Universal Biofuels achieves record monthly biodiesel revenue as OMC contract shipments begin
In India, US-headed advanced biofuels producer and process developer Aemetis Inc., has announced that its Universal Biofuels India subsidiary achieved record domestic biodiesel revenues in May as shipments commenced under the previously announced US$23 million biodiesel supply contract to the three government-owned Oil Marketing Companies (OMC’s).
The Aemetis biodiesel plant in India recently completed the installation and commissioning of a pretreatment plant and related utilities upgrades to convert lower cost, waste feedstocks into high quality distilled biodiesel to supply the estimated 25 billion (US) gallon (≈ 94.6 billion litre) diesel market in India.
The supply arrangement has now resulted in a rapid ramp-up of biodiesel deliveries to about US$4 million for the month of May, which was the first month of shipments to OMC’s. The India business continues to expand its market reach by winning new customers in trucking, mining, and construction. We are also expanding the number of retail fueling stations in India that sell our clear, distilled, Universal Biofuels brand biodiesel, stated Eric McAfee, Chairman and CEO of Aemetis in a statement.