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BP in oilseed tree project |
| Home | (The Guardian) - BP has set up a venture with biodiesel firm D1 Oils to increase planting of jatropha, an oilseed tree that produces an inedible vegetable oil used to make biofuel. This is the second such deal that BP has signed within days. On Tuesday, it joined forces with Associated British Foods to build a £200m biofuels plant in Hull. BP will put in an initial £31.75m, while D1 will incorporate its planting business and the trees it has planted to date. The venture requires £80m in funding over five years, and the rest of the money will be put in on a 50-50 basis. |