Chinese company invests in new biodiesel technology production in Brazil

In Brazil, following the successful pilot demonstrating a new biodiesel technology developed in China undertake by the Alberto Luiz Coimbra Institute for Graduate Studies and Engineering Research in Rio de Janeiro, China’s Biostar company will buy an 80% stake in Mato Grosso-based Produção de Biodiesel Parecis Ltda to produce biodiesel using the new technology. Biostar will invest more than $282,000 to produce for the Brazilian market. The move is prompted by the country’s goal to boost biofuel consumption to 18% by 2030.