BNDES, Brazil’s national development bank, and the research-financing agency Finep plan to provide 2 billion reais ($988 million) for ventures involved in developing cane-based advanced biofuels and specialty chemicals through 2014, reports Bloomberg. The two government agencies may approve 300 million reais in loans and grants for projects this year, 700 million reais in 2013 and 1 billion reais in 2014, according to Carlos Cavalcanti, head of biofuels at Rio de Janeiro-based BNDES. The agencies are expanding support for the research program in response to growing interest in converting cane residues into useful products, he said. Companies including Dow Chemical… Login to continue

Login or sign up