receives 5.4 million grant, page-9

Some serious accumulation occuring now.

The major announcements I am waiting for is the return to profitability, predicted in recent statements, sometime in the 3rd or 4th quarter.
The overall argument for buying ARW is that it has been beaten down too far by a number of factor, including:
- removal of tax breaks by the government
- rising input prices for feedstock IN THE WIDER BIOFUELS market, contributing to massive pessimism about the sector in general
- ongoing technical difficulties, a normal part of any new technology
- cash shortages

Because ARW can use animal fat it is shielded somewhat from the price pressure facing other companies. It isn't immune from the general pessimism about the sector unfortunately. Technical difficulties are being resolved, cash problem is solved and it looks like a labour government might get in and reverse government changes to tax scheme and maybe provide further incentives. Profits are predicted, a major milestone for emerging techn firms. Put simply, lots of upside after a period of large difficulties and irrational pessimism about the sector in general.