If you read slide 2 of the investor presentation it looks like the $40 a barrel figure is referring to algae oil, not refined biodiesel.
http://www.slideshare.net/AlgaeTec/algaetec-advanced-biofuels
Actually even thats a bit unclear. The figure given is $200/tonne which in the context could include both oil and biomass.
troubles in the m.e, page-21
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