Aemetis up after announcing USCIS approval of $200 mln investment

Aemetis

21/03/2024 14:22

** Shares of renewable natgas and fuel company Aemetis Inc
 AMTX.O  rise ~21% to $4.45
    ** Company announces approval by U.S. Citizenship and
Immigration Services (USCIS) of $200 mln investment via EB-5 in
biogas, sustainable aviation fuel (SAF) and carbon sequestration
projects
    ** USCIS found co's two projects in California are located
within high unemployment areas
    ** "This $200 million of funding provides attractive terms
at a low interest rate to fund our projects, including the dairy
renewable natural gas project and the sustainable aviation fuel
plant to meet rapidly increasing global demand for SAF from
airlines," - Aemetis CEO Eric McAfee
    ** Co says it has already secured over $3 bln of contracts
to supply airlines with SAF
    ** EB-5 immigrant investor program allows foreign investors
to seek permanent U.S. residency
    ** Including session's gains, AMTX down ~16% YTD

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))