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BioEnergy Africa Ltd
- BY: Andrew Hore |
- POSTED: 01/09/2008 |
Former cricketer Phil Edmonds’ latest company, BioEnergy Africa Ltd, joined Aim on 1 September
It raised £8.6m at 12.5p a share. The shares closed the first day at 14.5p, which values the company at £48.2m. That is a hefty valuation for such an early stage company.
BioEnergy Africa plans to produce ethanol from sugar cane produced in southern Africa. The initial project is the 30,000 hectare Massingir project in Mozambique. The project is owned by ProCana Limitada, in which BioEnergy Africa owns 94%.
The clearing of the site is underway and a supply of water has been secured. The initial production capacity will be 600,000 litres of ethanol a day rising to 1,200,000 litres a day at full production.
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