Acelen, a company backed by Mubadala Capital, plans to invest USD2.44bn over 10 years to produce “green” diesel and jet fuel in Brazil, as reported by Reuters on April 15. The biorefinery, set to begin construction in January 2024, will have a capacity of 1 billion liters per year of hydrotreated vegetable oil (HVO), a diesel-like fuel made without fossil resources from vegetable oils and animal fat. The project will help Brazil reinforce its role as a provider of renewable fuels, capitalizing on its abundant natural resources, which already includes soy-based biodiesel and ethanol from sugar and corn.

Acelen’s new biorefinery will use the existing infrastructure at its Mataripe plant, including tankage and logistics, and the port terminal for the export of new fuels. Initially, all of its renewable fuel production is expected to be exported, given the lack of regulation in the Brazilian market that makes domestic sales impossible. Acelen’s VP of institutional relations, communication and ESG, Marcelo Lyra, said that the company wants to participate in the Brazilian market for this type of fuel and aims to be a global player, given its competitiveness to operate abroad.

Sources: 

https://www.bloomberg.com/news/articles/2023-04-16/mubadala-commits-to-invest-2-5-billion-in-clean-fuel-in-brazil

https://www.reuters.com/business/energy/brazils-acelen-invest-244-billion-renewable-diesel-business-executives-2023-04-15/