Partner Article

India deal for D1 Oils

BIOFUELS company D1 Oils has secured a £500,000 contract for a government-led project in India, the firm which was founded by North East entrepreneur Karl Watkin said today.

In a trading update, the business also said it had agreed terms to supply plant science, technology, products and services to a major European oil and gas company which has significant plans to develop Jatropha plantations in sub-Saharan Africa.

The company will receive government funding to plant Jatropha in North East India.

Additionally, contracts have been exchanged for the sale of the firms’s Bromborough site for £2.6m while the Company has also completed a feeding trial in relation to its technology for conversion of Jatropha seedcake into high protein content animal feed.

D1, which moved out of biofuel production last year when it shut its refineries in Middlesbrough and Merseyside with the loss of 90 jobs to concentrate on the jatropha crop

Chief executive Ben Good said: “We are making good progress within the business and, with positive developments in our markets, the Independent Directors believe the Company is well positioned to deliver value for shareholders”.

This was posted in Bdaily's Members' News section by Ruth Mitchell .