Monday, October 17, 2011

Shell and Brazil's Cosan Launch Multi-Billion Dollar Biofuels Joint Venture

Royal Dutch Shell, the largest oil company in Europe, and Cosan Limited, the largest sugar and ethanol processor in Brazil, have formally launched a multi-billion dollar joint venture that will become the largest producer of ethanol made from sugar cane. The joint venture, called Raizen, will operate in Brazil.

Cosan has invested $3.3 billion and Shell has invested $1.62 billion in the venture. The investments include a 15.7 percent stake in enzyme producer Codexis Inc., a developer of "super-enzymes" for the faster conversion of plant waste into transport fuels, and part of Shell’s interest in Iogen Energy, which uses enzymes to break down plant waste into ethanol. Click here to read more . . . .

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