As in most cases of biofuel, the answer is: up to a point. One complication with biofuels is that, because of the nature of the feedstock, the composition, and hence the storage and combustion characteristics will vary over time and place. This is not what engine manufacturers or legislators like. Technically this is no problem. We have the capability to make a biofuel with just about any characteristics you like, but it adds another layer of complexity and hence cost to the process. The real challenge is to do it reliably, at an industrial scale and at an acceptable cost (including environmental issues)