D1 Oils - the company that is making a bet on Europe needing to buy into biodiesel at low cost from abroad - has just announced that takeover talks have ended but they remain interested in an investor taking a large non-controlling stake. In a separate statement the company said it has completed the sale and leaseback financing package for its D1 20 refinery assets, announced in September.

I think you can sum up D1 Oils with 3 points;

i) They believe the cheapest and productive feedstock will win - imported jatropha seeds
ii) They believe distributed small refineries like their D120 which produces 8000 metric tons per year is the future
iii) Europe will need a lot more biodiesel than it is able to grow and refine

All of this makes good sense. It's just that it is highly speculative until they start making a lot more sales. Maybe we'll see this in the next year or two. The challenge for this type of biodiesel company is to start making profits before cellulosic biofuels come to market - perhaps 10 years or more away.