British biofuels technology firm D1 Oils Plc (DOO.L) said on Friday it was looking for a partner to fund its joint venture with BP (BP.L) for the commercial development of the biofuel crop, Jatropha.
"This strategy includes the marketing of a substantial share in the Joint Venture to third parties to contribute to the funding of the further growth and development of the business," the company said in a statement.
D1 Oils said it would delay the announcement of its 2008 results pending developments in this process.
The joint venture now plans to focus more on 220,000 hectares of Jatropha planting, and further investments in oil expelling, storage and infrastructure, the company said.
In February, the company had agreed with BP to market a substantial share in their Jatropha joint venture to third parties to help in the funding of further growth and development of the business.
D1 Oils closed its UK refineries last year to concentrate on the joint venture to develop the non-edible crop as a biofuel feedstock.
D1 Oils shares were up 3 percent at 8.75 pence at 0827 GMT. (Reporting by Tresa Sherin Morera
