South Pacific BioFuels PLC
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
South Pacific BioFuels PLC / Key word(s): Miscellaneous 02.04.2012 / 10:20 --------------------------------------------------------------------- 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@southpacificbiofuels.com Phone: +44 (0) 7193 9266 End of Corporate News --------------------------------------------------------------------- 02.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 163508 02.04.2012
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