search icon
      blog search icon

      Aemetis (AMTX) Stock Price Sees Recovery After-Hours

      By Fahim Awan

      Published on

      June 4, 2024

      9:21 AM UTC

      Aemetis (AMTX) Stock Price Sees Recovery After-Hours

      Shares of Aemetis, Inc. (NASDAQ: AMTX) exhibited a notable turnaround during Monday’s extended trading session. After closing the regular session down 5.22% at $3.27, AMTX stock surged 7.03% in after-hours trading, reaching $3.50. This price recovery comes amidst a lack of significant recent news announcements, suggesting potential underlying developments as the driving force behind the after-hours rise.

      Aemetis Completes AI-Powered Solar Microgrid Project

      At its Keyes ethanol facility, Aemetis (AMTX) has completed the construction of a sophisticated 3-megawatt solar microgrid, worth $12 million. This cutting-edge device combines an artificial intelligence (AI) energy management system with battery storage.

      As the project developer, TotalEnergies provided the photovoltaic solar technology and managed the building and commissioning of the project. The required electrical and battery storage equipment was provided by Schneider Electric. Interestingly, the entire AI-enabled solar microgrid and battery storage system is owned and operated entirely by Aemetis.

      Using Solar Energy To Provide Renewable Energy Options

      The newly installed solar array and battery storage system aim to significantly reduce the Keyes plant’s reliance on grid-supplied electricity during peak-cost periods, typically occurring in the late afternoon and early evening. This objective will be achieved by capturing and storing solar energy generated during midday within the battery storage system.

      Subsequently, during peak hours, the stored solar energy will be released from the battery system to power the plant’s operations. This large-scale integrated solar and battery storage system signifies a crucial step towards transitioning the Keyes ethanol plant from petroleum-derived natural gas to renewable electricity.

      Aemetis expressed gratitude for the funding support provided by the California Energy Commission, alongside their appreciation for the successful working relationship established with TotalEnergies throughout the design, construction, and commissioning phases of the project.

      AI-Driven Green Solutions: An Ecological Promise

      This recently installed system is a powerful example of Aemetis’ dedication to providing state-of-the-art green energy solutions. It seamlessly integrates solar energy generation, battery storage, and AI-powered management software. The system’s goal is to produce the most energy at the lowest possible cost. The California Energy Commission’s $8 million grant significantly bolstered the construction of the solar array, battery storage, and AI energy management system at the Keyes plant.

      More From Stocks telegraph