Aemetis, Inc · NASDAQ:AMTX
Aemetis — Investor Presentation (September 2016)
29 slides from Aemetis's investor presentation, September 2016
Slide 1: The Aemetis Biorefinery
The Aemetis Biorefinery (NASDAQ: AMTX) Advanced Biofuels September 2016
Slide 2: Disclaimer
Disclaimer Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or event
Slide 3: Aemetis Mission
Aemetis Mission Aemetis is an international renewable fuels and biochemicals company using patented industrial biotechnology for the conversion of first- generation ethanol and biodiesel plants into advanced biorefineries Traditional Corn Ethanol and Advanced Biofuels Non-Food, Low Carbon, Less Vege
Slide 4: Aemetis Overview
Aemetis Overview Founded in 2006 by biofuels industry veteran (co-founder Pacific Ethanol and EPM) $147 million revenue for 2015 Own/operate 60 million gallon Ethanol plant in California - Largest biofuels refinery in California Own/operate 50 million gallon Distilled Biodiesel and Glycerin
Slide 5: Management and Board of Directors
Management and Board of Directors Harold Sorgenti - Former President/CEO of ARCO Chemical Company (12 years including IPO) Board of John Block - Former Secretary of Agriculture from 1981-86 under President Reagan Directors Fran Barton - Former CFO of five high tech companies with revenues above $1 b
Slide 6: Industry Overview
Industry Overview a ~~
Slide 7: The Increasing Renewable Fuel Standard Mandate
The Increasing Renewable Fuel Standard Mandate In order to meet the federal Renewable Fuel Standard, obligated parties are required to blend ethanol and biodiesel in increasing quantities each year “Conventional Biofuels” must reduce greenhouse gas emissions by 20% relative to gasoline or diesel a
Slide 8: India Biodiesel Market Size and Diesel Consumption by Market Segment
India Biodiesel Market Size and Diesel Consumption by Market Segment • India diesel market size is about 25 billion gallons, 5x bigger than gasoline market • $10 billion diesel subsidy was eliminated in October 2014 • India diesel consumption is 70% transport and 30% non-transport • India has 13 of
Slide 9: India Biodiesel Market Expands after Ending Large Diesel Subsidies
India Biodiesel Market Expands after Ending Large Diesel Subsidies In October 2014, the India government eliminated about $10 billion of annual subsidies for diesel and other fuels, increasing the price of diesel and biodiesel in India to world market prices In January 2015, the India government
Slide 10: Low Carbon Fuel Standard – Biofuels Lead Carbon Reduction in California
Low Carbon Fuel Standard – Biofuels Lead Carbon Reduction in California Source: California Air Resource Board. “Low Carbon Fuel Standard Re- Adoption: Fuel Availability.” Sep, 25th 2014.
Slide 11: California Low Carbon Fuel Standard (LCFS) Created Large Market
California Low Carbon Fuel Standard (LCFS) Created Large Market Aemetis Ethanol and Biodiesel plants approved for LCFS pathways in January 2016 − India biodiesel plant was approved for low carbon fuel standard (LCFS) pathway in California for Used Cooking Oil and Tallow feedstock, and receives $1/
Slide 12: Business Overview
Business Overview a ~~
Slide 13: Roadmap for Product Revenues
3 to 5 year Roadmap for Product Revenues Current Future Volume Target Ethanol 90-95% 10-20% 100 mgy Improve margins by Cellulosic Ethanol addition Biodiesel 5-10% 25-35% 100 mgy Improve margins by deploying enzymatic process Renewable Jet 0% 45-65% 200 mgy and Diesel Aemetis is reducing ethanol indu
Slide 14: Growth Strategy: Three Major Renewable Fuel Markets
Growth Strategy: Three Major Renewable Fuel Markets Ethanol Plants Biodiesel Plants Jet/Diesel Plants • Steam Turbine (CHP) • Distilled Biodiesel • ChevronLummus/ARA • Advanced Clean-In-Place • Refined Glycerin global technology license • Liquid CO2/Dry Ice for 100% replacement, renewable jet/diesel
