Aemetis India Begins Biodiesel Shipments to Oil Marketing Companies under $31 Million Allocation For the Next Three Months

Rhea-AI Summary

Aemetis (NASDAQ: AMTX) announced that its Indian subsidiary, Universal Biofuels, has begun shipping biodiesel to fulfill orders worth $31 million from government-owned Oil Marketing Companies (OMCs). The orders cover 33,000 kiloliters for delivery during May-July 2025.

The shipments support India's goal of increasing biodiesel blend from 1% to 5%, representing a potential market of 1.2 billion gallons. Universal Biofuels completed $112 million in biodiesel and glycerin shipments in the twelve months ended September 2024. The company recently expanded its annual production capacity from 60 million to 80 million gallons and plans further expansion and diversification into biogas production.

Universal Biofuels, one of India's largest biodiesel producers, is preparing for a planned Initial Public Offering (IPO), subject to favorable market conditions.

Positive

• Secured new orders worth $31 million for May-July 2025 deliveries
• Completed $112 million in biodiesel shipments in 12 months ending September 2024
• Increased production capacity from 60 million to 80 million gallons annually
• Operating under cost-plus contracts with government-owned companies
• Planned expansion into biogas production and new locations

Negative

• IPO plans dependent on favorable market conditions
• Currently operating at less than 1% biodiesel blend market penetration

CUPERTINO, Calif., April 24, 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, today began shipments to fulfill multiple orders for more than 33,000 kiloliters of biodiesel from the government-owned Oil Marketing Companies (OMCs) for an aggregate of $31 million for delivery during May, June, and July. 

Additional OMC orders are expected throughout the year to continue shipments to fuel blending terminals on an ongoing basis to support the India government goal of increasing from a 1% to 5% biodiesel blend. A 5% biodiesel blend is approximately 1.2 billion gallons, a significant increase from less than a 1% blend of biodiesel that is currently used in India.

“We are pleased with the expanded commitment to biofuels that is being shown by the India government, including the achievement of a 20% blend of ethanol and new goals including a 30% ethanol blend,” stated Eric McAfee, Chairman and CEO of Aemetis. “We began our biodiesel shipments today from inventory to quickly ramp up to $10 million per month of shipments and fulfill the $31 million of new orders from OMCs for biodiesel over the next three months. We have already made the capital investments that allow us to quickly increase production volumes as new orders are issued by the OMCs.”

Recently, India has stated plans for further growth in the use of biofuels, expanding revenues for farmers while reducing the importation of petroleum gasoline into India. India’s strong commitment to expanding biofuels markets supports the Aemetis India business plan for further expansion and a planned Initial Public Offering (IPO), 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. During a recent plant upgrade and maintenance period, Universal Biofuels expanded the production capacity of its proprietary process that produces biodiesel from waste and byproducts that Universal utilizes to produce biofuels that are lower carbon intensity at a significantly reduced cost.

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.

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.

Company Investor Relations
Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com

External Investor Relations
Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com

FAQ

What is the value of new biodiesel orders received by Aemetis (AMTX) for May-July 2025?

Aemetis received orders worth $31 million for 33,000 kiloliters of biodiesel from Indian government-owned Oil Marketing Companies.

How much did Aemetis' Universal Biofuels increase its production capacity in India?

Universal Biofuels increased its annual biodiesel production capacity from 60 million gallons to 80 million gallons.

What was Universal Biofuels' revenue from biodiesel and glycerin shipments in the year ending September 2024?

Universal Biofuels completed $112 million of biodiesel and glycerin shipments in the twelve months ended September 2024.

What is India's target for biodiesel blend percentage according to the Aemetis announcement?

India aims to increase its biodiesel blend from current 1% to 5%, representing approximately 1.2 billion gallons of biodiesel.

What are Aemetis' expansion plans for its Indian operations?

Aemetis plans to expand biodiesel operations to new locations, diversify into biogas production, and pursue an IPO subject to market conditions.