Agri Energy posts loss

Agri Energy Limited (formerly Australian Ethanol Limited), located in Victoria, Australia, announced for the year to June 30, 2007 a net loss of A$14.390 million (US$12.087 million) on revenues of A$1.744 million (US$1.465 million). The group’s United States flagship project is the Beatrice Biodiesel Project, located near Lincoln, Nebraska. The Australian flagship project is the Swan Hill Ethanol Project in Victoria, Australia. Both facilities are currently under construction, with the Beatrice Biodiesel Project scheduled for completion in November 2007 and for production in late 2007. The Swan Hill Ethanol Project is also under construction and is scheduled for start up in 2008. The company has committed US$60 million for development financed by US$28 million in senior debt, US$1.7 million as Tax Increment Finance funding supported by the City of Beatrice and US$30.3 million in equity provided by Agri Energy. (August 30, 2007)