Industrial bio-tech firm Aemetis jumps after completing environmental review - InvestingChannel

Industrial bio-tech firm Aemetis jumps after completing environmental review

Aemetis (AMTX), an advanced renewable fuels and biochemicals company, disclosed earlier that the company achieved a major milestone by completing the key federal and state agency permitting and environmental approvals for construction of the cellulosic ethanol plant in Riverbank, California. Aemetis has received its Finding of No Significant Impact under the National Environmental Policy Act. This approval further confirms the previously received California Environmental Quality Act approval. CEO COMMENT: “Receiving both CEQA and FONSI approvals are the key permitting milestones for federal loan programs at this scale, including the pending $125M USDA 9003 loan guarantee,” said Aemetis CEO Eric McAfee. He added, “After signing a 55 year lease agreement at the Riverbank site in February 2017, Aemetis began the process of obtaining CEQA approval, a requirement for any construction activities in California. We believe that approval under the strict CEQA environmental review process reflects positively on the environmental attributes of the Riverbank plant.” PRICE ACTION: Shares of Aemetis are up 11.4% to $2.16 per share in afternoon trading, off earlier highs of $2.49 per share earlier in the session.

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