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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POSITIVE IMPACT
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