Aemetis India Plant Wins $23 Million Biodiesel Supply Contract with India State-Owned Oil Companies
Aemetis, Inc (AMTX)
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Source: GlobeNewswire
CUPERTINO, CA and HYDERABAD, INDIA, May 06, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Aemetis, Inc. (NASDAQ: AMTX) announced today that its Universal Biofuels India subsidiary has been awarded[WC1] a biodiesel supply contract with the three India government-owned Oil Marketing Companies in a public tender process. The contract provides for ongoing deliveries of biodiesel to a variety of blending locations in an aggregate amount of more than $23 million during 2019. Biodiesel shipments are scheduled to begin this month. The total diesel market in India is approximately 25 billion gallons per year with 80% imported, of which less than 250 million gallons per year of biodiesel is currently blended. The 2018 National Biofuels Policy stated a plan to increase Biodiesel blending to 5% of the diesel market, equal to more than 1.2 billion gallons per year. The OMC’s in India supply about 70% of the fuel consumed in India, and the diesel fuel market has been growing at a rate of more th
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- 11/12/24 - Beat
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