Biofuels Corporation, an Alternative Investment Market (AIM) traded company which owns and operates a biodiesel plant capable of producing 250,000 tonnes of biodiesel per year on a continuous process basis, is raising £7.9 million before expenses (£7.3million after expenses) through an issue of 4,401,804 shares at 180 pence per share.

 

The proceeds of the issue will be used to provide additional working capital and to fund the next phase of the company’s growth strategy. With the first plant now operational the company's board wants to start work on their second plant. 

 

David Smith, Singapore