Aemetis signs biodiesel supply agreement with BP Singapore

By Staff Report | June 05, 2017

Universal Biofuels, an India-based subsidiary of Aemetis Inc., has signed a three-year biofuels supply agreement with BP Singapore Pte Ltd., the regional trading arm of BP Plc.

The Aemetis plant in Kakinada, Andhra Pradesh, has a capacity of 50 million gallons per year 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, according to Aemetis, which is headquartered in California. In April, Aemetis filed a patent on process technology developed at the Kakinada plant for the conversion of a wide range of waste feedstocks into biodiesel.

“The agreement sets forth the logistics, pricing and other terms of the supply to BPS of low carbon biodiesel," said Eric McAfee, chairman and CEO of Aemetis, in a statement. "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 in a statement, "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."