D1 Oils, BP seek partner to fund jatropha JV

British biofuels technology firm D1 Oils P.L.C. said it was looking for a partner to fund its joint venture (JV) with BP P.L.C. for the commercial development of jatropha. “This strategy includes the marketing of a substantial share in the joint venture to third parties to contribute to the funding of further growth and development of the business,” the company said. D1 Oils said it would delay the announcement of its 2008 results pending developments in this process. The JV now plans to focus on 220,000 hectares of jatropha planting, and further investments in oil expelling, storage and infrastructure. In February, the company agreed with BP to market a substantial share in their jatropha JV to third parties. D1 Oils closed its U.K. refineries last year to concentrate on the JV. (April 17, 2009)