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Other news: Good Fuel Co-operative launches share issue

A co-operative that has pioneered the production and distribution of biodiesel made from waste oil has launched a share issue to raise �420,000 to fuel the growth of the biodiesel market.

The Good Fuel Co-operative is a consortium established early in 2008 by five UK biodiesel co operatives � Goldenfuels, Sundance Renewables, Magpie Recycling, Bolton Alternative Fuels Co-operative and Biofuels.org.uk. It was registered by Co operativesUK.

The five individual co-operatives were already successful and growing businesses, but they created the Good Fuel Co-operative to enable them to pool resources and work together, to develop the market for biodiesel nationally and to help the individual co operative businesses grow.

The share issue is intended to raise capital from supportive individuals and organisations for a range of projects. The most groundbreaking of these is the purchasing of a community biodiesel plant in Tredegar in South Wales by Sundance Renewables.

As Jan Cliff, a founder member of Sundance and the Good Fuel Co-operative, explains: �This will be the largest community biodiesel plant in the UK and we are poised to rescue other failed biodiesel operations to help establish an ethical co-operative movement at the forefront of a low carbon economy that includes other community based renewable energy projects, such as community owned wind farms.�

Sundance is scaling up to produce 30 tonnes of biodiesel per week and supplies Pembrokeshire Coast National Park, the National Trust and Forestry Commission with their fuel. Just this year, it won the Social Enterprise Award at the Carmarthenshire Business Awards and the Innovation Award at the first Wales Recycling Awards.

The share issue will raise capital to finance four other projects too: the start-up costs of a new biodiesel co-operative in Shropshire, modernising Goldenfuels� premises, expanding Bolton Alternative Fuels� business and collecting waste oil nationally.

Alex Lawrie, a co-operative development specialist with Somerset Co-operative Services who is working with Good Fuel Co-operative, is optimistic.

�It is often the case that in recessions co-operatives can rescue assets and facilities originally developed by over-ambitious private enterprises. As the speculative and greedy investors flee the biofuel sector, a more prudent, principled and accountable business model is taking its place.�

Even though trust in financial services and business has fallen dramatically in the last few months, the future looks strong for Good Fuel as a co-operative of local, community-based businesses.

For more information and to download a prospectus visit www.goodfuel.coop