Universal Biofuels on schedule to deliver $27M of biodiesel to Indian OMCs

In India, Aemetis, Inc. announced that its Universal Biofuels subsidiary in India is on schedule with biodiesel shipments to the three government-owned Oil Marketing Company (OMC) customers with $27 million (80%) of the $34 million of second quarter contracted deliveries already completed.  The combined orders for Q2 2023 comprised about 8 million gallons of biodiesel and future volumes are expected to be increased as OMC procurement processes continue to improve.

As the largest producer of biodiesel in India, improvements in the OMC procurement process have enabled the Universal Biofuels 50 million gallon per year capacity plant to increase production.  Expanded biodiesel production supports the Indian government’s initial goal of a 1% biodiesel blend in the amount of about 250 million gallons per year, on the way to fulfilling the 5% blend (1.25 billion gallons per year) set forth in the 2022 National Biofuels Policy.