Slide 15: California Ethanol Plant
California Ethanol Plant 15
Slide 16: India Biodiesel and Glycerin Plant
India Biodiesel and Glycerin Plant 16
Slide 17: New Markets Overview
New Markets Overview 17
Slide 18: Intellectual Property
Intellectual Property Aemetis operates an R&D lab in Maryland and holds ten granted biofuels technology patents 9 Exclusive Licenses Licensed Ten awarded patents on enzyme and Edeniq microbe technology: − 2.5% Cellulosic Ethanol from the existing − Exclusive license to patented microbes to corn
Slide 19: Edeniq Background
Edeniq Background Founded in 2008, Edeniq received $100 million of funding to develop a patented milling and enzyme technology, increasing starch ethanol production by up to 4% and cellulosic ethanol production of 2.5% from existing corn kernel fiber Economic benefits from Edeniq Process Five Year
Slide 20: Edeniq Product Platform
Edeniq Product Platform Up to 7% ethanol production increase at first generation plants Integrated platform of feedstock “shearing” and cellulose enzymes Substantially lower capex relative to competitors EPA-approved cellulosic ethanol production up to 2.5% from corn fiber Starch ethanol pro
Slide 21: Edeniq Core Product: Cellunator
Edeniq Core Product: Cellunator Patented High-Shear Mechanical Pretreatment of Cellulosic Fiber Edeniq has been operating Cellunators at US plants for more than 5 years Cellunator pretreats biomass, increasing ethanol and oil yields at ethanol plants Core component of low-capex and low-cost ce
Slide 22: LanzaTech Technology: Biomass/MSW to Syngas to Cellulosic Ethanol
LanzaTech Technology: Biomass/MSW to Syngas to Cellulosic Ethanol Feedstock Gasification LanzaTech Fermentation Biomass • Almond Wood • Dairy Waste Ethanol Plant Integration • MSW • Lanzatech, founded in 2005, raised more than $200 million • 250 patents pending • Six pilot plants all over the world
Slide 23: Aemetis Biorefinery: CH Jet/Diesel Technology Benefits
Aemetis Biorefinery: CH Jet/Diesel Technology Benefits ARA’s CH technology uses water as catalyst to convert vegetable and animal oils (triglycerides, esters, fatty acids) directly into hydrocarbons − Same hydrocarbon types as petroleum – distributed over entire boiling range Chevron Lummus Glob
Slide 24: Financial Overview
Financial Overview 24
Slide 25: Aemetis Financial Performance
Aemetis Financial Performance ($ in thousands) 2011 2012 2013 2014 2015 0 $0 $0 $0 $0 $0 Income Statement Revenues $141,858 $189,048 $177,514 $207,683 $146,649 Cost of Goods Sold 137,216 197,975 159,220 170,539 142,450 Gross Profit / (Loss) $4,642 ($8,927) $18,294 $37,144 $4,199 Expenses SG&A $8,571
Slide 26: Long Term Industry Model (LTIM)
Long Term Industry Model (LTIM) Results LTIM 2014 2015 Revenue ($ in millions) 100% $208 $147 Gross Margin 20-25% 18% 3% Operating Income 15-20% 12% 0% First generation ethanol in the U.S. is a maturing market generating cash flow to fund debt reduction and company growth Aemetis is launching higher
Slide 27: EB-5 Summary: $36 million of Sub-debt Funding at 3% Interest
EB-5 Summary: $36 million of Sub-debt Funding at 3% Interest Aemetis signed investors for $36 million of EB-5 sub-debt financing at 3% interest rate − Congress created the EB-5 program in 1990 to benefit the U.S. economy by attracting investments from qualified foreign investors through the US Custo
Slide 28: Investment Summary – Aemetis
Investment Summary – Aemetis (Nasdaq: AMTX) Strong Long-term Demand for Biofuels Plants Strategically Located to Serve Large Markets Substantial Upside from Next Generation Technology Experienced Management Team 28
Slide 29: www.aemetis.com
w) AEMETIS www.aemetis.com a