CUPERTINO, CA -- (Marketwired) -- 10/06/15 -- Aemetis, Inc. (NASDAQ: AMTX), an advanced renewable fuels and biochemicals company, announced that distilled biodiesel produced by its subsidiary in India reduces major causes of air pollution by 80%. Prime Minister Modi has set a target of cutting oil imports by 10% within seven years. PM Modi's oil reduction goal may be achieved if the Government of India enforces the current 5% biodiesel blending mandate and increases to 20% by 2017.
According to Bloomberg, India ranks second worldwide with 650,000 annual deaths from dangerous air pollution. A recent World Health Organization report revealed that India has 13 of the 20 most polluted cities in the world. New Delhi, the capital of India, has the worst air pollution of any city in the world.
The healthy limit of 2.5 micron-sized particulate matter is currently 10 micrograms per cubic meter. New Delhi, India, registers a particulate level 1400% higher than the acceptable limit.
The 99.8% pure distilled biodiesel produced by Aemetis has superior performance compared to regular biodiesel, including a high cetane rating of 66-68 compared to the regular biodiesel cetane rating of about 51. Higher cetane biodiesel from Aemetis results in significantly decreased NOx emission levels and has excellent lubricating properties that reduce engine wear.
"Aemetis distilled biodiesel exceeds Bharat Stage V and Euro 5 standard specifications, which are expected to be implemented in India in about five years. The sulfur content in our biodiesel is almost zero compared to the high sulfur content allowed in diesel in India," said Eric McAfee, Chairman and Chief Executive Officer of Aemetis.
"The biodiesel industry needs the Government of India to enforce the present 5% mandate aggressively and eliminate barriers to increased biodiesel production. With the deregulation of diesel prices earlier this year and approval for direct sales to bulk users, the Universal Biofuels subsidiary of Aemetis has expanded its sales team and increased production," said Sanjeev Gupta, Managing Director, Universal Biofuels, based in Hyderabad.
The India diesel market is currently estimated at 25 billion gallons per year, which upon achievement of a 20% blend would result in a biodiesel market of about 5 billion gallons per year. The current biodiesel production capacity in India is estimated at 250 million gallons per year. Aemetis owns and operates a biodiesel production facility with a capacity of approximately 50 million gallons (190 million liters) per year near Kakinada, located on the East Coast of India.
Headquartered in Cupertino, California, Aemetis is an advanced renewable fuels and renewable chemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products by the conversion of first-generation ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, Aemetis owns and operates a 60 million gallon per year ethanol production facility in the California Central Valley. Aemetis also owns and operates a 50 million gallon per year renewable chemical and advanced fuel production facility on the East Coast of India, producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals. For additional information about Aemetis, please visit www.aemetis.com.
Safe Harbor Statement
This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements regarding our growth opportunities, our ability to grow and expand our business in India, the impact of increasing our sales efforts in India, the enforcement and increase of biodiesel blending mandates in India, the ability of Aemetis distilled biodiesel to help meet government mandates in India, the size of the market for biodiesel in India and implementation of Bharat Stage V and Euro 5 standard specifications in India. Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets," "will likely result," "will continue" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed or to be filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2014 and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.