- Aemetis, Inc's AMTX Universal Biofuels subsidiary in India has secured contracts from the three government-controlled oil marketing companies (OMC's) to supply ~8.5 million gallons of biodiesel over the next three months.
- The company expects revenues from the shipments to be ~$34 million of the $538 million of total tender offers issued by the OMC's.
- Universal Biofuels owns and operates a biodiesel plant located near the Port of Kakinada on India's east coast.
- "The required product quality testing for the contracts has been completed and biodiesel deliveries have commenced for the contracted period of April, May and June," commented Sanjeev Gupta, Managing Director of the Universal Biofuels subsidiary of Aemetis.
- Price Action: AMTX shares are trading higher by 3.59% at $2.31 premarket on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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