Biofuel producer Aemetis has announced that its Indian subsidiary, Universal Biofuels India, has won a biodiesel supply contract with three government-owned oil marketing companies.
Awarded under a public tender process, the contract covers the ongoing supply of biodiesel to a number of locations, totalling no more than $23 million (€20.5 million) during 2019.
According to Aemetis, shipments of biodiesel are due to begin in May.
“With the recent completion of our plant pretreatment unit and expansion to 50 million gallons of capacity per year from low cost, high free fatty acid feedstock, the Aemetis team in India is executing on a rapid increase in production and revenues this year by broadening our customers to include government, logistics, mining, retail fuel stations and other sectors,” said Eric McAfee, chairman and CEO of Aemetis.
“As the only US company producing biofuels in India, Aemetis built and has now fully upgraded our India biodiesel and refined glycerin plant to use low cost feedstocks as a leader in this rapidly expanding market.”