Summit Group to build corn ethanol plant in Brazil

Renewable energy specialist Summit Group will construct a corn ethanol production facility in Brazil.

The Iowa-based Summit Group will develop a $140 million (€107 million) plant near Lucas do Rio Verde in Mato Grosso.
Summit Group will use ICM's technology to power its 50 million gallon per year Brazilian ethanol plant.

Initial work on the plant will begin within the next six months and it will be operational by early 2016.

The Mato Grosso region has substantial corn production and corn-derived ethanol is therefore the most viable choice to use alongside existing sugarcane ethanol production.