Aemetis' India Unit Starts Biodiesel Deliveries Under $17M Allocation from State Fuel Marketers
AI Market Summary
Aemetis' India unit secured allocations from three state oil marketing companies to deliver over 18 million liters of biodiesel, implying about $17 million in revenue and advancing India's biofuel blending objectives toward a 5% biodiesel target by 2030. The news signals incremental policy-driven demand growth for biodiesel, with limited near-term impact on broader energy markets but some relevance for petroleum product substitution dynamics.
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Aemetis' Indian subsidiary, Universal Biofuels, has begun delivering biodiesel after receiving supply allocations totaling more than 18 million liters from India's three state-owned oil marketing companies (OMCs). The company expects the volumes to generate about $17 million in revenue.
The award supports India's National Biofuel Policy, which targets raising the national biodiesel blending rate from the current 1% to 5% by 2030.
Aemetis operates a refinery on India's east coast with annual capacity of 80 million gallons of renewable biodiesel and glycerin.
