Brazil’s Atvos plans record investment to boost ethanol production
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In Brazil, Bloomberg reported that Brazilian ethanol producer Atvos is investing to increase ethanol production in Brazil.
The company plans to invest $320 million this year and $300 million a year each in 2024 and 2025, according to the report.
The goal of the investment program is to increase processing closer to 32 million metric tons per year after capacity was stalled. This year, the company plans to process 26 million to 27 million tons of sugar cane.
The report noted that the firm received $100 million from Mubadala Capital that will be used for investments and acquisitions.
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