South Perth-based biofuels player Australian Renewable Fuels Ltd has reached sales targets for the December quarter, bringing it in line with the requrements needed to receive $5.4 million from the Federal government.
Total production for the quarter was 2.67 million litres, with sales of 2.7 million litres. The ramp up of volumes towards the end of the quarter saw sales of biodiesel from Largs Bay in December of 1.6 million litres.
ARFuels said in an announcement today the result was underpinned by a continued ramp-up of production volumes at the Company's production plants at Picton and Largs Bay in South Australia.
The company's newly appointed chief executive, former Verve Energy CEO John Lillywhite, said the company had placed an operational focus on achieving commercial production and sales volumes from both plants.
ARFuels is now on target to receive the remaining $5.4 million of a $7.2 million Federal Government biofuels capital grant, with the company now placing a fresh focus on increasing its sales and marketing activities.
Total production for the quarter was 2.67 million litres, with sales of 2.7 million litres. The ramp up of volumes towards the end of the quarter saw sales of biodiesel from Largs Bay in December of 1.6 million litres.
