Nicholas was previously CEO of Biofuels Corp PLC, until he stepped down two years ago after founding the company in 2003. He has registered the new company in the UK with the name Fortypoint Seven. There are 3500 former sugar beet farmers in southern Ireland who are no longer growing the crop because of changes in European farm subsidy rules. With fresh demand for producing fuel, they could start again even without the subsidies.
[Source: Sunday Telegraph]