Brazil’s development bank invests $293 million in cellulosic ethanol firm

Brazil’s economic development bank BNDES (Rio de Janeiro) is investing 600 million reais ($293 million) in biotechnology company GraalBio Investimentos. The funds will be used to invest in cellulosic ethanol production capacity as well as R&D, according to local press reports. BNDES will make the investment gradually, in line with business plan benchmarks. In exchange, BNDES will take a 15% share in GraalBio’s total capital, the reports say. In addition to cellulosic ethanol, the money will be used for R&D aimed at technologies for more efficient...

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