Aemetis India Completes $103M Of Biodiesel Deliveries To Oil Marketing Companies In 2024 And Receives Initial $58M Allocation

Multiple Tenders From OMCs Expected Again for 2025 Biodiesel Supply on Cost-plus Basis

CUPERTINO, CA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ:AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products, today announced that the Universal Biofuels subsidiary of Aemetis in India successfully completed delivery of $103 million of biodiesel to the three government-owned Oil Marketing Companies (OMCs) under cost-plus supply agreements for the one-year marketing period ending September 30, 2024.

Aemetis recently received an initial $58 million of new allocations from OMCs for biodiesel supply in the current marketing year ending September 30, 2025, and has been producing biodiesel for deliveries scheduled to begin this month. The first allocation of biodiesel deliveries for the current year was issued by the OMCs in late November 2024 and the pricing for the deliveries will be based on a cost-plus pricing formula. Multiple tenders were issued by OMCs during the last supply year ending September 30, 2024, and multiple tenders are expected again in the current year.

During a recent biodiesel plant upgrade and maintenance cycle, Universal Biofuels significantly expanded the production capacity of its proprietary process that produces biodiesel from waste and byproducts that Universal utilizes to produce biofuels that are lower carbon intensity and have a significantly reduced cost.