Despite the disastrous world economic conditions, the Biofuel Partnership Limited has filled its current $500,000 offer through ASSOB in a relatively short time.
The offer is now closed and (together with its two successful federal government grant applications) the company now has the funds to move quickly into the commercialisation of the BioCube.
The closing of the offer signals the reopening of the market for secondary sales. The BioCube™ is an affordable, efficient and transportable Biodiesel processor the size of a 10ft (approx three metres) ISO shipping container. It has been under development in Australia for about two years and has now achieved its initial research and development goals. There is substantial interest in the BioCube™ from countries across Asia, Africa and the Pacific, and the company predicts that the first orders will be signed within days.
Agreement has been reached with the Australian arm of the German engineering group EDAG for the manufacture of the initial units. This will ensure that the BioCubes meet the rugged specifications the BioFuel Partnership has set for the machines, which will go into service in some of the toughest environments in the world.
“We have met our obligations to our initial shareholders to complete the BioCubes development program during 2008. We now are moving forward with confidence to capitalise on the great interest that has been generated internationally and to sell the BioCube™ into world markets”, said chairman John Edwards.