Group history

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BIP was incorporated in February 2006, and was listed on the London Stock Exchange AIM market in May 2006, when it raised £3 million on flotation.

BIP made its first investment in November 2006, when it acquired the entire issued share capital of Zurex, a Malaysian company that had been issued with a licence to produce biodiesel from palm oil in Lahad Datu, Sabah, Malaysia. The consideration was satisfied by the issue of 66.67 million new ordinary shares in BIP to the shareholders of Zurex. The new shares issued then represented 45.13 per cent of BIP share capital.

At the same time, BIP raised £11 million through the issue of 44.2 million new ordinary shares at 25p per share.

At the Extraordinary General Meeting (EGM) on 6 June 2008, the Company became an Investing Company.

In November 2008, Zurex was granted an additional license to refine palm oil in Lahad Datu, Sabah, Malaysia.