Viridas facing administration

The Leeds-based firm has been aiming to produce oil from the jatropha plant, an inedible but highly-calorific plant which grows in Brazil.

It said, however, that it had been unable to raise the £1.4m needed to set up the farm and blamed a “lack of clarity” from Government over future support for biomass for holding back investors.

In a statement today the firm said it remained optimistic about the potential for a jatropha business despite its own difficulties.