BP will put $63.6 million into a biofuels joint venture with D1 Oils aimed at growing jatropha, a crop, as feedstock to blend with diesel for less overall use of hydrocarbons.

The goal of the venture is to plant one million hectares in the first four years, while refinding the material into biodiesel will begin in 2008.

Jatropha seed oil is a higher yield product that corn or soya and can be grown on waste land.

The joint declaration comes three days after BP said it would spend $400 million with Associated British Foods and Dupont to build and operate a U.K. biofuel plant.