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Background of IBE
Integrated Bio Energy Limited is an Australian unlisted public company. The Company was established to develop a vertically integrated oilseed processing and animal feed manufacturing facility. The Company owns an oilseed processing facility located at Moree in northern NSW (the Moree Site) and intends to develop this site by upgrading and expanding the existing oilseed processing plant (Plant) and establishing animal feed production facilities (the Project).
The Project aims to value add to cottonseed and other oilseeds by processing them into their component parts, blending and modifying these, and then selling the resultant vegetable oil and protein meal based products into their respective higher value markets. In addition to achieving acceptable processing margins the company proposes to strengthen the profitability of the enterprise by pursing downstream value added opportunities.
The fundamentals of the Project are underpinned by increasing worldwide demand for animal protein for human consumption, particularly in Asia. Australia, through its proximity to Asia and in its position as the world’s second largest exporter of beef, is well positioned to satisfy this increasing demand. To meet this demand, the Company anticipates that livestock production will continue to intensify in Eastern Australia, and as a consequence, demand for high quality animal feed products will continue to grow.
It is this fundamental strengthening in demand for global food products relative to supply which has seen the agribusiness sector become an attractive investment alternative offering sound opportunities to Shareholders. |
Current Operations & Services
IBE’s principal activity will be the processing of whole cottonseed (WCS). WCS is a by-product of the cotton ginning operation, which separates the cotton boll into fibres and seed. WCS is comprised of lint (the remnants of the cotton fibres), hulls (the seed coating) and the seed kernel. The kernel contains a significant amount of cottonseed oil (CSO), and is also high in protein.
Cottonseed oil is a high quality vegetable oil with many applications in the food industry, such as in frying oils, salad oils, shortenings and margarines.
IBE has developed dialogue with a number of Australia’s principal downstream vegetable refiners. Each of these refiners is currently required to import significant volumes of vegetable oil of variable quality.
The principal end users of the animal feed products to be produced by IBE include:
- beef cattle feedlot industry;
- grass fed beef cattle industry;
- monogastric animal (chicken, egg and pork) industries;
- dairy industry; and
- recreational and thoroughbred horse industries.
IBE’s Plant will enable cottonseed meal (high in protein & energy), cottonseed hulls (high value fibre) and other trace additives to be blended into both loose meal and pelleted products in accordance with the most suitable specifications for any given market. Cottonseed is the principal oilseed proposed to be sourced for processing. However, it is intended that the Plant will be developed with the ability to process other oilseeds according to price and availability, including sunflowers, canola, soyabean and mustards.
The Project incorporates a number of distinct profit centres in one entity, and also captures significant freight advantages through its location in Moree, which is a significant cotton growing region and intensive livestock area. |
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History of IBE
Key milestones of the Project include:
| Year |
Event |
| 2006 |
Devine Agribusiness undertakes initial feasibility work on oilseed processing with the aim of establishing a new facility. |
| April 2007 |
Integrated Bio Energy Limited registered as an Australian public company |
| July 2007 |
Management team undertakes tour of United States oilseed and biodiesel facilities |
| November 2007 |
Purchase of Moree Site including oilseed Plant and Equipment |
| November 2007 |
Inaugural IBE Shareholders meeting |
| February – December 2008 |
Planning phase, capability configuration and engineering assessments (Andersons International), and CAPEX budget development |
| February 2009 |
First Company Annual General Meeting held in Moree |
| June 2009 |
Finalisation of plans for plant expansions and upgrades |
| July 2009 |
Finalise capital raising requirements and receive approval of appropriate bank funding |
| September 2009 |
Appointment of Chief Executive Officer, Sam Balch. |
| October 2009 |
Released Information Memorandum. |
| January 2010 |
2nd Annual General Meeting held in Moree. |
| February 2010 |
MOU with downstream oil refiner to take total production.
Discussions and agreement in principal with a large rural retailer to distribute livestock feed supplements.
Due Diligence work commences with Funds Investment Group from Sydney. |
| February/May 2010 |
New capital raised from new and existing investors under both Information Memorandum and Preference Share Rights Issue. |
| June 2010 |
Application process for Federal Grant/Concessional Loans commenced. |
| June 2010 |
MOU with a large rural retailer for sale and distribution of stock feed products. |
| August 2010 |
Updated Business Plan Summary released. |
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Management & Staff
Directors
Dominic Devine (Chairman)
As a director and founder of the Queensland based agribusiness consulting firm, Devine Agribusiness Pty Ltd, Dominic has thirteen years experience providing high level consulting services to the agribusiness sector. Dominic is also a registered property valuer.
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Michael Flynn
A veterinarian and grazier, Michael has an agricultural production background with 29 years of extensive experience in the cattle industry, including live export and intensive and extensive cattle production. Michael graduated in Veterinary Science from the University of Queensland in 1979 with first class Honours.
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Graham Kenny
Graham Kenny is a director of the Queensland based agribusiness consulting firm Devine Agribusiness Pty Ltd, and has worked as a senior consultant in agricultural industries for the past 10 years. Graham graduated in Applied Science (Animal Production) from the University of Queensland in 1993 with first class Honours and was awarded a University Medal. |
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Company Secretary
Daryl Corpe
Daryl Corpe has been a partner of the regional accounting firm Ulton since 1986. Daryl specialises in the area of corporate consulting, including business acquisitions and valuations, corporate restructuring, finance and financial modelling.
Management Team
Sam Balch (Chief Executive Officer)
Sam has been employed by the Company to oversee the operation of the Company and implementation of the development of the Moree Plant and re-establishment of operations at Moree. Sam has extensive experience in business management having spent the last 12 years developing projects throughout regional Queensland. |
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Plant Manager – Brian Henderson
Brian will oversee the development of the Moree Site, the installation of the new plant and equipment, and the initial operation of the Plant. Brian has wide experience in the fabrication and operation of agricultural plant and equipment.
Plant Supervisors
Jamie Peachy
Jamie has had in excess of eight years experience working at the Moree Plant. Jamie’s role will be as a Shift Supervisor and he will have an active role in training new personnel. Bill Mackenzie
Bill has had in excess of five years experience working at the Moree Plant. Bill’s role will be as a Shift Supervisor and he will have an active role in managing the feed meal production. |
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