In California, Aemetis announced that its Universal Biofuels subsidiary in India, owner and operator of a 60 million gallon per year capacity biodiesel plant located near the Port of Kakinada on the East Coast of India, was selected by India’s three government-controlled oil marketing companies (OMCs) to supply an estimated $150 million of biodiesel under cost-plus purchase contracts for approximately 40 million gallons of biodiesel during the one year period starting October 2023.
“During the recent G20 meeting, Prime Minister Modi of India launched the Global Biofuel Alliance and demonstrated leadership in encouraging renewable fuels pledges by the international community,” said Eric McAfee, Chairman and CEO of Aemetis. “Since last year, the new policies have increased the demand for biodiesel in India, and more than one billion gallons per year of new production are needed to meet the 5% goal. Aemetis plans to continue to expand capacity to meet growing demand under the OMC cost-plus contract structure.”
Aemetis said it had built the 60 million gallon per year capacity biodiesel plant on the East Coast of India to convert agricultural products and byproducts into biodiesel.
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