Aemetis’ Indian subsidiary wins $23 million biodiesel supply contract

In India, Aemetis, Inc. announced that its Universal Biofuels India subsidiary has been awarded a biodiesel supply contract with the three India government-owned Oil Marketing Companies in a public tender process.  The contract provides for ongoing deliveries of biodiesel to a variety of blending locations in an aggregate amount of more than $23 million during 2019.  Biodiesel shipments are scheduled to begin this month.

The total diesel market in India is approximately 25 billion gallons per year with 80% imported, of which less than 250 million gallons per year of biodiesel is currently blended.  The 2018 National Biofuels Policy stated a plan to increase Biodiesel blending to 5% of the diesel market, equal to more than 1.2 billion gallons per year. The OMC’s in India supply about 70% of the fuel consumed in India, and the diesel fuel market has been growing at a rate of more than 5% per year.