Methyl Hydrate is simply another word for Methanol; which is the simplest form of alcohol. By that I mean it has the least atoms in each molecule of all the alcohols - such as ethanol and propanol. It has a formula of CH3OH. It is volatile (explodes easily), and also rather poisonous. It occurs naturally, and is produced by some plants. It is the contributing chemical compound in the process of producing 'biodiesel'.
(which is quite frankly a bad idea anyway while I'm on the subject - seeing as thousands of acres of forestry have been destroyed to clear growing space for sugar cane [or maize] to produce the methanol to make the ethanol, which makes the biodiesel - and thus, it is doing the environment a lot more harm than it is good, by destroying the worlds only natural response to global warming - photosynthesis - and especially when you consider the heavy machinery involved in both deforestation and harvesting the crops, then the transportation on large ships back to the USA then the UK and the rest of Europe where it is also becoming popular: all these things combined are surely increasing the carbon emissions, not helping them! And whats more, the ethanol is mostly mixed with around 40-60% normal diesel (or petrol) to make the biofuel, so its benefits are again decreased. The only real way to 'save the planet' through biofuel, is to make it yourself at home. I know a farmer who does it, and his truck runs well on it. Im sure there is info on the web on how to do it - just type something simple like 'how to make your own biofuel'. And dont be scared by words like 'transesterification'. )