Additional shares may not really be a dilution of your holding...

Additional shares may not really be a dilution of your holding even if you do not participate, but only if they are used solely for capital expansion. In this case, the completion of the second biodiesel plant.
The funds would add overall value to the company and consequently the value of your stake should not suffer in dollar terms.
The big question is however, will the extra funds be used for that purpose only or for ongoing operational expenses?

Cheers