By Aemetis Inc. | July 12, 2023
![SOURCE: Aemetis Inc.<br><small></small>](https://biodieselmagazine.com/uploads/posts/web/2023/07/resize/AemetisBiodieselJuly2023_16891987225452-300x300-noup.jpg)
Aemetis Inc., a renewable pure gasoline and renewable fuels firm targeted on detrimental carbon depth merchandise, introduced at this time that its Common Biofuels subsidiary in India has been awarded an preliminary $20 million of cost-plus contracts for supply to government-owned oil corporations throughout the third quarter. Further cost-plus contracts with OMC’s are in course of for supply throughout the third quarter.
An preliminary 18,000 kiloliters of biodiesel of cost-plus biodiesel contracts for supply throughout Q3 2023 have been awarded to Aemetis. Common Biofuels accomplished roughly $34 million of second quarter shipments that have been bought below cost-plus contracts with government-owned oil corporations, although Q2 quarterly revenues won’t replicate about $1.8 million of shipments in transit on the finish of the quarter.
Common Biofuels just lately hosted a number of India Oil Firm senior executives for detailed excursions of the Aemetis India biodiesel plant. The India Oil Firm executives that toured the 50 million gallon capability Kakinada plant included the Govt Director and the Chief Working Supervisor who oversee biodiesel procurement.
“The Common Biofuels biodiesel plant has an distinctive file of well timed supply and really top quality,” said Sanjeev Gupta, president of Aemetis Worldwide. “Roughly 50,000 kiloliters of biodiesel has been delivered to the three Authorities-owned Oil Firms within the final two contract durations, with solely 10 kiloliters that didn’t move the primary acceptance check regardless of deliveries that usually require many days of truck journey and unloading delays.”
“India Oil Firm is a frontrunner within the enlargement of biodiesel and different renewable fuels in India,” said Eric McAfee, chairman and CEO of Aemetis Inc. “The well timed supply of the Q3 biodiesel tender by the three Oil Advertising Firms and the well timed award of preliminary volumes for Q3 supply allows Common Biofuels to maximise manufacturing volumes to fulfill India authorities biofuels mixing objectives.”
Constructed by Aemetis close to the India port of Kakinada in Andhra Pradesh, the Common Biofuels plant is the biggest biodiesel manufacturing facility in India. Expanded biodiesel manufacturing helps the Indian authorities’s preliminary purpose of a 1percent biodiesel mix within the quantity of about 250 million gallons per 12 months, on the best way to fulfilling the 5 p.c mix (1.25 billion gallons per 12 months) set forth within the 2022 Nationwide Biofuels Coverage.
India consumes about 25 billion gallons per 12 months of diesel, however India doesn’t have a significant quantity of home oil manufacturing and relies on imported crude oil to provide its petroleum refineries. The adoption of a 5 p.c biodiesel mix goal by the India authorities below the 2022 Nationwide Biofuels Coverage is predicted to scale back the quantity of petroleum imported into India, cut back the export of {dollars} exported to buy crude oil, strengthen home agricultural producers and processors, and considerably enhance air high quality whereas lowering carbon air pollution.
Petroleum diesel emissions are a major contributor to poor air high quality and well being points in India. In accordance with the Public Well being Basis of India, air air pollution trigger causes greater than $36 billion of financial losses annually and about one in every of each six deaths in India are attributable to air air pollution.
Biodiesel utilized in heavy transportation reduces particulate emissions by greater than 90 p.c in comparison with petroleum diesel and creates home demand in India for agricultural feedstocks and waste byproducts to provide renewable gasoline manufacturing services. Biodiesel produced from waste feedstocks reduces carbon air pollution by 50 p.c to 80 p.c in comparison with petroleum diesel, immediately lowering the emission of greenhouse gases that contribute to local weather change.