IBI Infinity Regs

    RNS Number : 6090U
  Infinity Bio-Energy Ltd
  16 May 2008
   
    Infinity Bio-Energy Ltd.
    ("Infinity" or the "Company")

    Publication of Annual Report and Accounts for the full year ended 31 March 2008


    Infinity Bio-Energy Ltd. (AIM: IBI.L) is pleased to announce that it intends to publish its results for the period ended 31 March 2008
by 25 June 2008. 
    As anticipated by the Company in its Interim Report of September 2007 and as those that follow the sector are likely to be aware, prices
of sugar and ethanol in 2007 were significantly lower than in 2006. As we have highlighted in our interim results announcement of 18
December 2007, prices of sugar and ethanol in the Brazilian market are typically higher in the inter-crop period of December to March.
However, in the year to 31 March 2008, neither ethanol nor sugar prices increased to the levels expected by the Company and the rest of the
sector in this key period. These lower prices affected the whole sector including the Company. This was exacerbated by low utilization with
the Company's mills operating at 62% of its 6.2 million tons installed capacity, crushing 3.8 million tons. Therefore, the results for the
period ended 31 March 2008 will be lower than expected. Other companies in the sector have experienced the same issues.
    For the 2008/2009 harvest, the three mills that were operating in the last harvest (Usinavi, Alcana and Cridasa) are budgeted to operate
at approximately 81% utilization of its installed capacity, crushing an aggregate of 5.05 million tons. Greater utilization will therefore
be achieved. Furthermore, and as previously announced, the Company will benefit from having executed four acquisitions with the acquired
entities consolidated into an integrated company, completing its first phase of expansion that should lead to an increase in productivity.
    Following these acquisitions, the Company is budgeted to crush approximately 7.4 million tons this year and its fully installed capacity
for the 2008/09 harvest is 9.5 million tons including two mills that are in the latter stages of construction, Central Energica Parao
("Parao") and Destilaria de �?lcool IbirapuLtda. ("Ibircool"), both of which are dedicated exclusively to producing ethanol. Parao and
Ibircool are expected to be operating in the 2008/09 harvest. The Company also announced the acquisition of an existing mill (an asset
purchase), Agro Industrial Marcoalhado Ltda. ("Agromar"), that has already been disassembled and will be rebuilt at one of Infinity's future
greenfield sites in the state of Mato Grosso do Sul. Agromar will only produce ethanol and is scheduled to initiate operations in the
2009/10 harvest. Finally, on 13 February 2008 the Company announced the acquisition of Disa Group.
    The Company continues to be confident in the growth of the ethanol market, both in Brazil and in international markets and is well
placed to benefit from this growth.


    For further information, please contact: 
    Infinity Bio-Energy Ltd. 

                                  
 Infinity Bio-Energy              
 Sergio Thompson-Flores, CEO     +55 11 3525-9921
 Rodrigo Aguiar, IRO             +55 11 3525-9922
                                  
 Collins Stewart Europe Limited   
 Adrian Hadden/Adam Cowen        +44 (0) 20 7523 8350
                                  



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