The main activity of Biofuels is the large scale production and exploitation of biodiesel and glycerine following the construction and commissioning of the initial plant.

Biodiesel is produced from vegetable oils and, as an environmentally friendly product, can make a significant contribution towards reducing green house gases and meeting Kyoto targets.



RNS's from BFC can be viewed at:

http://www.uk-wire.com/cgi-bin/index?search_type=3&words=bfc&go.x=17&go.y=8

http://www.biofuelscorp.com/

v. interesting mm - who do corbett and whittock work for?

Stockdog - Numis I believe.

Update powers Biofuels higher

LONDON (ShareCast) - Shares in green fuel group Biofuels motored higher after it said sales contracts are now in place for 64% of start-up production at its biodiesel manufacturing plant in Teeside, due to open in September.

The group said it is in the advanced stages of completing one of Europe's largest biodiesel manufacturing plants, with full production expected by the end of September.

Biofuels says it should be producing around 21,000 tonnes of biodiesel per month.

It said it also has a strong list of 'hot leads' in respect of a further 25,000 tonnes per month, more than three times the 7,500 tonnes remaining to match full production.

Chairman Field Walton said, "The last few months have been a period of rapid development for Biofuels. The new management team has ensured that we will operate the plant in line with our schedule, has secured significant sales contracts, strengthened the finances and brought forward consideration of further plant capacity."

"The demand for biodiesel is increasing and Biofuels is establishing a clear lead from which to exploit a rapidly growing market," added Walton.

Nice move up - back towards what I paid for the rights issue! Quite well up overall on this share this year, so can't complain.

Yes been in a few weeks , , i expect this to run over 200p now with todays statement..

Yes, but I didn't expect it all in one day! Now 173 bid up 29 on the day so far.

There seems to be no stopping this , ,,if you look back to march the sp went from 2 , to over 3 in two weeks and then crashed on bad news,,it seems they are well back on track now.. There is also a presentation at 10.30 am should be interesting..

where do you see price finishing today,also is this presentation from this mornings statement?

Couldn't say , this bumps up and down ,,has done all the way up, i'm in for the next few months at least. I think the presentation is from this mornings statement,,be interesting to see the sp this time in September..

Can't believe more on this board are not in this,,up 70 % in two weeks and much more to come..
Wilbs where are you ?? apart from jail !!!

I plan to stay in over the run up to interims in September currently.

That's just the reason, already up 70% not much else. There are other AIM stock to be in that have not risen as yet, like MMG

This still has a lot of steam left ..as for MMG i was in from 1 to 3 in Feb/March, had a nice run and will be looking to get back in ,but i'd rather pay a little more when there is solid news..

http://icteesside.icnetwork.co.uk/printable_version.cfm?objectid=15736131&siteid=50080



Construction of the WORLD'S largest biofuels plant is close to completion, the company behind the development confirmed today.

Billingham-based Biofuels Corporation, which is building the facility at Seal Sands, also revealed it is on track to sell its complete output of biodiesel when the plant becomes operational at the end of September.

The company gave the update in its annual results today which saw it report a 10m pre-tax loss for the year ending March 2005.

The loss reflects the fact the company is yet to start generating revenue ahead of production.

The results follow a turbulent year for AIM-listed Biofuels, which saw its share price plummet in April after it revealed construction delays and rising costs for its 250,000 tonnes a year plant which will convert oilseed rape into fuel.

However, Biofuels chief executive Sean Sutcliffe said the company was now in a strong position to benefit from growing biofuel markets.

He said: "The key building blocks have now been put in place and the plant is now on schedule for full production.

"The most exciting news is that we have agreed sales for 64pc of production and we have hot leads for about three times the levels of our remaining output.

"This gives us the confidence to look at building a second plant on Teesside and possibly more.

"We have three key advantages of scale, flexibility and cost advantage which will bring a whole new dimension to the UK and European biodiesel market."

Mr Sutcliffe said the company had now recruited 40 staff and would take on a further 10 to 15 in coming months.

He added that the plant construction had supported 400 jobs and the company was working with several Teesside firms in logistics and construction.

And up it goes again !!

Jimmy - you're not as alone as you think. Been out much of the day and just come in and looked at this sensational sp rise and not a comment from anyone. I'm delighted - just hope we can hold on to some of this. Another day like today and I might even break even on my LTBH! (Fortunately the occasional day-trade on this one has been good lately.)

Cheers, Madison

Well done Madison , i still think there's more to come, and it looks like the MM'S have marked it up this morning! I don't like making predictions but i think we could get over 200p today,fingers crossed . Cheers JB.

I hope your right Jimmy. I am in profit nicely now, after holding at a large loss earlier on in the year (where was that stop loss?) I couldn't watch yesterday as my electricity was off all day - luckily I'd already seen the results before that happened and knew I didn't have to worry about them - so as Madison says - you are not alone.

Todays Independant

Despite the volatility, Biofuels should do well

Biofuels Corporation has become a speculator's favourite since it listed a year ago. A glance at the share price growth demonstrates the sort of volatility this has led to.

The company turns vegetable oil into diesel, which can then be used either as a pure substitute for conventional diesel or, more commonly, it is blended with regular diesel.

Given the concern about global warming and carbon emissions, Biofuels is in a great market. The transport sector in particular is guilty of not responding to environmental threats.

The company is a start up and its first plant is not even up and running yet, so one can see how it is possible to value it at very different levels.

Biofuels listed on AIM at 75p a year ago, raising 13m. The shares then took off as investors warmed to the obvious potential of the company's market.

However, March brought disappointment as the company warned of plant delays and the need for more cash - it got 30m, after expenses, at 230p. There was better news yesterday, though anyone taking up the rights issue earlier this year would still be feeling sore.

The company said that its plant, on Teesside, would open on time, in September, and that it had signed up its first customers.

Once at full capacity, the plant will produce 250,000 tonnes a year of biodiesel - compared with annual UK demand of 19 million tonnes.

With Europe also available as a market, Biofuels should do well.

At 184p, hold on.

The Times
Biofuels Corporation

BIOFUELS CORP, which wants to convert palm oil into environmentally friendly diesel, was one of the best performers on the AIM yesterday. The shares soared 27 per cent to 184p after management posted an upbeat outlook statement. The strong run belies a mixed history. Four months ago the shares traded at 311p, after an oversubscribed 32.7 million fundraising at 230p. But a shock trading update a month later, containing poor news from Germany and delays to the construction of plant at Teesside, created dismay. Biofuelss shares fell as low as 70p in May.

Yesterdays update restored some confidence. Sean Sutcliffe, chief executive, said that the Teesside plant was on target. More importantly, 64 per cent of its 21,000 tonne-a-month start-up output has been pre-sold to blue-chip refinery customers in the UK, and the firm is confident that the rest will go during the next seven weeks.

Biofuels is still paying the price of an unfavourable hedging arrangement that forces the company to pay above-market prices for its palm oil. Risks also remain that the Teesside plant will encounter other start-up difficulties, thereby delaying the much-needed first revenue flow.

But fundamentals for biodiesel are strong. The European Union Biofuels Directive demands that biofuels should be at least 5.75 per cent of fuel used in member states by 2010 and there is a dearth of biodiesel suppliers. Investors should be under no illusions about the level of risk that circles this stock. At 184p, however, the risk-reward ratio is appealing. Buy.