Brazil BioFuels to invest $322M in country’s first HVO facility

In Brazil, MoneyTimes reports Brazil BioFuels (BBF) will invest $322 million to build the country’s first HVO manufacturing facility.

The plant will be built in the Manaus Free Trade Zone and the first phase of the project is scheduled to start operating in January 2025. The future refinery will have the capacity to produce 500 million liters of green diesel per year. Vibra will act as the exclusive offtaker of the production.

Both companies stressed in a statement that the location of the factory will be “a strategic point for distribution throughout the North of the country, and may also direct the product to other regions of the country and even for export.”