Anyone wondering why London-listed Biofuels Corp rose nearly 11% today to 155.33p has missed the government announcement they had long been praying for. . .

Earlier today, Alastair Darling, the UK's Transport Secretary (why does government need a transport minister?) announced that 5% of fuel sold on UK forecourts should come from a renewable source by 2010, adding that the target could be 'much higher'.

Biofuels chief executive Sean Sutcliffe said: 'We believe the target could be much higher and will work with the Government on determining future target levels and on efficient Renewable Transport Fuels Obligation implementation, to help ensure that it stimulates further investments in biofuels in the UK.'

Biofuels Corp has had a rollercoaster ride since it's IPO last year. But thanks to this legislation, it could soon be selling biodiesel into a captive market.