Aemetis India records $4M monthly domestic biodiesel revenue
June 13, 2019
By Aemetis Inc.
Aemetis, Inc. announced today that its Universal Biofuels India subsidiary achieved record domestic biodiesel revenues in May as shipments commenced under the previously announced $23 million biodiesel supply contract to the three government-owned Oil Marketing Companies (OMC’s).
“The supply arrangement announced in March has now resulted in a rapid ramp-up of biodiesel deliveries to about $4 million for the month of May, which was the first month of shipments to OMC’s,” stated Eric McAfee, Chairman and CEO of Aemetis. “The India business continues to expand its market reach by winning new customers in trucking, mining and construction. We are also expanding the number of retail fueling stations in India that sell our clear, distilled, Universal Biofuels brand biodiesel.”
The Aemetis biodiesel plant in India recently completed the installation and commissioning of a pretreatment plant and related utilities upgrades to convert lower cost, waste feedstocks into high quality distilled biodiesel to supply the approximately 25 billion gallon diesel market in India.
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