Aemetis, Inc. announced that its Universal Biofuels subsidiary in India, owner and operator of a 60 million gallon per year capacity biodiesel plant located near the Port of Kakinada on the East Coast of India, was selected by India's three government-controlled oil marketing companies (OMCs) to supply an estimated $150 million of biodiesel under cost-plus purchase contracts for approximately 40 million gallons of biodiesel during the one year period starting October 2023. Approximately 70% of the 25 billion gallon diesel market in India is supplied by the OMCs, with the remaining 30% supplied by private oil refiners. The 2022 Amendment to India's National Policy on Biofuels targets a 5% minimum blend on direct sale of biodiesel by 2030 to expand the domestic production and consumption of biodiesel above the current 1% blend.

The National Policy prohibits imports of biodiesel into India. Biodiesel feedstocks include renewable oils that are byproducts from food production, which can lower the overall cost of food and improve the environment by creating new markets for these byproducts.