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Oil jv secures financing

5:41 AM MST | January 25, 2013

Renewable oils firm Solazyme and agrobusiness giant Bunge say their tailored oils joint venture has received approval from the Brazilian Development Bank for 245 million reais ($120 million) in project funding to support its first commercial-scale production facility in Brazil. The 100,000-m.t./year facility is currently under construction adjacent to Bunge’s Moema, São Paulo, sugarcane mill. It is expected to come online in the fourth...

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