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The Companies Project That, In Its First Year Of Operation, Evolua Etanol Will Trade 9 Billion Liters Of Biofuel
Last week, Copersucar, Brazil’s largest sugar and ethanol exporting company, announced the creation of the brand Evolua Etanol, a joint venture formed from the association of the company with Vibra Energia, former BR Distribuidora. The new platform is dedicated to the trade of ethanol in national and global markets, aiming to transact 9 billion liters of biofuel in its first year of operation.
Evolua Etanol will be headquartered in São Paulo and have an office in Rio de Janeiro, in addition to having its own governance structure and board. The joint venture will operate with independent management aligned with its shareholders, in order to follow best practices in administration and compliance.
The company’s equity capital is equivalent to R$ 10 million, with 50.01% of the shares held by Copersucar and 49.99% by Vibra Energia. Furthermore, it is expected that in the future, an additional R$ 440 million will be invested, in proportion to the respective stakes of the shareholders.
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According to the companies involved, Evolua Etanol will operate under an open platform model, allowing access for all interested parties. In a statement, they also informed that its purpose is to enable solutions, integrate and bring efficiency and scale to the market, thus reducing the distances between ethanol producers and consumers across Brazil.
Additionally, Pedro Paranhos, CEO of Evolua Etanol, stated in a statement that his expectation is to offer all market participants a modern and competitive alternative for trading biofuel, with scale and logistical efficiency.
Tomás Caetano Manzano, president of Copersucar, affirmed that this new open business platform, developed in partnership with Vibra, will elevate the company to a new level.
The creation of the Evolua Etanol brand will now expand the operational scale of Vibra Energia and Copersucar, which were already considered, together, responsible for the largest ethanol trading company in Brazil.
In this regard, Wilson Ferreira Jr., CEO of Vibra Energia, emphasized that this is yet another demonstration of the company’s commitment to pursuing business focused on the transition to cleaner and renewable energy sources and the decarbonization of its operations.
About Copersucar
Copersucar, founded in 1959, is a Brazilian cooperative dedicated to the trade of sugar and ethanol. The company is one of the largest global exporters of these products, having reached the number of 34 mills operating in the states of São Paulo, Paraná, and Minas Gerais.
In addition to connecting mills and customers through the promotion of large-scale sugar and ethanol trade, Copersucar also carries out logistical operations, thereby integrating all links of the value chain.
About Vibra Energia
Headquartered in Rio de Janeiro and founded in 1971, Vibra Energia operates in the distribution and trade of petroleum-derived fuels, biofuels, lubricants, asphalt emulsions, and chemical products. Until July 2019, the company was a subsidiary of Petrobras.
Today, Vibra is the largest fuel distribution company in Brazil, with Ipiranga and Raízen being two of its major competitors. It is present throughout the national territory, in all 26 Brazilian states and the Federal District, with over 8,000 service stations.
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