New Group Headed by Chairman of Aemetis International
CUPERTINO, Calif. – April 29, 2015 – Aemetis, Inc. (NASDAQ: AMTX), an advanced renewable fuels and biochemicals company, today announced that Sanjeev Gupta, President of Aemetis International and Chairman of the Universal Biofuels subsidiary of Aemetis, has been appointed the Chairman and President of the newly-formed Biodiesel Manufacturers Association (BEMA) in India.
The BEMA group was launched as an eight-member association with a focus on expanding the biodiesel market in India, decreasing air pollution and reducing India’s dependence on foreign oil. The organization will serve to further the interests of biodiesel manufacturers by removing regulatory hurdles while educating India corporate and retail consumers about the environmental and cost benefits of biodiesel.
“With the deregulation of the diesel market in India and ending of diesel subsidies last October, India is a new frontier for Aemetis to grow in a large 25 billion gallon diesel market,” said Sanjeev Gupta, President of Aemetis International. “With the recent approval of direct sales to bulk customers, we have launched direct delivery of biodiesel to customers and are moving rapidly to expand production at our 50 million gallon per year capacity East Coast plant in Kakinada to supply the domestic India market,” added Gupta.
“Sanjeev’s chairmanship of the newly formed organization for biodiesel producers in India recognizes the leadership position held by our Univeral Biofuels subsidiary in one of the fastest growing biofuels markets in the world,” said Eric McAfee, Chairman and Chief Executive Officer of Aemetis. “Biodiesel is now a less expensive fuel than diesel in India, with the removal of the large diesel subsidy that had blocked sales of biodiesel in India until recently. The formation of BEMA is an important milestone expanding the biodiesel market in India to replace diesel with a healthier and lower cost alternative,” added McAfee.
Headquartered in Cupertino, California, Aemetis is an advanced renewable fuels and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products by the conversion of first-generation ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, Aemetis owns and operates a 60 million gallon per year ethanol production facility in the California Central Valley near Modesto. Aemetis also owns and operates a 50 million gallon per year renewable chemical and advanced fuel production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals. For additional information about Aemetis, please visit www.aemetis.com.
Safe Harbor Statement
This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements regarding our growth opportunities, our ability to grow and expand our business in India and into new markets, our ability to develop and commercialize new technologies and new products, expectations for growth in markets that we currently serve and in markets that we expect to expand into, the ability to support our growth and advantages provided by our technology. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “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 numerous 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 and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed or to be filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2014 and in our subsequent 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.