In California, Aemetis closed the sale of $53 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary Aemetis Biogas LLC to a corporate purchaser on September 29, 2023. This sale is the company’s first IRA tax credit transaction. The Section 48 investment tax credits were generated from biogas projects built by Aemetis Biogas, including six diary digesters, a biogas pipeline and a renewable natural gas (RNG) production facility.
Aemetis Biogas is building anaerobic digesters at California dairies to capture biomethane from animal waste. Aemetis has seven operating digesters and is actively growing with an additional five digesters under construction and a total of the 37 dairies under contract to supply animal waste. After removal of contaminants and pressurization of gas at the dairy, a biogas pipeline connects the dairies to a centralized facility located at the Aemetis Keyes ethanol plant where the biogas is upgraded into below zero carbon intensity RNG. The RNG is injected into PG&E’s natural gas pipeline for delivery to transportation fuel customers in California.
