Australian Renewable Fuels Limited (ASX:ARW) announced a private placement of 610,000,000 common shares at AUD 0.007 per share for gross proceeds of AUD 4,270,000 on February 7, 2013. Existing investor Lignol Energy Corporation and Thorney Holdings Pty Ltd will invest AUD 1,250,000 and AUD 1,000,000 respectively. New investor Wentworth Holdings Limited will invest AUD 1,400,000. The deal will also see participation from other new investors. Investorfirst Limited will serve as placement agent to the company and will receive AUD 160,000. The deal is expected to close on February 12, 2013.

On February 13, 2013, Australian Renewable Fuels Limited closed the transaction. Jeremy Cooper of Deloitte Corporate Finance Pty Ltd. acted as financial advisor to the company.