Australian Renewable Fuels resumes biodiesel exports

June 21, 2013

Proactive Investors Australia

Australian Renewable Fuels (ASX: ARW) has resumed exports of biodiesel to the U.S. following the recent drop in the value of the Australian dollar.

The first shipment of 5,700,000 litres of biodiesel is now en route and will be followed by another shipment of 5,000,000 litres in August.

Customers for the order are Valero Energy Corporation and Gavilon Inc.

Valero is a Texas-based Fortune 500 international refiner and marketer of fuels with a combined throughput of around 3 million barrels a day.

Gavilon is a Nebraska based international grains; food and fuel storage and distribution company whose energy division stores and transports a range of fuels including crude oil and refined products, gas and renewable fuels.

The recommencement of biodiesel exports also marks the return of the company’s Largs Bay and Picton plants in South Australia and Western Australia to meaningful production levels, or about 45% capacity.

Separately, ARfuel has executed a new $6 million working capital facility with one of the world’s foremost top tier banks.

This is expected to fund the sales growth and development of its biodiesel business both in Australia and in export markets.