Aemetis appoints Duggal CEO of Universal Biofuels in India to lead corporate-growth initiatives

Aemetis Inc. announced June 18 the appointment of Sanjeev Duggal as the managing director and CEO of Universal Biofuels, the India-based subsidiary of Aemetis.

Duggal will join the company officially on July 1.

Duggal

Before joining Aemetis, Duggal was the managing director at NTPC GE Power Services for four years and was an executive at GE in India for 11 more years.

He previously worked for eight years at the global diesel engine and power solutions company Cummins Inc. in the U.S. in business development and as a manager of corporate treasury.

“The rapid growth of our subsidiary in India has positioned the company for a potential initial public offering (IPO) to fund further expansion of biodiesel production capacity while adding sustainable aviation fuel (SAF) and renewable diesel as new products,” said Eric McAfee, chairman and CEO of Aemetis. “Sanjeev’s background as the top executive at GE’s power solutions joint venture in India, as well as leading roles at Cummins, provides important relationships with government and oil-marketing company (OMC) customers in India. We look forward to further success and the rapid expansion of our India business under his leadership.”

Duggal added, “I look forward to joining the company in order to lead operational growth as well as pursuing the IPO of the India subsidiary. Renewable fuels are growing rapidly in India, but the industry is still at an early stage of growth and is expected to expand significantly in order to meet India’s goals for energy independence, improved air quality and reducing greenhouse-gas emissions.”

Universal Biofuels is currently shipping biodiesel under a $150 million, one-year allocation by the three India government-owned OMCs that distribute fuels in India.

India’s National Policy on Biofuels states a 5 percent goal for biodiesel blending by 2030, a substantial increase from the 0.5 percent usage in 2018 when the policy was first adopted.

Aemetis built, owns and operates a 60-million-gallon-per-year (mgy) capacity biodiesel plant with a refined glycerin facility and a 50 mgy tallow-refining facility on the east coast of India near the port of Kakinada in Andhra Pradesh. 

Growth initiatives include the export of tallow to the U.S. as feedstock for SAF and renewable diesel production, as well as the production of SAF and renewable diesel in India to meet expanding demand.