Yes.For the last two decades, many farmers in India cultivated jatropha trees.But they did not get expected yield from the plant. Still some units are producing bio diesel from jatropha seed oil.
Yeah!, it seems many peole work on this, just have a look at SAE Mobilus 'Renewable fuels', or at a chat started by Tarun Mehra, also in in SAE: Open Forum. I've added a question about an edible variant of Jatropha curcas, a plant much used for Biofuel production. Salut +