The National Bank for Economic and Social Development (BNDES) of Brazil approved financing through the RenovaBio program for the biofuel producing companies FS Bioenergia and Alcoeste, for amounts in local currency equivalent to 19.3 and 7.7 million dollars respectively. The proceeds will be invested in energy-environmental efficiency improvements and in the certification of production processes of the biofuel plants located in Lucas do Rio Verde (Mato Grosso state) and Fernandópolis (São Paulo state).

The companies FS Bioenergia and Alcoeste have set emission reduction targets of 13%, reaching 3.4 million tons of carbon avoided per year. If the companies demonstrate that they have met these objectives, the BNDES basic interest rate can be reduced in 0.4pp to an annual rate of 0.9% (in local currency).

The RenovaBio program seeks to contribute to the increase in productivity and the diffusion of technological innovations in the biofuels sector, as well as the development of the national carbon credits market. Since its launch in 2021, the BNDES RenovaBio program has accumulated a portfolio of 12 operations and a total amount of deposits of around 195 million dollars, equivalent in local currency.