Brazil's BNDES to pour $294M into cellulosic ethanol project

01/21/2013 | Reuters

Brazilian development bank BNDES will inject $294 million into GraalBio's proposed cellulosic ethanol plant in Brazil's Alagoas state. In exchange, the bank will get a 15% stake in GraalBio and a seat on the company's board. The facility, which is expected to have a generating capacity of 22 million gallons per year, is due to open in early 2014, BNDES said.

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