Tvheadend

Hi
I am using tvheadend its work great ,but i want to use this stream on internet is there any tracode that can help to to transcode for web stream.
i used one trascode fom one company i am getting below error
[2012/02/20 02:32:23] Channel StartUp
[2012/02/20 02:32:48] Choose Video=0(h264) Size=704x576 Fps=50/1/2
[2012/02/20 02:32:48] Choose Audio=0(mp2) Channel=2 SampleRate=48000
[2012/02/20 02:32:48] codec=[libfaac]
[2012/02/20 02:32:48] codec=[libx264]
[2012/02/20 02:32:48] Can Not Init Video Encoder=libx264
[2012/02/20 02:32:48] [Input] Closed

this is profile i used for trascode
preset=superfast threads=4 filter_queue=16 filter_thread=4 filter=deinterlace filter=resize:width=640,height=480 x264opts=keyint=75:bframes=5

any one please help me whats wrong
o used like for transcode
http://admin:[email protected]:9981/stream/channelid/1