More detail emerges on $600M Brazilian investment in advanced biofuels
In Brazil, more details emerged from a Technical Cooperation Agreement signed by the
Brazilian Development Bank (BNDES) and the Brazilian Innovation Agency (FINEP) signed a to carry out the Joint Plan for Supporting Industrial Technological Innovation in the Sugar-based Energy and Chemical Sectors (PAISS). The new program will receive $600 million in the 2011-2014 period.
Its purpose is to foment projects that aim to develop, produce and commercialize new industrial technologies designed for processing sugarcane biomass in order to produce cellulose based ethanol and other advanced biofuels. The projects arising from the selected business plans will be supported by either or both of the institutions, based on the existing financing lines, programs and funds. That is, investors may obtain financing from the BNDES’ and FINEP’s several lines and programs, in accordance with project characteristics, including equity interest through BNDESPAR.
The PAISS program will have three focuses: second generation Bioethanol; new sugarcane products, including the development from sugarcane’s biomass through biotechnological processes; and gasification, with an emphasis on technologies, equipment, processes and catalysers.
Category: Fuels
