BP, Santelisa Vale, and Maeda Unveil Plans to Invest R$1.66 Billion in Biofuels
BP announced today that it intends to take a 50 per cent stake in Tropical BioEnergia SA, a joint venture established by Brazilian companies Santelisa Vale and Maeda Group, which is constructing a 435 million liter (115 million gallons) a year ethanol refinery in Edéia, Goias State, Brazil.
Notes to Editors:
- Transport accounts for around 21 per cent of all carbon dioxide emissions.
- BP is of one of the world's largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. It is the largest oil and gas producer in the U.S. and one of the largest refiners. BP also has a global network of around 25,000 service stations.
- BP is a leading player in the global biofuels market. In the US, BP has blended and distributed 763 million US gallons of ethanol and about 1 million US gallons of biodiesel in 2007. In Europe, BP has sold 344 million liters of ethanol and 847 million liters of biodiesel in 2007. BP’s sales of biofuels in 2007 accounted for about 10% of the global biofuels market.
- Maeda Group is recognized worldwide as being one of the most vertically integrated players in the cotton value chain with 80 years in the industry. The Company has one of the few cotton seed crushing businesses in Brazil, producing several products from cotton seeds: Vegetable oil, which contains no “trans fat” and is used as input in the food industry, Linter (the material around the cotton seeds) used for special products such as money paper and LCD screens and cotton seed meal, used as animal feed.
- Santelisa Vale, Brazil’s second largest sugar and ethanol producer and first in energy cogeneration from bagasse, expects to crush 18 million tons of sugar cane in 2008. The company will produce 25 million bags of sugar and 770 million liters of ethanol. Santelisa Vale also produces and sells a surplus of 420,000 Mwh of electricity from sugar cane bagasse – enough to supply a population of 1 million per year. The company, with over 70 years of history, is a leader in technology and innovation within the segment.
- Santelisa Vale and Maeda Group were advised by ING Bank.
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