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D1 Oils Plc (NEOS)

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Friday 27 March, 2009

D1 Oils Plc

Statement re Arbitration Awar

RNS Number : 5918P
D1 Oils Plc
27 March 2009
 




27 March 2009


D1 Oils plc 

Statement re Arbitration Award   


The Board of D1 Oils plc (the 'Company') is pleased to report that in relation to a dispute with a US company, the Company is in receipt of a final and binding arbitral award valued at £4.2m. Notification of the award was received by the Company after the market closed on 26 March 2009. Steps will now be initiated to effect the recovery of the amount due.



Enquiries:


D1 Oils plc 

Graham Prince,                         

Director, Corporate Communications              07973-323840


Brunswick 

Camilla Gore                                                       020 7404 5959



Notes to Editors:

D1 Oils plc is a biofuels technology company. Our strategy is to develop new energy crops into sustainable commercial fuels. We provide technology and services for the breeding, development, planting and harvesting of new varieties of commercial biofuel crops, focusing on alternative, sustainable feedstocks that are not subject to the same price pressures as food-grade crops. We have an established plant science and planting programme for Jatropha curcas, a robust, tropical oilseed bearing tree. Jatropha produces inedible oil feedstock for biodiesel and is able to make use of land not suitable for arable agriculture. D1 has a 50:50 joint venture with BP for the global planting of Jatropha




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