Brazilian ethanol producer Atvos has signed an agreement to build a biomethane factory in the state of Mato Grosso do Sul, with investments seen at more than $69.4 million (350 million reais).
The company said in a statement that the biomethane plant is expected to have a 28-million cubic meter capacity per crop and will be Atvos’ first one based on sugar cane wastes.
Atvos produces and sells ethanol, VHP sugar, and electricity through sugarcane and biomass. Established in 2007, Atvos is the largest issuer of Decarbonization Credits (CBios) and the second-largest producer of ethanol in the country.
“It will be located in Nova Alvorada do Sul, where Atvos – which is backed by Abu Dhabi state investor Mubadala Capital – already owns an ethanol factory,” as per the statement.
Abu Dhabi state investor Mubadala Capital raised its stake in Brazilian ethanol producer Atvos last year.
Mubadala, through investment fund FIP MC Green, acquired the stake owned by Grupo Novonor, formerly known as Odebrecht, in the holding company that controls Atvos, representing about 6.85 percent of the firm’s equity. Mubadala already possessed a direct ownership interest of 31.5 percent in Atvos during the acquisition.
The plant will represent Atvos’ “entry into the renewable natural gas market, with the difference of producing it on a large scale to meet a demand that continues to grow”, Bruno Serapiao, CEO of Atvos, said in a press statement.
Atvos further added that the project will undergo an engineering analysis before it gets final approval, with construction expected to begin this year.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
