Aemetis Secures $31 Million in Biodiesel Orders for India’s Blending Push
(P&GJ) — Aemetis Inc., a global producer of renewable natural gas and biofuels, announced that its India-based subsidiary, Universal Biofuels, has received $31 million in biodiesel orders from India’s three government-owned Oil Marketing Companies (OMCs). The deliveries, totaling over 33,000 kiloliters, are scheduled for May through July.
The contracts support India’s goal of increasing its biodiesel blending rate from 1% to 5%. Additional orders are expected later this year to sustain ongoing shipments to fuel blending terminals.
“Universal Biofuels and other biodiesel producers look forward to continuous support from the government of India to ensure that climate issues are addressed, while ensuring a healthy biodiesel industry,” said Sanjeev Duggal, CEO of Universal Biofuels.
“The OMCs did not take deliveries during this past winter and instead decided to issue new orders for biodiesel with deliveries from May to July,” added Eric McAfee, Chairman and CEO of Aemetis. “Our Universal Biofuels subsidiary has successfully completed deliveries under contracts with the OMCs for the past several years, highlighting our track record for producing and timely delivering high quality renewable fuels at our India plant.”
India recently achieved a 20% ethanol blend in gasoline and announced plans to raise that to 30%, with similar blending goals for biodiesel. These initiatives are part of broader efforts to reduce petroleum imports and expand revenues for farmers.
To support demand, Universal Biofuels expanded capacity at its Kakinada biodiesel plant from 50 million to 80 million gallons per year. The upgrade included enhancements to its proprietary technology that converts waste and byproducts into low-carbon biodiesel at reduced costs.
Universal Biofuels, operating in India for over 17 years, completed $112 million in biodiesel and glycerine shipments during the 12 months ending September 2024. Additional expansion into biogas production and other locations is planned for 2025. The company is also preparing for a potential IPO in India by late 2025, subject to market conditions.
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