8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 16, 2008

BIOFUEL ENERGY CORP.

(Exact name of registrant as specified in its charter)

Delaware	001-33530	20-5952523
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)
1801 Broadway, Suite 1060
Denver, CO 80202
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code:  (303) 592-8110
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Election of Directors.

On January 16, 2008, Richard I. Jaffee, John D. Marsh and Mark Wong were elected to join the Board of Directors of BioFuel Energy Corp. (the “Company”) as independent directors.  In combination with the Company’s two existing independent directors, a majority of the Company’s Board of Directors is now comprised of independent members.  Messrs. Jaffee, March and Wong will receive the compensation for non-employee Directors described in the Company’s Registration Statement on Form S-1. The committees of the Board of Directors to which each of the new directors will be named, if any, has not yet been determined.

Attached hereto as Exhibit 99.1 is a copy of the Company’s press release announcing the election of Messrs. Jaffee, March and Wong to the Company’s Board of Directors.

Item 8.01. Other Events.

On January 17, 2008, the Company issued a press release announcing that start-up of its first two ethanol plants in Wood River, Nebraska and Fairmont, Minnesota, respectively, had been delayed by roughly 90 days based on discussions with senior management of The Industrial Company, the general contractor building the plants.

Attached hereto as Exhibit 99.2 is a copy of the Company’s press release announcing the delay of the start-up.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1	Press Release dated January 16, 2008 announcing the election of Richard I. Jaffee, John D. March and Mark Wong to the Company’s Board of Directors.
Exhibit 99.2	Press Release dated January 17, 2008 announcing the delay of the start-up of the Company’s first two ethanol plants.

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Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BIOFUEL ENERGY CORP.
Date: January 18, 2008	By:	/s/ Scott H. Pearce
	Name:		Scott H. Pearce
	Title:		President and Chief Executive Officer

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EXHIBIT INDEX

Exhibit	Description
99.1	Press Release dated January 16, 2008 announcing the election of Richard I. Jaffee, John D. March and Mark Wong to the Company’s Board of Directors.
99.2	Press Release dated January 17, 2008 announcing the delay of the start-up of the Company’s first two ethanol plants.

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EX-99.1

Exhibit 99.1

NEWS RELEASE

BIOFUEL APPOINTS INDEPENDENT DIRECTORS

DENVER, COLORADO — JANUARY 16, 2008 — BIOFUEL ENERGY CORP. (NASDAQ:BIOF) today announced the appointment of Richard I. Jaffee, John D. March and Mark Wong as members of its Board.  In combination with Alexander P. Lynch and Elizabeth K. Blake, the Company’s two existing independent directors, a majority of the Company’s Board is now comprised of independent members.

Mr. Jaffee served as a Managing Director of Goldman Sachs until 2004.  He had worked at Goldman Sachs since 1991.  Previously, Mr. Jaffee served as a Vice President, Institutional Equity Sales at Bear, Stearns & Co. from 1986 to 1991 and as Vice President, Leveraged Buyout Finance at Citicorp from 1982 to 1986.  Mr. Jaffee received his Bachelor of Arts in economics from Brandeis University and his M.B.A. from Columbia University.

Mr. March retired in December 2007 as a Corporate Vice President of Cargill, Incorporated, having been with that firm in various capacities since 1971.  Most recently he served as a member of the Corporate Center, as a Platform Leader on the Grain and Oilseed Supply Chain and Food Ingredients North America Platform and as a member of the Commodity Risk Committee.  Mr. March is a past  Chairman of the National Oilseed Processors Association, a past director of the Virginia Soybean Commission and Soybean Association and a past Treasurer and Second Vice President of the Virginia State Feed Association.  Mr. March received his Bachelor of Arts degree in economics from Dartmouth College and his M.B.A. from the Wharton School of Business at the University of Pennsylvania.

Mr. Wong was the Chief Executive Officer of Renewable Agricultural Energy Corporation, a private ethanol development company from 2006 to 2007.  Previously, Mr. Wong was the founder and Chief Executive Officer of Emergent Genetics, an international seed company he formed in 1999 and sold to Monsanto Company in 2005.   Prior to that time, Mr. Wong founded and managed a series of agricultural and biotechnology entities and companies including Big Stone Partners, Agracetus Corporation and Agrigenetics Corporation.  Early in his career, Mr. Wong worked as an engineer for FMC Corporation and Chemical Construction Corporation.  Mr. Wong received his Bachelor of Science in chemical engineering from Lehigh University and his M.B.A. from the Wharton School of Business at the University of Pennsylvania.

