Friday, 12 September 2008

BioEnergy Africa Limited

Mozambiques BioEnergy Africa Limited has just raised £8.6 million through a placing of 68,825,600 Shares at 12.5 pence per share. The Company has a market capitalisation of approximately £41.5 million.

The funds raised will be used to develop its first project, the 30,000ha Massingir Fuel Ethanol Project in Mozambique. Sugar cane is considered the most efficient, commercially viable ethanol feedstock and southern Africa has the potential to be one of the most cost effective regions for sugar cane production.

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