Aemetis India renewable fuels plant selected for $3 million per month supply of biodiesel to Andhra Pradesh state road transport. Aemetis, Inc. (NASDAQ: AMTX) has announced that its Universal Biofuels subsidiary located in the Andhra Pradesh state of India was selected by the Andhra Pradesh State Road Transport Corp. (“APSRTC”) to supply approximately 800,000 gallons per month of biodiesel to fuel public transport buses in the region. The arrangement is expected to be ongoing to meet the needs of APSRTC.
The State of Andhra Pradesh has a population of 84 million people, including approximately 28,000 villages.
Eric McAfee, Chairman and CEO of Aemetis.
After an initial ramp up period, revenues from the APSRTC supply agreement are expected to be about 20% of our plant capacity generating $36 million per year including glycerin byproducts, for a total of $180 million under the recently announced Aemetis Five Year Plan,”
“We built our 50 million gallon per year capacity biodiesel plant in the port city of Kakinada in the State of Andhra Pradesh on the East Coast of India to convert waste from the edible oil industry into high quality biodiesel. The selection of Universal Biofuels to supply APSRTC is the result of many years of reliably producing a high quality product and building our reputation as a proven large scale producer.”
Currently, APSRTC operates 11,522 buses with 423 bus stations, 128 depots and 692 bus shelters. The Corporation’s buses connect villages to all major towns and cities in the State of Andhra Pradesh, as well as cities in the neighboring States of Tamilnadu, Karnataka, Odisha, and Telangana.
In 1999, APSRTC entered the Guinness Book of World Records for owning the largest fleet of buses in the world. The supply agreement was arranged after the Aemetis plant was evaluated and approved for quality and production capacity by the APSRTC Head of Engineering.
✔️ Expected 10 million gallons per year is approximately 20% of biodiesel plant capacity
Aemetis India Renewable Fuels Plant Selected for $3 million Per Month Supply of Biodiesel to Andhra Pradesh State Road Transport, Cupertino, CA, March 16, 2021
