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Renewable Fuel Corp Announces Plant Offshore Group Transaction LAS VEGAS, NV--(MARKET WIRE)--Oct 29, 2008 -- Renewable Fuel Corp, Inc. (RFC), a leading
producer and supplier of biodiesel and blended fuels in
North America and
International markets, is pleased to announce that Plant
Offshore Group
Limited (POGL), a leader in Engineering, Procurement and
Construction
Management ('EPCM') services, engineering design software
and rubber
seismic isolation technology, have concluded an investment
transaction with
Renewable Fuel Corp (RFC). The investment gives POGL an opportunity to leverage its expertise in the area of green fuel technology. The RFC biodiesel product uses only renewable and sustainable feedstocks and is produced in one of the world's newest and most technically advanced facilities in Kuantan, Malaysia. The value of the POGL transaction is approximately $9,171,000 USD and concludes restructuring efforts of one of RFC's recent acquisitions, Century Corp Sdn Bhd (Century) through RFC's wholly owned subsidiary Bio Refining Industries, Inc (BRII). "We are proud to have an ongoing working relationship with RFC, the perceived market leader in the US biodiesel industry, and will be one of the largest producers in the world within the next few years. We believe our interest in RFC will enable POGL to participate in the booming biodiesel and blended fuel industry in the US and key international markets," said Hang Chin Juan, Chief Executive Officer of POGL. "We share the same vision as RFC, that the worldwide biodiesel market represents excellent opportunity." "We are building a company that can truly leverage the worldwide biodiesel opportunity," said William Van Vliet, Chairman of RFC. "The transaction with POGL is an important affirmation of our strategy to build a diverse worldwide green fuel company. As savvy business people we search for opportunity, as our recent turnaround efforts with BRII show. We know how to acquire strategic assets and improve them for our use. POGL is a solid partner in our efforts to fulfill RFC's future technological requirements." Renewable Fuel Corporation RFC is a premier provider of biodiesel and fuel solutions worldwide. The company operates a biodiesel facility in Kuantan, Malaysia that produces biodiesel for sale worldwide. RFC produces all of its biodiesel to ASTM and EN standards. RFC is a distributor of D2 diesel fuel; the company provides custom biodiesel blends enabling customers to meet requirements for renewable fuel mandates in both the United States and worldwide. The company's subsidiary BRII recently acquired two companies with biodiesel projects in Indonesia which are part of the company's long term growth strategy to add facilities for biodiesel and the development of feedstock production for use by all of its biodiesel plants. For more information: www.rfuelcorp.com. Plant Offshore Group Limited POGL trades on the AIM Market of the London Stock Exchange under the ticker "POGL.L." POGL is principally an investment holding company with three (3) direct subsidiary companies, i.e. Plant & Offshore Corporation Sdn Bhd, Plant Offshore Pty Ltd. and Rubber Seismic Isolators LGM Sdn Bhd. The services of POGL and its subsidiary companies are predominantly located in Malaysia. Services include EPCM, engineering design software and rubber seismic isolation technology. Contact: For Information Contact:
Renewable Fuel Corporation
+1.702-989-8978 ext. 1040
Email Contact
Source: Renewable Fuel Corp
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