Aemetis Receives $150M Biodiesel Supply Allocation From India Oil Marketing Companies; Production And Delivery Of The New 40M Gallon Allocation Started In October 2023
Portfolio Pulse from Benzinga Newsdesk
Aemetis, Inc. (NASDAQ:AMTX) has been selected by India's three government-controlled oil marketing companies (OMCs) to supply an estimated $150 million of biodiesel under cost-plus purchase contracts for approximately 40 million gallons of biodiesel during the one year period starting October 2023. This comes as part of India's National Policy on Biofuels which targets a 5% minimum blend on direct sale of biodiesel by 2030. Aemetis plans to continue to expand capacity to meet growing demand under the OMC cost-plus contract structure.
October 30, 2023 | 12:12 pm
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Aemetis' selection by India's OMCs to supply biodiesel could boost the company's revenues and profitability. The company's plans to expand capacity to meet growing demand could also enhance its long-term growth prospects.
The news of Aemetis being selected to supply biodiesel to India's OMCs is directly relevant to the company and could have a significant impact on its revenues and profitability. The company's plans to expand capacity to meet growing demand could also enhance its long-term growth prospects. Therefore, the score is positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100