Aemetis, BP Singapore sign 3-year biodiesel supply contract
Photo: Aemetis Inc.
May 25, 2017
BY Aemetis Inc.
Aemetis Inc. announced that its Universal Biofuels subsidiary in India has signed a three-year biofuels supply agreement with BP Singapore Pte Ltd. (BPS), the regional trading arm of BP Plc, which has an expanding biofuels portfolio.
“The agreement sets forth the logistics, pricing and other terms of the supply to BPS of low carbon biodiesel,” stated Eric McAfee, Chairman and CEO of Aemetis. “We expect production to commence this quarter and shipments to foreign markets to begin in the third quarter of 2017.”
Paul Lantero, chief operating officer for BP in Singapore, said, “The agreement with Universal Biofuels gives us access to low carbon biofuels, which is aligned with our strategy in transitioning to a lower carbon future. This deal bolsters our biofuels presence in Asia and other regions.”
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The Aemetis plant in Kakinada, Andhra Pradesh, has a capacity of 50 MMgy and is the first and only India biofuels producer approved under California’s low carbon fuel standard for delivery of tallow and waste oil biodiesel. In April, Aemetis filed a patent on process technology developed at the plant in Kakinada, India, for the conversion of a wide range of waste feedstocks into biodiesel.
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