Aemetis signs multi-year biodiesel supply deal with BP Singapore
Aemetis, Inc. has announced that its Universal Biofuels subsidiary in India has signed a three-year biofuels supply agreement with BP Singapore Pte Ltd (BPS).
US-headed advanced renewable fuels and biochemicals company Aemetis Inc., has announced that its subsidiary, India-based Universal Biofuels has signed a three-year biofuels supply agreement with BP Singapore Pte Ltd (BPS), the regional trading arm of BP Plc, which has an expanding biofuels portfolio.
The agreement with Universal Biofuels gives us access to low-carbon biofuels, which is aligned with our strategy in transitioning to a lower carbon future. This deal bolsters our biofuels presence in Asia and other regions, said Paul Lantero, CEO for BP in Singapore.
The Aemetis plant in Kakinada, Andhra Pradesh has a capacity of 50 million US gallons (≈ 190 million litres) per annum and is the first and only India biofuels producer approved under the Low Carbon Fuel Standard for delivery of tallow and waste oil biodiesel into California.
The agreement sets forth the logistics, pricing and other terms of the supply to BPS of low carbon biodiesel. We expect production to commence this quarter and shipments to foreign markets to begin in the third quarter of 2017, stated Eric McAfee, Chairman and CEO of Aemetis.
In April 2017, Aemetis filed a patent on process technology developed at the Kakinada, India plant for the conversion of a wide range of waste feedstocks into biodiesel. Earlier this month it won a US$6 million biodiesel supply contract with India government-owned Oil Marketing Companies (OMC).