Solazyme JV gets Brazilian Bank’s funding approval renewable oil facility

Solazyme JV gets Brazilian Bank’s funding approval for renewable oil facility

7:25 AM, 18th January 2013
Solazyme JV gets Brazilian Bank’s funding approval for renewable oil facility

SOUTH SAN FRANCISCO, US: Solazyme Bunge Renewable Oils, Solazyme’s joint venture with Bunge Global Innovation LLC, has received approval for project financing in the form of a loan from the Brazilian Development Bank (BNDES) of R$245,699,000 ($120 million). The BNDES funding will support the joint venture’s first commercial-scale renewable oil production facility in Brazil, which is being constructed adjacent to Bunge’s Moema sugarcane mill in Sao Paulo state. The 8-year loan will have an average interest rate of approximately 4 per cent per annum.

“Solazyme Bunge Renewable Oils is committed to commercializing innovative tailored oil technology in Brazil. This financing from BNDES highlights the significant value that the joint venture can bring to the Brazilian economy,” said Rogerio Manso, Chief Commercialization Officer, Solazyme.

© WOC News 



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

KBR bags Cambodian Petrochemical’s Veba Combi Cracker contract

HOUSTON, US: KBR was awarded a contract by Cambodian Petrochemical Co Ltd (CPC) to provide licensing and engineering services for the Veba Combi Cra ...

Read more
BASF, Zelfo Technology JV for micro-fibrillated cellulose

LUDWIGSHAFEN/FRANKFURT, GERMANY: BASF and Zelfo Technology have signed an agreement for the transfer of IP rights of the latest Zelfo processing techn ...

Read more
Messer, Sichuan Meifeng invest $9.6 million in CO2 plant in China

SHANGHAI, CHINA: Messer Group and the Chinese chemical company Sichuan Meifeng have signed a joint venture agreement on 15 January 2013 for the format ...

Read more
DuPont Titanium, Omya sign distribution agreement in US

WILMINGTON, US: DuPont Titanium Technologies announced a new distribution agreement with Omya Inc. Omya, through its subsidiary companies Durr Marke ...

Read more
JGC-led JV bags refinery and petrochemical contract in Vietnam

YOKOHAMA, JAPAN: The joint venture of JGC Corporation, Chiyoda Corporation, Technip, GS Engineering & Construction and SK Engineering & Constr ...

Read more
Croda acquires Innovachem for $2.8 million

LONDON, UK: Croda International has acquired the assets of Innovachem for $2.8 million. According to the company, the acquisition is an excellent stra ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X