BioVentures Brasil secures jatropha funding
Sugarcane central Brazil is now seeing a shake-up in feedstocks and the type of biofuels it produces.
BioVentures Brasil will receive $1 million from the InterAmerican Development Bank for a pilot project on about seven hectares in Bahia, northeastern Brazil, where it plans to develop a plantation on 20,000 hectares of mostly abandoned cattle-grazing land.
The pilot will determine whether the species can adapt to the area’s soil and climate, as well as other factors like how best to work with local communities.
BioVentures is backed by EuroVentures, a London- and Sao Paulo-based investment firm active in Brazilian energy projects, and Grupo Vigna Brasil, a Brazilian agribusiness consultancy.
BioVentures hopes to eventually raise about $150 million from investment firms that specialise in agribusiness, and from strategic investors in power production or fuel distribution and refining.
The company aims to sell the fuel to Brazilian and European firms, which would use the jatropha oil to generate electric power.
BioVentures Brasil will receive $1 million from the InterAmerican Development Bank for a pilot project on about seven hectares in Bahia, northeastern Brazil, where it plans to develop a plantation on 20,000 hectares of mostly abandoned cattle-grazing land.
The pilot will determine whether the species can adapt to the area’s soil and climate, as well as other factors like how best to work with local communities.
BioVentures is backed by EuroVentures, a London- and Sao Paulo-based investment firm active in Brazilian energy projects, and Grupo Vigna Brasil, a Brazilian agribusiness consultancy.
BioVentures hopes to eventually raise about $150 million from investment firms that specialise in agribusiness, and from strategic investors in power production or fuel distribution and refining.
The company aims to sell the fuel to Brazilian and European firms, which would use the jatropha oil to generate electric power.
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