The three government-controlled oil marketing companies (OMCs) have selected Aemetis’s Indian subsidiary Universal Biofuels, which operates a biodiesel facility near the Port of Kakinada, to supply 8,500,000 gallons over the next three months.
70% of India’s 25 billion gallon diesel market is supplied by OMCs, while the remaining 30% is supplied by large non-government oil refineries.
Sanjeev Gupta, managing director of the Universal Biofuels subsidiary of Aemetis, stated, “We are pleased to see the Indian government’s commitment to the implementation of the 2022 National Biofuels Policy, and the OMC’s purchasing processes are resulting in a significantly increased demand for biodiesel in India.”
“The contracts’ product quality testing is complete, and biodiesel deliveries have begun for April, May, and June.”
Aemetis constructed the 50 million gallon-per-year biodiesel plant on India’s east coast to convert agricultural products and byproducts into high-quality biodiesel that can reduce air pollution while creating new agricultural and manufacturing employment in India.
The Aemetis Universal Biofuels facility in India produces high-quality biodiesel and has established itself as a reputable large-scale producer of renewable fuels.
As one of India’s largest domestic biodiesel producers, Aemetis Universal Biofuels is well positioned to increase production to satisfy the OMC’s tender offers’ large domestic demand.
To increase the domestic production and consumption of biodiesel, the 2022 amendment to the India National Policy on Biofuels established a minimal blend of 5% biodiesel by 2030.
The biofuels policy aims to improve the environment by reducing diesel-related air pollution and expand economic development by increasing domestic biodiesel feedstock production.
Biodiesel feedstocks include renewable oils that are byproducts of food production. Creating new markets for these byproducts can reduce the overall cost of food and benefit the environment.
Network Hype Team