Email to AAE re the below article regarding the European Venture...

Email to AAE re the below article regarding the European Venture AAE has entered into which turns out ARW (yes, Australian Renewable Fuels) has already possibly purchased 25% back in 2006.

Hi,
Can you please advise if this is still correct? (re below article)
If 87% of the capital cost had been secured back 12 months ago, why has AAE been needed to get involved in the project now?

Regards,

Rick

Recent Developments – International

ARW has announced plans to develop its biodiesel interests offshore, namely Europe & North America. They have purchased Energea’s biodiesel technology patents in the NAFTA zone. ARW will undertake a feasibility study for two large scale biodiesel plants with combined production capacity of 275mlpa.

In addition, ARW has agreed to purchase a 25% interest in Carbon Cycle Management AG to establish a 105mlpa biodiesel plant in Austria. Expected capital cost is estimated at 22 million euros, 87% of the capital cost has been secured via debt.
From: 28/04/2006 By: egoli

http://www.egoli.com.au/egoli/egoliStockIdeasPage.asp?PageID=%7BE5B33C77-D96B-49E2-BDB7-48823B9271DE%7D