Lignol raises stake in Australian Renewable Fuels

Lignol Energy Corp., the Canadian biorefining technology company said it had agreed to raise its stake in Australian Renewable Fuels Ltd., a biodiesel producer, from 11.2% to 14.9%. An agreement signed by the two companies gives Lignol an additional 88 million common shares in the Australian company for a total price of CAD1.1 million (US$1.1 million), of which CAD225,000 (US$226,602) will be paid in cash. The balance will be paid through 7 million Lignol common shares issued at CAD 0.125 (US$0.13) apiece.
Australian Renewable Fuels currently has three biodiesel plants with a combined annual output capacity of 150 million liters of biodiesel. (October 15, 2012)