In England, D1 Oils officially announced that it would close its rapeseed oil biodiesel plant in Teesside and lay off 40 workers until it could sell the plant. The company said that it would close plants in Middlesbrough and Merseyside that are unable to compete with US imports and concentrate on development of its 500,000 acres of jatropha in Africa and India. The jatropha is planted in partnership with BP, and will begin yielding jatropha oil later this year with full scale production by 2011.
D1 Oils completed a $32 million capital raise, primarily from existing shareholders, and had said it would exit the UK biodiesel refining business and concentrate on its plantation and science businesses, including its JV with BP.
“We believe that UK (biodiesel) demand will largely be met by subsidized US imports. We do not see the UK as offering a viable location for refining and trading to meet domestic demand for the foreseeable future,” the company said in a statement.
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