AE Biofuels Inc., (OTCBB:AEBF), a global vertically integrated biofuels producer, today announced the company’s wholly-owned subsidiary, Universal Biofuels Pvt. Ltd., a 50 million gallon per year biodiesel production facility located in Kakinada, India, has completed a $3 million shipment of biodiesel to a large European customer. The company is licensed to sell biodiesel both domestically and internationally.
Universal Biofuels completed construction and commissioning of the Kakinada plant in November of 2008, and has been producing and selling biodiesel and glycerin to a variety of customers in India.
“We are very pleased to have completed this first European export sales transaction, and even more pleased with the continued positive momentum in our business,” said Sanjeev Gupta, chairman and managing director of Universal Biofuels. “We believe that Universal Biofuels is uniquely positioned to serve customers of all sizes, both in India and across the globe.”
About AE Biofuels
AE Biofuels, Inc. is a global vertically integrated biofuels company, based in Cupertino, California, developing sustainable solutions to the world's renewable energy needs. The company is commercializing its patent-pending next-generation cellulosic ethanol technology that enables the production of biofuels from both non-food and traditional materials. Its Universal Biofuels subsidiary owns a 50 million gallon per year biodiesel facility on the east coast of India. For additional information about AE Biofuels, please visit: www.aebiofuels.com and www.universalbiofuelsltd.com
Contacts:
Andy Foster, 408-213-0928
afoster@aebiofuels.com