Aemetis subsidiary licensed for production and sale of pharmaceutical grade glycerin
CUPERTINO, Calif. – March 19, 2012 – Aemetis, Inc. (OTCPK: AMTX), an industrial biotechnology company producing renewable chemicals and advanced fuels, announced today that Universal Biofuels Pvt. Ltd. (UBPL), a subsidiary of Aemetis, has received a five-year Pharmacopoeia license to expand its current refined glycerin production to manufacture pharmaceutical grade glycerin at its approximately 15,000 metric tons per year processing facility in Kakinada, India.
Currently, UBPL is selling its refined glycerin into domestic industrial chemical markets at the U.S. dollar equivalent of approximately $800 per metric ton. The five-year license to manufacture pharmaceutical grade glycerin enables UBPL to expand into additional Indian industrial markets, including the large generic and branded pharmaceutical and personal care industries.
“With the ability to manufacture, sell and distribute pharmaceutical-grade glycerin, we are increasingly well positioned to provide glycerin, natural oils, and renewable fuels to a diverse range of industries and sectors with our products,” said Sanjeev Gupta, chairman and managing director of Universal Biofuels. “By investing in additional technology at our facility, our bio-refinery can quickly adapt to changing customer requirements and address both well-established and emerging markets.”