The Perth-based company is one of three Australian biofuel companies currently planning to build biodiesel plants in the South-East Asian country that would use palm oil as feedstock.

Until mid-2005, Jupiter Energy was known as West Coast Mining. In June last year, it changed its name and focus to become an energy company. Following a lack of success in its Victorian oil and gas operations, undertaken in partnership with Lakes Oil, Jupiter has moved into the Malaysian diesel-from-palm oil sector.

The company said the prospectus, which involves the issue of 150 million shares at an issue price of 50c each, was an “integral part of the process” of spinning off and listing Jupiter Biofuels as a standalone entity on the ASX.

Shareholders will receive shares in Jupiter Biofuels via in-specie distribution, which is subject to a successful vote at the annual general meeting on November 10.

The prospectus can be viewed online at: http://www.jupiterbiofuels.com.au/