DGAP-News: South Pacific BioFuels PLC: South Pacific BioFuels PLC Receives Approval for US $50M Funding for the Acquisition and Development of 75,000 Acres of biofuel plantations and production
(firmenpresse) - DGAP-News: South Pacific BioFuels PLC / Key word(s): Miscellaneous
South Pacific BioFuels PLC: South Pacific BioFuels PLC Receives
Approval for US $50M Funding for the Acquisition and Development of
75,000 Acres of biofuel plantations and production
02.04.2012 / 10:20
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75,000,000 (approx.) litres of biofuel production per year projected upon
completion.
London, United Kingdom-South Pacific BioFuels PLC ('Company')Equity
listing, ISIN GB00B5T2HX38, WKN A1JLV1, BF8 confirms that the Company has
received approval for $50 million USD in private capital funding to be used
for the acquisition and development of 75,000 acres of biofuels plantations
in the South Pacific, starting in the island nation of Vanuatu.
The financing has a maximum term of 15 years and provides the flexibility
to maximize growth of the projects to achieve a forecast production of up
to 75,000,000 litres per year. The terms include investment in the company
of $10,000,000USD as part of the facility.
Once the acquired acreage is fully developed it is projected that the
Jatropha plantations would be capable of producing up to 75,000,000 litres
of biofuel per year. Currently biofuel prices have been ranging from
$1.02-$1.04 per litre.
The company is targeting production from the fully developed 75,000 acre
plantations to be completed over the next 10 years, commencing with 2,500
acres and nursery facilities.
To replace the domestic consumption of foreign imported petroleum based
diesel in Vanuatu, will require production of 30 million litres of
biodiesel per year, which the company expects to achieve by 2020, as part
of the overall pacific region distribution of the 75 million litres. The
forecast revenue from production from these series of projects is expected
to generate approximately EUR55million annually, based on current pricing
and exchange rates.
The Company intends to provide regular updates via press release or on the
company's website at http://www.southpacificbiofuels.com/ with information
available in French, German and English.
About South Pacific BioFuels
South Pacific BioFuels is a United Kingdom company producing high quality
fuel using selected strains of Jatropha Curcas seeds. Our goal is to
create ethical returns and sustainable solutions for a cleaner planet,
while delivering positive Environmental and Economic impact, generating
Employment and Education for our project communities around the world.
South Pacific BioFuels intends to supply BioDiesel throughout the Pacific,
Europe and the Americas to reduce the reliance on petroleum based imported
diesel fuel. As production increases, further markets and sales channels
will be identified to expand the international presence of South Pacific
BioFuels. For more information, please visit www.southpacificbiofuels.com.
** END OF NEWS RELEASE **
South Pacific BioFuels (FSE: BF8) is an independent, exchange listed
company operating in the segment of 'Green Energy / Bioenergy.'
This news release may contain certain forward-looking statements,
expectations, intentions, strategies and beliefs regarding the future. All
statements contained herein are based upon information available to the
management of South Pacific BioFuels as of the date hereof, and actual
results may vary based upon future events, both within and without the
control of the management, including risks and uncertainties that could
cause actual results to differ materially.
Management does not take any responsibility to update the contents of this
News Release in case new aspects arise or new conditions change the facts
available.
South Pacific BioFuels PLC Investor Relations Division:
Jeff Michaels IR Division
ir(at)southpacificbiofuels.com
Phone: +44 (0) 7193 9266
End of Corporate News
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163508 02.04.2012
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000-acres-of-biofuel-plantations-and-production
Unternehmensinformation / Kurzprofil:
Datum: 02.04.2012 - 10:20 Uhr
Sprache: Deutsch
News-ID 130729
Anzahl Zeichen: 5521
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Kategorie:
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