Aemetis (AMTX) said Tuesday that its ethanol and renewable natural gas facilities have been approved by the Internal Revenue Service for excise tax registration under the section 45Z production tax credit of the federal Inflation Reduction Act.
The company's Advanced Fuels Keyes and Biogas production facilities are now registered as clean transportation fuel producers, Aemetis said, adding that it completed the required registration by the July deadline, ensuring the units will qualify for the credit when it begins on Jan. 1.
The section 45Z PTC offers a transferable federal tax credit for producing fuels with lower greenhouse gas emissions than petroleum-based fuels, the company added.
Shares of Aemetis were down 2.1% in recent trading.
Price: 2.86, Change: -0.06, Percent Change: -2.09
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