Aemetis, Inc. (NASDAQ: AMTX) announced that its India subsidiary, Universal Biofuels, has secured allocations to supply more than 18 million liters of biodiesel to India's three government-owned Oil Marketing Companies (OMCs) over a three-month period, with expected revenue of approximately $17 million.

Universal Biofuels is also supplying distilled biodiesel to private commercial customers. The company said additional OMC supply orders are anticipated before the end of 2026, in line with India's National Policy on Biofuels, which targets an increase in biodiesel blending from the current 1% to 5% by 2030.

"Universal Biofuels and other biodiesel producers are working with the government of India to build and expand a robust biodiesel industry," said Sanjeev Duggal, CEO of Universal Biofuels.

Universal Biofuels operates a biodiesel plant in Kakinada, India, with a production capacity of approximately 80 million gallons per year. The subsidiary has been in operation for more than 18 years and also produces pharma-grade glycerin.

The company said it is exploring expansion to other locations in India and diversification into dairy biogas, ethanol, and sustainable aviation fuel. Universal Biofuels is also preparing for a potential initial public offering (IPO) of a minority equity stake on an India stock exchange, subject to market conditions.