CUPERTINO, CA – May 25, 2017 – Aemetis, Inc. (NASDAQ: AMTX) announced today that its Universal Biofuels subsidiary in India has signed a three-year biofuels supply agreement with BP Singapore Pte Limited (BPS), the regional trading arm of BP Plc, which has an expanding biofuels portfolio.
“The agreement sets forth the logistics, pricing and other terms of the supply to BPS of low carbon biodiesel,” stated Eric McAfee, Chairman and CEO of Aemetis. “We expect production to commence this quarter and shipments to foreign markets to begin in the third quarter of 2017.”
“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,” said Paul Lantero, Chief Operating Officer for BP in Singapore. “This deal bolsters our biofuels presence in Asia and other regions.”
The Aemetis plant in Kakinada, Andhra Pradesh has a capacity of 50 million gallons per year 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. 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.