In California, Aemetis, a renewable natural gas and renewable fuels company, announced that its Universal Biofuels subsidiary in India has been awarded an initial $20 million of cost-plus contracts for delivery to government-owned oil companies during the third quarter.
The firm said that an initial 18,000 kiloliters of biodiesel of cost-plus biodiesel contracts for delivery during Q3 2023 have been awarded to Aemetis. Universal Biofuels completed approximately $34 million of second quarter shipments that were sold under cost-plus contracts with government-owned oil companies, though Q2 quarterly revenues will not reflect about $1.8 million of shipments in transit at the end of the quarter.
Eric McAfee, Chairman and CEO of Aemetis, said: “The timely delivery of the Q3 biodiesel tender by the three oil marketing companies and the timely award of initial volumes for Q3 delivery enables Universal Biofuels to maximize production volumes to meet India government biofuels blending goals.”
Built by Aemetis near the India port of Kakinada in Andhra Pradesh, the Universal Biofuels plant is the largest biodiesel production facility in India, the company said.
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