Aemetis' Universal Biofuels Secures $17 Million for Biodiesel Supply in India
Aemetis' subsidiary, Universal Biofuels, has secured $17 million for over 18 million liters of biodiesel delivery to India's OMCs. This initiative aligns with India's biodiesel blending target of 5% by 2030, highlighting investment in renewable energy sectors.
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Universal Biofuels, a subsidiary of Aemetis, Inc., has secured approximately $17 million for the supply of over 18 million liters of biodiesel to three government-owned Oil Marketing Companies (OMCs) in India over the next three months. The company has expanded its Kakinada plant's production capacity to about 80 million gallons (≈ 303 million liters) annually and is collaborating with the Indian government to enhance the biodiesel industry.
Additional orders from OMCs are expected by the end of 2026 to meet India's biodiesel blending goal of 5% by 2030. Universal Biofuels is also considering an Initial Public Offering (IPO) for minority equity stake sales on the Indian stock exchange, subject to market conditions. The rising crude oil prices reinforce the government's biodiesel targets, creating potential growth in the sector.
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