TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Process: The oleaginous seed is a sunflower, colza, soybean or peanut seed (preferably a castor bean seed). The ratio of seed to alcohol is 1.5:1-0.5:1. The catalyst is sodium or potassium ethanoate of about 1.5 wt.%. The reaction is carried out at 45-55 degrees C for 40-60 minutes. The alcohol used in the process is completely recycled. The alkyl ester reaction products are neutralized and formulated into biodiesel suitable for use as fuel. The carbohydrates recovered from the solid phase are sieved to separate a fine fraction, having a granulometry up to 20 mesh Tyler, rich in carbohydrates (89.5 wt.%) that is a source of ethyl alcohol by a conventional fermentation process. The amount of ethyl alcohol obtained by the conventional fermentation process on the carbohydrates separated after the completion of the transesterification reaction is the amount required for performing the transesterification reaction. The carbohydrates recovered from the solid phase and free from ricin when castor beans are used, are sieved to separate a fine fraction of up to 20 mesh Tyler granulometry, rich in carbohydrates (89.5 wt.%), the fraction being utilized as cattle feed. The coarser fraction obtained by sieving the solid phase having granulometry higher than 40 mesh Tyler is milled until an average grain size of 20 mesh, directed to fertilizer formulation and recycled to the castor bean seed culture. The alkyl esters reaction products are neutralized and formulated as co-solvents in diesel and gasoline admixtures with anhydrous or hydrated ethyl alcohol. EXAMPLE - Raw castor bean seeds (Ricinus communis L) (1000 g) were added to ethyl alcohol (800 g) and vigorously agitated to form homogenous suspension. Sodium alkoxide catalyst (40 g) was added to the mixture, agitated and refluxed for 1 hour at atmospheric pressure and 50 degrees C. The reaction mixture was cooled to give solid phase (600 g) and filtrate (1240 g). The reaction mixture was further worked up to give biodiesel and byproducts.