A new partnership started to promote bioethanol development in Brazil. The Brazilian Innovation Agency, Brazil’s National Development Bank and FINEP (Research and Projects Financing) invest $540 million in financing to the country’s biofuels sector to promote innovation in the field of bioethanol.
The funding will be invested in technology projects over the next four years. The second generation of ethanol and new products such as polymers, special oils and biodiesel will be produced from sugar-cane bagasse and straw.
Following a similar model of Brazil’s petrochemical industry this is an initial step toward the development of an industrial complex for ethanol in Brazil.
The goal is to double Brazil’s ethanol production capacity without increasing the area necessary to plant sugar-cane.