Brazil’s Petrobras to invest $400m in biofuels

09 June 2011 00:20  [Source: ICIS news]

SAO PAULO (ICIS)--Brazil’s energy giant Petrobras will invest $400m (€272m) in biofuels in 2010-2014, the company said on Wednesday.

Petrobras stressed its commitment to invest in biofuels research and development, including the reuse of glycerine as well as biofuels used in aviation.  

Petrobras said projects are under way to use algae to make oil feedstock for biofuels and to develop biotechnology platforms.

The company added that it is focusing on developing second-generation biofuels, including cellulosic ethanol produced from cane bagasse.

Petrobras, which began its biofuels projects in 2004, has a joint venture with Novozymes for their enzyme technology and partnered with KL Energy on testing and technology development, the company said.

($1 = €0.68)

By: Hellen Berger
+1 713 525 2653

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