My extremely uneducated guess, would be no.
Ethenol and all various derivitrives are all just basically some form ( or close to) of gas are they not?
With the hard ignition qualities of diesel, I can only imagine that ethanol would pre-ignite much to early in the compression stroke.
Since there is no ignition system, I imagine you could only vary the timing of the injection of fuel. But this being said, you would have to wait almost to late in the compression stroke, before injecting the fuel/air mixture. I would imagine that the ignition of this mixture would not be even enough for proper and reliable life.
But then again I could be wrong, I wish you all the best, please keep us informed as to your progress.
98 300 DT