Shell’s $12bn biofuel firm goes ahead

first_img Show Comments ▼ whatsapp SHELL’S ethanol joint venture with Brazilian oil firm Cosan will have a market value of $12bn (£7.5bn), the firms confirmed yesterday. The firms said in a statement that a new entity called Raizen, which is due to launch in the first half of this year, will produce 580m gallons of ethanol per year for the Brazilian and international markets. The deal, which was signed in August, was given the green light by the European Commission last month. Raizen will have around $1.6bn cash inflow from Shell’s side, the statement said.The firm plans to finance its operations with a cash-raising in the market, possible through a corporate bond issue. The venture is one of Shell’s only investments in renewable energy, after the Anglo-Dutch firm dropped other projects to focus on Raizen last year. The firm plans to produce 62m tonnes of sugar a year by 2016, which will be used to produce the biofuel. Share Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndocenter_img whatsapp KCS-content Wednesday 16 February 2011 8:24 pm Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap Shell’s $12bn biofuel firm goes ahead last_img

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