NEW YORK, NY / ACCESSWIRE / March 7, 2018 / Shares of Aemetis and Amyris both saw gains on Tuesday with Aemetis scoring an impressive 65% close in the green. The company announced that it has completed the operation of a cellulosic ethanol integrated demonstration unit that produced record yields.
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Aemetis, Inc. shares closed up 65.09% on nearly 11 million shares traded yesterday. The stock exploded after the company announced yesterday that it has successfully built and operated an integrated demonstration unit for more than 120 days of continuous operations with 94% uptime. Trades were excited to learn that this meets the requirements for a federal USDA 9003 Biorefinery Assistance Program guaranteed loan. CEO Eric McAfee stated, "The completion of the successful operation of the demonstration unit is the final technology step in securing a USDA loan guarantee for the $158 million cellulosic ethanol plant Aemetis is building in Riverbank, California. We believe that the integration of these technologies, and the high yields generated by the unit, demonstrate that Aemetis can successfully produce high value cellulosic ethanol from the 1.6 million tons of waste orchard wood and other renewable feedstocks in the Central Valley. With plans to expand the Riverbank plant and construct additional plants, Aemetis plans to be a leader in supplying California's low carbon fuels mandates."
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Amyris, Inc. shares closed up 5.97% on Tuesday with around 378,000 shares traded. There was no remarkable news to explain the big boost in price. The integrated renewable products company is expected to report financial results for the fourth quarter and fiscal year ended December 31,2017, on March 15th after the close. The stock has seen impressive gains in the last several months, bouncing from an all-time low of $1.86. The company announced at the beginning of February that Aprinnova, its joint venture with NIKKOL GROUP, has launched pharmaceutical grade Neossance® Squalane USP. The new material meets the industry standards of the U.S. Pharmacopeia, and the National Formulary for drug actives and pharmaceutical excipients. Senior Vice President of Personal Care for the company, Caroline Hadfield, remarked, "We are very pleased to have met the USP and NF requirements, which showcases our adherence to a philosophy of manufacturing and distributing the highest performance, sustainable products through a best-in-class production process. We are delighted to provide a sustainable and naturally-sourced squalane to this important new market for Aprinnova while providing our customers and their end market customers with non-animal, cruelty-free high-performance ingredients for a growing variety of products."
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