January 22, 2013

BNDES invests $294m in GraalBio

This is all over the news today as Brazilian development bank Banco Nacional de Desenvolvimento Economico e Social (BNDES) announced yesterday another hundred million dollars loan approval this time with Brazilian cellulosic biomass technology developer GraalBio following another announcement last week  on approving a $120m loan for the Solazyme Bunge joint venture.

BNDES said its holding company BNDESPAR will buy a 15% stake in GraalBio for Reais 600m ($294m), and the right to appoint a member of the board in the company. Over the next six years, GraalBio plans to invests Reais 4bn in cellulosic ethanol, bio-based chemicals, and development of technologies that use biomass for feedstock.

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