BFC Biofuels

RNS Number:3594C
Biofuels Corporation PLC
03 May 2006


Biofuels Corporation plc
("Biofuels") or the ("Company")


Initial shipments of biodiesel and progress update, Board change and Director
share arrangements


Initial shipments of biodiesel and progress update

The Board of Biofuels is pleased to announce its first shipments of seven
thousand tonnes of on-spec. biodiesel to initial customers.  Further
consignments are being planned in line with production forecasts and customer
schedules.

During April, the Plant was on-stream for over 80 per cent. of the time,
operating at just under half nameplate capacity

In line with previous announcements, the focus is now on ramping-up production
to the capacity of 250,000 tonnes per annum.


Board change

The Board announces that John Nicholas is to retire from the Board with effect
from today.

Mr. Nicholas, a founding director of Biofuels, has decided that the successful
completion of the Plant's construction and product delivery mark an appropriate
time for him to stand down.


Director share arrangements

Mr. Nicholas has a beneficial holding in the Company of 2,462,014 ordinary
shares of which 2,460,451 shares (representing 5.45 per cent. of the issued
share capital) are subject to a lock-in agreement with Collins Stewart Limited,
entered into at the time of the Company's admission to AIM trading in June 2004.

Mr. Nicholas has reached agreement with the Board and Collins Stewart by which
he will be able to sell shares to a value of approximately #500,000 in order to
meet certain personal financing requirements.  Separately, it has been agreed
that Mr. Nicholas will transfer up to 250,000 shares to a number of third party
individuals (i.e. non-related parties) with whom he contracted in connection
with the IPO to gift a proportion of his own holding by way of compensation to
them in respect of the loss of Enterprise Investment Scheme status and their
investment early in the Company's financing.

The balance of Mr. Nicholas's shareholding is subject to the terms of the
lock-in agreement.  The amended agreement binds Mr. Nicholas until the Plant is
in continuous production at a rate of over 17,000 tonnes per month and
thereafter limits the number of shares he can sell in any one month.


Commenting on John Nicholas's retirement, the Chairman, Mike Buzzacott, said:

"We wish John Nicholas well.  It was his vision to initiate the construction of
the largest biodiesel plant in the UK and one of the largest in Europe."


Commenting on the progress update, Sean Sutcliffe, Chief Executive, said:

"We are delighted with the progress at the plant.  We have proven 24 hour
production, are shipping product to customers and are steadily moving towards
achieving full production."

                                                                      3 May 2006

Enquiries:

College Hill                     Tel. 020 7457 2020
Mark Garraway
Gareth David



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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