CUPERTINO, Calif., April 23, 2025 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ:AMTX), a diversified global renewable natural gas and biofuels company, announced the Company's subsidiary in India, Universal Biofuels, has been working with the U.S. government to support the success of American interests in India. Aemetis owns and operates an 80 million gallon per year biodiesel production facility in Kakinada, Andhra Pradesh. The U.S. Consul General, Jennifer Larson, recently toured the Universal biodiesel plant along with staff from the consulate to further the collaboration with Aemetis.
India is committed to the production and use of biofuels to expand markets for agricultural products and to utilize waste materials to improve air quality. The target set in the India National Policy on Biofuels is an increase in the blend of biodiesel from 1% to 5%. The meeting and plant tour by Jennifer Larson, the U.S. Consul General based in Hyderabad, India, focused on understanding the implications of India biofuels policies to expand the production of renewable fuels by Universal Biofuels.
"Diesel engine emissions are a significant contributor to air pollution and a cause of significant public health problems in India," said Eric McAfee, Chairman and CEO of Aemetis. "The Universal Biofuels facility in India has invested in the expansion of production capacity to meet India's goal of a 5% biodiesel blend and facilitate the reduction of air pollution from diesel engine exhaust. The visit by the Consul General is representative of the level of engagement by all parties to generate the many benefits of renewable fuels in India."
"The adoption of new policies in India that facilitate access to feedstocks supports our plans to raise the capital and invest the resources into growing our production capacity," said Sanjeev Duggal, CEO of Universal Biofuels. "We look forward to continuing the work with the consulate and view the visit by Ms. Larson as a critical step forward that is an important sign of support for our business."
Aemetis' Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased its annual biodiesel production capacity from 60 million gallons to 80 million gallons in the past year, with further biodiesel expansion to other locations and diversification into biogas production planned during the next twelve months. To support further growth, Universal Biofuels is preparing for an IPO in India, aiming for completion in late 2025 or the first half of 2026, subject to continued favorable stock market conditions.
Universal Biofuels completed $112 million of biodiesel and glycerin shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. Shipments of biodiesel to OMCs are expected to begin again this month under the next round of biodiesel contracts.
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.
Safe Harbor Statement
This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; IPO plans; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market prices and results of government actions. Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets," "view," "will likely result," "will continue" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.
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