Phillippe Edmonds, aggressive test cricketer turned resources-focused entrepreneur, is expanding his interests in the African continent with a £13.1 million AIM float for a new biofuels business.

The new company, Bioenergy Africa, intends to tap the growing demand for biofuels by developing ethanol production facilities that will use sugarcane as a feedstock, already the basis of a highly successful industry in Brazil. With a first project based in Mozambique, Edmonds is looking for other opportunities in southern Africa.

Having courted City fame and controversy as head of natural resource companies Central African Mining & Exploration (CAMEC) and White Nile, Edmonds’ most recent projects have seen him and business partner Andrew Groves exploit other aspects of their regional knowledge of Zambia, Zimbabwe and Mozambique. Their most recent AIM deal was the £5.1 million IPO of healthcare concern African Medical Investments.

Bionenergy Africa is raised its new funds through broker Haywood Securities and nominated adviser Seymour Pierce. The float, in which Edmond’s CAMEC is reducing its stake from to 31.8 per cent, is expected to value the company at £77.5 million