Brazil offers $1 billion to boost sustainable fuel production
Brazil’s government has allocated $6 billion (US$ 1.09 billion) to fund biorefineries producing Sustainable Aviation Fuel (SAF) and sustainable marine fuels. The investment, split equally between BNDES and FINEP, invites proposals from Brazilian companies for projects in sustainable fuel production. The competitive funding supports research, pilot plants, and related expenditures, with applications due by October 31.
The Brazilian government has announced $ 6 billion (US$ 1.09 billion) to finance the construction of biorefineries focused on producing SAF and sustainable marine fuels, reports Ethanol Producer Magazine.
The investment will come from Brazil’s National Bank for Economic and Social Development (BNDES) and FINEP, a government funding agency, with both institutions making an equal investment of R$ 3 billion into the initiative.
By now, both Agencies have published a public call for proposals to which business plans, aimed at developing and implementing biorefineries to produce either SAF or sustainable marine fuel, are being invited. This funding opportunity is on a competitive basis for Brazilian companies that work in fuel production or related research and development activities concerning sustainable aviation or marine fuel technologies.
An award could be directed to spend on the activities and related expenditures of research, technological development, and engineering projects; pilot plants; working capital including shares of machinery and equipment; and other related forms. The deadline for applications is October 31.
Source Link : https://bioenergytimes.com/brazil-offers-1-billion-to-boost-sustainable-fuel-production/
