In California, Aemetis said that biodiesel produced by its Aemetis subsidiary in India has begun to be sold at retail outlets owned by one of the three major India Government oil marketing companies. The India government OMC’s supply more than 95% of the gasoline, diesel and jet fuel in India. Beginning in August 2015, Government of India controlled OMCs have issued tenders to purchase up to 225 million gallons per year of biodiesel as an important step toward implementing a 5% biodiesel blend policy. The total available biodiesel market in India from a 5% biodiesel blend is 1.25 billion gallons. The current biodiesel production capacity in India is approximately 250 million gallons.
Aemetis has expanded its sales activity in India since the Government of India recently allowed biodiesel manufacturers to sell to bulk customers directly, without distributing through the government-owned OMC’s. The India diesel market is currently estimated at 25 billion gallons per year. Aemetis owns and operates a biodiesel production facility with a capacity of approximately 50 million gallons per year (190 million liters) near Kakinada, located on the East Coast of India.
“We are very pleased that the Government of India’s largest OMC’s are now distributing biodiesel through retail outlets to improve the country’s air quality and to reduce oil import expenditures,” said Eric McAfee, Chairman and Chief Executive Officer of Aemetis. “Our distilled biodiesel is comprised of 99.8% pure biofuel, with extremely low sulphur content and about 80% decreased particulate emissions compared to the diesel typically used in India.”