Universal Biofuels to supply 8M gallons of biodiesel to Indian OMCs

In India, Aemetis, Inc. announced that its Universal Biofuels subsidiary in India, owner and operator of a biodiesel plant located near the Port of Kakinada on India’s east coast, was selected by the three government-controlled oil marketing companies (OMCs) and a major oil refiner to supply approximately 8,000,000 gallons of biodiesel over the next two months.  The combined revenues from the shipments are expected to be about $41 million and are scheduled to require the Aemetis biodiesel/glycerin production plant to operate near 100% capacity.

About 70% of the diesel and gasoline in India is supplied by the OMCs, with the remaining fuel supplied by large non-government refineries.  This volume of biodiesel to be supplied by Aemetis is expected to continue to occur in two-month bidding tenders on an ongoing basis to meet the requirements of the recently updated India National Biofuels Policy.