September 27, 2026. Aemetis, Inc., a diversified renewable natural gas and biofuels company, has received $22.4 million from the sale of Section 45Z Clean Fuel Production Tax Credits.
The Section 45Z tax credits were generated from ethanol and renewable natural gas (RNG) production in 2026 and represent a tax credit value of approximately $0.33 per gallon of ethanol and $62 per MMBtu of RNG, before sale discounts and transaction costs. The tax credit value is based on the recent update to the 45ZCF-GREET model that was issued by the U.S. Department of Energy (DOE) on September 8, 2026.
“Aemetis continues to benefit from Section 45Z Clean Fuel Production Tax Credits as a recurring source of cash flow, executing on our monetization strategy,” said Eric McAfee, Chairman and CEO of Aemetis. “With recent updates this month to the Section 45Z calculation and expected expansion of production volumes and energy efficiency projects, the ongoing value of Section 45Z credits to Aemetis is expected to continue to grow significantly.”
The new September 8 version of the 45ZCF-GREET model includes updated pathways for RNG produced from dairy manure anaerobic digestion as required by the One Big Beautiful Bill Act. It also now allows ethanol producers to account for low-carbon corn feedstock that is grown with regenerative agricultural practices. Aemetis expects to increase the value per gallon of its ethanol Section 45Z credit once the use of low-carbon corn is fully documented.
“We appreciate the work by Treasury, the IRS, DOE, and USDA to release the update to the 45ZCF-GREET calculations in compliance with the July 2025 One Big Beautiful Bill Act,” added McAfee. “These supportive biofuels and agriculture policies share the monetary benefits of 45Z with farmers and dairies. We also urge Treasury and DOE to continue supporting Section 45Z by allowing the qualification of all emissions captured from expanding dairy and farm operations.”