Commenting on the appointments, Thomas J. Edelman, BioFuel’s Chairman said, “We are extremely pleased to have Richard, John and Mark join us as Directors.  They have each enjoyed long and successful careers.  Their collective experience, judgment and range of knowledge should make them invaluable additions to our Board.  Almost as importantly, we are delighted that a majority of our Directors are now “independent”.

1801 Broadway, Suite 1060• Denver, CO • 303.592.8110 •  www.bfenergy.com

BioFuel Energy is a development stage company currently engaged in the construction of two 115 million gallons per year ethanol plants in the Midwestern corn belt.  The Company’s goal is to become a leading ethanol producer in the United States by acquiring, developing, owning and operating ethanol production facilities.

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Contact:	David J. Kornder	For more information:
	Executive Vice President &	www.bfenergy.com
	Chief Financial Officer
	(303) 592-8110
	dkornder@bfenergy.com

EX-99.2

Exhibit 99.2

NEWS RELEASE

BIOFUEL REPORTS CONSTRUCTION DELAY

DENVER, COLORADO — JANUARY 17, 2008 — BIOFUEL ENERGY CORP. (NASDAQ:BIOF) today announced that start-up of its first two ethanol plants had been delayed by roughly 90 days. Based on discussions with senior management of The Industrial Company (“TIC”), the general contractor building the plants, commercial production at the plants is now expected before the end of the second quarter.  Until recently, it had appeared that the numerous challenges which had arisen in engineering, procurement and skilled labor could be overcome with little change to the schedule.  However, TIC has indicated that despite every effort it is now clear that the original schedule can not be maintained without compromising on quality.

The aspects of construction which the Company is directly responsible for, including rail connections, water supply and wastewater treatment, natural gas lines, electricity and grain storage upgrades, currently remain on schedule. These projects should all be complete before the end of the first quarter.  However, completion of the core production facilities and the instrumentation required to run it efficiently, which TIC is building under turnkey contract, have fallen roughly three months behind schedule. Obviously, much remains to be done before the plants are commissioned.  Consequently, a variety of unforeseen challenges could cause further delay.  Despite the delay, the Company does not anticipate any material change in its previously estimated total plant construction costs of $1.35 to $1.40 per gallon.

During the 4^th quarter, the Company expended approximately $32 million at Wood River and Fairmont.  Through December 31^st, a cumulative total of $258 million had been spent on construction.  Based on remaining amounts due under the TIC turnkey contracts and estimated costs to complete work classified as the Company’s responsibility, it is estimated that a further $55 million to $65 million will be expended through completion.  These amounts exclude corporate overhead and financing charges.

Commenting, Scott H. Pearce, the Company’s President and CEO said, “We are obviously disappointed by this delay.  Unfortunately, despite an admirable degree of high level management attention at TIC, construction at both Wood River and Fairmont have experienced and continue to face challenges.  These have largely been due to the still very strong industrial construction market and the resulting competition for personnel and material.  Until recently, it was believed that most or all of the time slippage in particular aspects of the job could be made up.  However, delays in the delivery of large vessels, pipe and steel, virtually all of which are now finally on site, and continued difficulty in obtaining and keeping skilled construction labor, has forced TIC to revise their schedule.  We remain confident in the expertise and dedication that TIC and Delta-T continue to apply to the project and are impressed with the depth of their commitment to delivering top-of-the-line facilities.”

1801 Broadway, Suite 1060· Denver, CO · 303.592.8110 ·  www.bfenergy.com

The Company remains focused on finishing construction of its initial facilities and finalizing plans for their commercial operation, while remaining open to acquisition opportunities.  The Company’s main facilities in Wood River, Nebraska and Fairmont, Minnesota will each have a nameplate capacity of 115 million gallons a year of fuel grade ethanol.  Cargill, Incorporated, which holds an equity interest in BioFuel, will supply the corn required by the plants and market their output of ethanol and distillers grain.  The Company expects to report its fourth quarter and year end results in the last week of February.

BioFuel Energy is a development stage company currently engaged in constructing two 115 million gallons per year ethanol plants in the Midwestern corn belt.  The Company’s goal is to become a leading ethanol producer in the United States by acquiring, developing, owning and operating ethanol production facilities.

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Contact:	David J. Kornder	For more information:
	Executive Vice President &	www.bfenergy.com
	Chief Financial Officer
	(303) 592-8110
	dkornder@bfenergy.com