THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2011

Mar 2, 2011

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AUSTRALIAN RENEWABLE FUELS LIMITED ABN 66 096 782 188 Level 9, 175 Collins Street Melbourne VIC 3065 TEL: +61 (3) 9663 8222 FAX: +61 (3) 9650 0070

3 March 2011

Notice to the ASX

ARF completes corporate funding process.

As part of the announced strategic development of the business, the Board of Australian Renewable Fuels (ASX:ARW) is pleased to announce that the Company has completed a placement of ordinary fully paid shares, which combined with the conversion of options, will raise some $5.6 million (before costs). The funds will be used for the implementation of the various projects already announced, with the main focus being on the rapid implementation of the overall feed stock model, as well as the continued focus on the further improvement of the Australian market position.

The funding involved;

• The successful placement of 180 000 000 shares at a price of two cents per share. The new shares rank equally with the Company’s existing ordinary shares.

• The sale by Wasabi of 200 million options to various clients of Bell Potter and subsequent exercise into ordinary shares at 1 cent per share.

Tom Engelsman, Managing Director of ARF stated that “the successful completion of this funding effort compliments a lot of hard work in the recent past to optimize the company position with regard to the burgeoning renewable fuels market. Given the current concerns with the international situation, it is clear that there will be a further increase in the local and export demand for the product, and ARF is focused on that sector. As recently announced, ARF has taken steps with regard to building a higher margin sustainable business, coupled with a focus with regard to the ability to service the Australian market with a broader supply base. The additional funding will ensure that the necessary capital to achieve these goals in the shortest possible time are now funded in the appropriate manner”.

Bell Potter was the financial advisor for the funding process, and has worked with the Company during the strategic repositioning of the business. Shareholder approval is not required for the issue of the shares.

Yours faithfully Australian Renewable Fuels Limited