plants.”
Starting with the Renewable Natural Gasplant, Aemetis says it expects its revenue to grow to $175 million in 2025. That’s compared to its estimated 2021 revenue of $9 million.
Moving on to the Carbon Zero renewable jet/diesel, the company is looking for revenue in 2025 to reach $467 million. Revenue from other parts of its business will also help in it reaching $1 billion by 2025.
Eric McAfee, chairman and CEO of Aemetis, said this about the plan boosting AMTX stock higher today.
“The $1 billion of revenues in year 2025 represents less than one percent of the addressable market for our negative carbon intensity RNG and renewable fuels, especially considering increasing demand for negative carbon intensity electricity from Renewable Natural Gas to power the expected rapid growth of electric vehicles with estimated -416 carbon intensity dairy RNG from our projects.”
Aemetis is gaining traction with investors today following its five-year plan news. As of this writing, more than 23 million shares of AMTX stock have changed hands. That’s quite the jump from its daily average trading volume of 3.89 million shares.
Investors that want to get a better idea of what AMTX is all about can follow this link for an overview of the company.
AMTX stock was up 53.8% as of Monday afternoon and is up 430.1% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.