Renewable Fuels to receive $5.4m in government grants

South Perth-based biodiesel producer Australian Renewable Fuels Ltd expects to receive $5.4 million in grants this month under the Commonwealth's Biofuels Capital Grants Program, after winning departmental approval for the payment.

The full text of a company announcement is pasted below

Australian Renewable Fuels Limited (ASX Code ARW) ("ARF") is pleased to announce that Payments 2 and 3 under the Federal Government's Biofuels Capital Grants Program have been approved for payment to ARF by the Commonwealth Government. Receipt of the grant funds amounting to $5.4 million is expected this month.

ARF's qualification for the Grant is attributable to the concerted team effort and focus of the Company's Executive with the full support of the Board. It also is confirmation of the technology platform used in the Company's operations.