RIYADH: Brazilian bioenergy company Raizen will invest 2 billion reais ($390 million) to build two “second-generation” ethanol plants to turn waste into biofuel amid a growing demand for clean-energy supplies.
Operations are expected to start in 2024, Bloomberg reported citing CEO Ricardo Mussa.
The facilities will take waste from turning cane into sweetener and use the leftovers to make the fuel, he added.
This comes as part of the firm’s efforts to deliver 20 second-generation ethanol plants by 2031.