Brazil Doubling Sugar-Cane Biomass Research Plan to $988 Million

By Stephan Nielse,  Bloomberg:

BNDES, Brazil’s national development bank, and the research-financing agency Finep plan to provide 2 billion reais ($988 million) for ventures developing new techniques to process sugar cane into fuel and specialty chemicals through 2014, double the initial plan.

The two government agencies may approve 300 million reais in loans and grants for projects this year, 700 million reais in 2013 and 1 billion reais in 2014, Carlos Cavalcanti, head of biofuels at Rio de Janeiro-based BNDES, said in an interview at a conference in Sao Paulo yesterday.

The agencies are expanding support for the research program in response to growing interest in converting cane residues into useful products, he said… Read more

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