ALICANTE (SPAIN).- The BFS project, led by Bernard A.J. Stroiazzo Mougin the Executive President of the company and his wife, Belinda Anne Halsall, the owners of Bio Fuel System S.A with shares worth 48,95 are crushed because of the loss of investor confidence in making their dream of converting seaweed (algae) into oil a viability. The construction plant in Carboneras, Murcia has been closed for a year now, and that of Alicante is incurring huge debt to CEMEX the cement company suppliers, where BFS have their pilot plant and where a few BFS staff still continue to work despite not having been paid a salary for a year now.
This loss of confidence is also experienced by the unpaid workers and suppliers going as far back to September 2013, and the abandonment of the Carboneras construction plant (sealed by the local City Council), a project where three hectares was provided to BFS for rent by the local administration in Exchange for building an industrial plant and creating jobs within the community. In fact, this plant named Ecofield has been promoted all over the world within the last three years. Ecofield has gained lots of publicity in attracting the attention of potential investors who, lately have disappeared for various reasons. StroÏazzo attempts to convince potential investors to enter into an agreement with BFS, (where the depository shares are held in the name of Halsall (BASM AG) and domiciled in Switzerland). There has been a recent Fruad trial against Stroiazzo and his sons, by his first marriage over the loss of a contract worth millions and a tax evasion offence.
The BFS Biopetroleo idea was thought up by Bernard Stroiazzo, along with Alicante scientist Cristian Gomis who was regarded as father of the technology in Alicante in 2006. Due to differences between the two parties and the inability to work together, this led to Gomis exit from BFS two years ago and curtailed any further advancement in the BFS technology.
BFS’s first construction began on the island of Porto Santo in the Madeira Archipelago, the plant was attached to a power plant with funding from the islands public electricity company. The amount of nine million euros was advanced to Stroíazzo for his technology and completion of the plant. The attractive Portuguese project however was just forgotten about and the plant was never completed. The matter has ended up in the hands of the Portuguese courts.
Stroíazzo with the acquisition of capital and media attention setup the BFS experimental pilot plant, located in Alicante and under the aegis of the CEMEX cement factory. He also managed to convince the local authorities in Carboneras (Almería) about the possibility of installing a factory on an industrial scale in the area and creating employment for the local people. The investment for this first "biopetrolifero field" was guaranteed by a solvent Italian investment group, Enalg, which disbursed the sum of around 14 million euros to BFS. Stroiazzo was acting as representative for the shares belonging to his wife, Belinda Ann Halsall, this seemed to push investors away.
A fraud trial was held in the provincial court of Alicante, against Stroiazzo, his first wife and their three children, for tax fraud to the local tax authorities, in addition to a criminal complaint that a group of shareholders made to a well-known national law firm, these are only drops in the ocean but gave them more than thirty million euros of private capital. Major partners are the Italian group `Enalg’, along with the notable Bernat family who are the founders of Chupa Chup sweets, followed by a significant number of small partner shareholders who joined the company in its early days.