DENVER, COLORADO – September 19, 2014 – BIOFUEL ENERGY CORP. (NASDAQ:BIOF) (the “Company”) today made an announcement relating to the Company’s rights offering. On or about September 22, 2014, the Company will distribute, at no charge, to the holders of its common stock transferable subscription rights to purchase common stock. Each holder of shares of Company common stock as of 5:00 p.m., New York City time, on September 15, 2014 (the “Record Date”) will receive one subscription right for each share of common stock owned as of the Record Date. Each subscription right will permit the holder of such right to acquire 2.2445 shares of Company common stock at a rights price equal to $5.00 per share (subject to rounding as described in our prospectus relating to the rights offering, the “Basic Subscription Privilege”).

The subscription rights are transferable and have been approved by NASDAQ for trading on The Nasdaq Capital Market under the symbol “BIOFR” during the course of the rights offering. We anticipate trading of rights to begin on September 22, 2014. Assuming that trading of rights begins on September 22, 2014, the ex-dividend date will be September 23, 2014.

The Company has filed a registration statement on Form S-1 (as amended, the “Registration Statement”) with the Securities and Exchange Commission that registers the subscription rights. The Registration Statement was declared effective as of 5:00 p.m., New York City time, on September 19, 2014. Each holder of a subscription right that fully exercises its Basic Subscription Privilege may also subscribe for additional shares (the “Over-Subscription Privilege”) for pro rata allocation in the event that not all available shares are purchased pursuant to the stockholders’ Basic Subscription Privilege (subject to certain limitations described in our prospectus relating to the rights offering). The Over-Subscription Privilege, however, will only be offered for an aggregate number of shares that, when combined with the number of shares purchased pursuant to the stockholders’ Basic Subscription Privilege, does not exceed 12,247,393 shares. The subscription rights will expire and have no value if they are not exercised by 5:00 p.m., New York City time, on October 17, 2014. All exercises of subscription rights are irrevocable.

Copies of the Registration Statement can be accessed through the SEC’s website at www.sec.gov. The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Broadridge Corporate Issuer Solutions, Inc., the information agent for the rights offering, at the below address: Broadridge Corporate Issuer Solutions, Inc. Attn: BCIS IWS 51 Mercedes Way Edgewood, NY 11717. 1600 Broadway, Suite 1740• Denver, CO • 303.640-6500 • www.bfenergy.com [[NYCORP:3492766v6:3660W: 09/19/2014–06:36 PM]]

This release contains certain forward-looking statements within the meaning of the Federal securities laws. Such statements are based on management’s current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Factors that could cause actual results to differ from those anticipated are discussed in the Registration Statement, our Exchange Act filings and our Annual Report on Form 10-K.

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