Aemetis up on $53 mln sale of IRA tax credits

Aemetis

02/10/2023 15:22

** Shares of renewable natgas and fuel company Aemetis
 AMTX.O  rise ~14% to $4.76
    ** AMTX closes sale of $53 mln of Inflation Reduction Act
(IRA) investment tax credits generated by its unit Aemetis
Biogas
    ** Sale is the AMTX first IRA tax credit transaction
    ** Says additional $800 mln of IRA investment and production
tax credits expected in the next four years for its renewable
fuel projects
    ** IRA was signed into law in August 2022, and provides for
the issuance of transferable federal income tax credits for
certain renewable fuel projects and products
    ** AMTX shares up ~20% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))