One of Brazil’s largest sugar and ethanol groups São Martinho SA has selected and contracted Fluid Quip’s Flex Plant Technology to be installed at its Boa Vista sugarcane ethanol facility in Quirinópolis, Goiás to process corn for ethanol.
The sugar and ethanol producer and fuel distributor Raizen, a joint venture between Shell and Cosan, has started talks with investment banks for an IPO. The company made proposals to potential underwriters for an offering estimated at between BRL8 billion and BRL13 billion (US$2.21 billion), according to Valor Economico.
Brazil – Braskem to invest US$61 million to expand production of biopolymers from cane ethanol [Full subscriber]
Braskem plans to invest US$61 million for expanding the production of biobased polyethylene and ethylene-vinyl acetate (EVA) resins produced from sugarcane ethanol.
Sales of hydrous ethanol were down by 14.7% in 2020 compared to the previous year. This was largely due to the pandemic and restrictions on travel, reported Valor Economico.
Raizen, jointly owned by Cosan and Shell, is close to acquiring Biosev, the sugar-ethanol company owned by Louis Dreyfus, according to local press reports.
Brazil – São Martinho group secures funding from BNDES for new corn ethanol and cogen plants [Full subscriber]
The Brazilian development bank BNDES has approved BRL942 million (US$ 178 million) in financing for a corn ethanol plant and a cogen unit to be developed by the São Martinho group, according to local press reports.
Cane bagasse-based cogen output for sale to the national grid is expected to reach approximately 23,000 GWh in 2020. This is around 1% higher than the previous year. The marginal increase in growth is related to the Covid-19 pandemic, according to the industry group Unica.
In the last five years, corn ethanol production in Brazil has increased more than tenfold. The 2020/21 corn ethanol production is expected to increase by 80.3% to 3.021 billion litres according to the national agricultural agency, Companhia Nacional de Abastecimento (Conab).
On 14th December, Brazil reinstituted 20% tariff on imports of ethanol from the USA as talks between the two countries on opening up their ethanol and sugar markets have simply not progressed, according to Brazilian government source speaking to Reuters.
Renewable energy producer Albioma successfully completed on 25 December 2020 industrial commissioning of cane bagasse cogen unit Vale do Paraná Albioma plant in Suzanápolis in São Paulo state, according to the company’s press release.