In California, Aemetis announced that biodiesel sales activity is accelerating in India with travel bus operators who cater to the tourism industry.
Aemetis has expanded sales activity since the Government of India allowed biodiesel manufacturers such as Aemetis to sell to customers directly. The India diesel market is estimated at 25 billion gallons per year, which is significantly larger than the gasoline market of 5 billion gallons per year.
“We have recently begun deliveries to travel bus operators in Southern and Western India,” said Sanjeev Gupta, Managing Director of the Universal Biofuels subsidiary of Aemetis. “The travel and tourism industry contributed about 6.2% of India’s GDP in 2013 and is forecasted to rise by 7% per year through 2024. The travel and tourism industry supports about 22 million jobs and helps India generate meaningful foreign exchange reserves.”
Aemetis owns and operates biodiesel production capacity of about 50 million gallons per year (190 million liters) at the Kakinada facility located on the East Coast of India. At full production, the revenue potential from this refinery is approximately $180 million per year. After the recent deregulation of diesel prices and market access, Aemetis expanded its sales team, selling to customers including the Indian railways, bus and truck fleets, taxis and diesel generators.
