The entrepreneur’s investment group pledged to contribute to $ 500 million in a “Supercana” project designed by the entrepreneur, announced executives involved in the business on Tuesday (25) at an event in Rio de Janeiro.
The project promises to use a genetic crossing technology, which would allow the production of up to three times more ethanol per hectare and up to 12 times more bagasse per hectare, according to these executives.
With the contribution of brasilinvest, which featured funds from Abu Dhabi Investment Group (Adig), the United States, the United States, the company that owns the BRXE project plans to develop 70,000 hectares of “Supercana” and three sugarcane grinding units of 4 million tons each.
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Under the project, the venture would have an annual production capacity of 1.08 billion liters of ethanol and 537.6 million liters of sustainable aviation fuel (SAF) in 2031.
The announcement of the project, made at the restaurant of Eike Batista Mr. Lam, in the carioca neighborhood of Lagoa, had a presentation of more than 80 pages of the businessman, who will not initially partner, due to legal problems, but will be entitled to posterior subscription subject to performance.
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“You imagine producing up to three times more ethanol per hectare and up to 12 times more bagasse depending on the terroir. Brazil is very large, has more and less dry areas, but minimal productivity is already spectacular, ”said Batista, who said he had” intelligence “in the project.
Garnero announced the contribution to the event through a recorded video as it is recovering from recent health problems.
The company Brxe, which will receive the contribution, today is detained by Luis Rubio and Sizuo Matsuoka, who have been studying new varieties of sugarcane for over a decade, according to Rubio, present at the event. In the transaction, Garnero will hold 40% of the company, while the rest will remain in the hands of the former partners.
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Cane -based projects with greater biomass content, aiming at more ethanol production than sugar, were seen as more promising in the past, before the sector focuses more on the sweetener, which has paid more than biofuel in recent years . But the idea presented by Eike seeks to take advantage of the raw material for the production of SAF, whose demand has the potential to be explosive if the air sector brings below its decarbonization goals.
“We develop what we call supercan, which are varieties that have a little less sugar, but produce much more biomass per hectare, which is what matters,” said Rubio.
Brxe, according to Rubio, has invested more than 350 million reais in Supercana.
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The businessman pointed out that, along with Eike, Brxe has developed nobler uses for biomass, also predicting the creation of packaging factories in Brazil and abroad.
The idea is that industrial facilities to produce sugarcane derivatives are established in the north of the state of Rio de Janeiro, near the port of Açu. The company will still close contracts for land use and, according to Rubio, there are already in progress negotiations.
Currently, Brxe has 53 employees and 200 hectares where sugarcane plantations are in the cities of Paraguaçu Paulista and Araras, in São Paulo. Rubio estimates that the company starts bringing Supercana seedlings to Rio de Janeiro later this year.
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Brxe will also be able to invest in another 70,000 hectares module, with resources that can be raised from the launch of a token on Solana’s blockchain network, whose initial sales started today.
