Mubadala-backed Atvos will build a biomethane plant in Brazil
Brazilian sugarcane processor Atvos, which is backed by Abu Dhabi’s Mubadala Capital, will build a USD 69.4 mn biomethane factory in Nova Alvorada do Sul in Brazil, Reuters reported on Thursday. Atvos already owns an ethanol factory at this location.
The details: The biomethane plant will run on sugar cane waste and is expected to have a 28 mn cubic meter capacity per crop. Final approval is pending an engineering analysis, but the project should be underway this year.
Mubadala and Atvos are long-time friends: Mubadala Capital — the asset management arm of UAE investor Mubadala Investments — acquired Grupo Novonor’s 6.85% stake in Atvos back in October, bringing its total stake to 38.35.
Going big on Brazilian green fuels: Abu Dhabi’s Mubadala Capital-backed Acelen said in April that it will invest up to USD 2.4 bn over the next 10 years to produce green diesel and sustainable aviation fuel in Brazil. Mubadala Capital withdrew from bidding for ethanol JV BP Bunge Bioenergia last year, with reports suggesting that the UAE state investor dropped out after concluding negotiations to acquire Atvos.
