Aemetis India Plant Sets Production Record by Delivering 20 Million Liters of Biodiesel in 2019 to State-owned Oil Companies
Aemetis, Inc (AMTX)
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Source: GlobeNewswire
CUPERTINO, CA and HYDERABAD, INDIA, Oct. 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Aemetis, Inc. (NASDAQ: AMTX) announced today that its Universal Biofuels India subsidiary set a new production record by delivering more than 20 million liters of biodiesel to the three India government-owned Oil Marketing Companies under a supply contract issued to Aemetis in early 2019. The OMC contract provides for ongoing deliveries of biodiesel to a variety of blending locations in an aggregate amount of more than $23 million during 2019 for total shipments of 31 million liters. Biodiesel shipments to OMC’s began in May 2019 and are scheduled to continue into Q4 2019. The total diesel market in India is approximately 25 billion gallons per year with 80% from imported supplies, into which less than 250 million gallons per year of biodiesel is currently blended. The 2018 India National Biofuels Policy stated a plan to increase Biodiesel blending to 5% of the diesel market, equal to more
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