Daily Telegraph. The initial public offering of shares in Australian Renewable Fuels closed early due to strong demand, raising $20 million and giving the biodiesel producer a market capitalization of $108 million.
The company said the offering closed two days early due to strong demand from investors, with the institutional component more than 2.5 times oversubscribed.
ARF plans to build two biodiesel plants (one in Adelaide, one in Picton) with technology from Austria’s Energea, each with a capacity of 40,000 metric tons per year (approximately 822 barrels per day per plant), and using tallow (animal fat) as a feedstock.
ARF will sell its biodiesel into both the established European market and the emerging Australian market.
ARF will explore using lower grade fats and used cooking oil, as well as developing an oilseed feedstock for use in its plants in the future.
Prospectus for Australian Renewable Fuels