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The Global Leader in Ethanol Production Has Already Sold Around 1 Billion Liters of Cellulosic Ethanol (E2G) and Celebrates Acquisition of Company in Paraguay
The ethanol giant Raízen celebrated the purchase of 50% of Barcos y Rodados, a leader in fuel distribution in Paraguay, and two new agreements for the sale of 460 million liters of cellulosic ethanol, also known as E2G, with delivery over the next nine years. The product is made from agricultural crop residues, such as sugarcane bagasse, corn cobs, and wheat straw.
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With the announcement made to the market last Tuesday, the 10th, Raízen reaches approximately 1 billion liters, which will be produced at factories to be installed in the company’s bioenergy parks.
The Shell Brand Licensee in Brazil Signs Contract to Purchase 50% of Barcos y Rodados
According to the document released, the company will pay USD 40 million at closing, and USD 90 million will be paid in 5 annual installments, totaling USD 130 million.
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At closing, a Shareholders’ Agreement between Raízen Energia and the current shareholders will also be signed, which will regulate the parties’ relations as shareholders of B&R. In this way, Raízen Energia will have the right to appoint the executive board and the majority of the members of B&R’s board of directors and will be entitled to a preferred dividend, depending on the financial performance of the business.
B&R has a network of 350 fueling stations, according to the Brazilian company.
As part of the operation, Raízen will sublicense the right to use the Shell brand to B&R, whose stations will progressively start operating under that brand,
“Raízen is currently the only global player with the capacity to produce cellulosic ethanol on a commercial scale, and the celebration of these agreements reflects the growing demand for cleaner energy sources that contribute to the decarbonization of the world’s energy matrix”, says the company.
Raízen Announces Construction of New Cellulosic Ethanol Unit in the State of São Paulo
Through the statement issued to the market, Raízen (joint venture of Cosan and Shell) announced that it will invest in the construction of its second cellulosic ethanol unit, with the capacity to produce 82 million liters per year, in the state of São Paulo.
The new cellulosic ethanol unit of Raízen, which will be integrated into the Bonfim bioenergy park, located in Guariba in the state of São Paulo, is expected to start operating in 2023 and will have double the capacity of its first factory. After the start of operations at the unit, Raízen’s total production capacity of cellulosic biofuel will be approximately 120 million liters per year.
The note published also states that, in addition to the new ethanol unit construction on site, there will also be sugar, first-generation ethanol, and electricity production from sugarcane biomass, which also houses the company’s first biogas plant, inaugurated in October 2020. The forecast is for Raízen’s E2G Plant to come into operation in 2023.
The announcement of the construction of Raízen’s new ethanol plant meets the growing demand for the product in the international market, with 91% of its volume already sold under long-term contracts with a global energy player. With mastery of the technology, Raízen will solidify itself as the only global producer operating two cellulosic ethanol plants on an industrial scale.
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