In California, Aemetis announced that the Universal Biofuels subsidiary of Aemetis in India successfully completed delivery of $103 million of biodiesel to the three government-owned Oil Marketing Companies (OMCs) under cost-plus supply agreements for the one-year marketing period ending September 30, 2024.
Aemetis recently received an initial $58 million of new allocations from OMCs for biodiesel supply in the current marketing year ending September 30, 2025, and has been producing biodiesel for deliveries scheduled to begin this month.
During a recent biodiesel plant upgrade and maintenance cycle, Universal Biofuels significantly expanded the production capacity of its proprietary process that produces biodiesel from waste and byproducts that Universal utilizes to produce biofuels that are lower carbon intensity and have a significantly reduced cost, Aemetis said.
“Universal Biofuels has now successfully completed deliveries under the third set of cost-plus contracts with OMCs, highlighting our track record for producing high quality renewable fuels to support the India National Biofuels Policy goal of a 5% blend of biodiesel,” stated Eric McAfee, Chairman and CEO of Aemetis. “The recent capacity expansion of our proprietary biodiesel production process increases our profitability per gallon and supports the IPO process for Universal Biofuels that is currently under way.”
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Tags: Aemetis, biodiesel, California
Category: Fuels
