Quantcast





RSS
April 29, 2008 | Jim Lane | Comments 1

Brazil’s Brenco projects $3.2 billion from IPO this year or in 2009

In Brazil, Brenco said that it expects to raise $3.2 billion from an IPO no later than 2009, and will use the proceeds to construct 10 ethanol plants by 2015 with a planned capacity of 1 billion gallons per year. The company has invested more than $1 billion to date in the construction of four plants in Mato Grosso, Mato Grosso do Sul and Goias, from proceeds of private placements that have snagged investors such as Bill and Hillary Clinton, Vinod Khosla, Ron Burkle, and Goldman Sachs. The company will construct a 650-mile pipeline from Mato Grosso to Santos in an additional $1 billion investment.

A Brenco plant connected to an investment group including former US President Bill Clinton has been described as providing “degrading” conditions for its field workers. Brazil Renewable Energy, or Brenco, said that it was addressing the problems. President Clinton and his wife Sen. Hillary Rodham Clinton have an investment listed at between $15,000 and $50,000 in the plant, through the Yucaipa Company controlled by Ron Burkle. Yucaipa owns 2.8 percent of Brenco.

Burkle has raised more than $100,000 for the Clinton presidential campaign, and Senator Clinton has sponsored legislation to provide massive government investments in ethanol. Yucaipa has, in turn, invested in numerous ethanol companies, including Cilion.

Former US President Bill Clinton’s Clinton Global Initiative, is highly active in international biofuel policy, and his ties to Ron Burkle’s interested have been widely reported. However, the Clintons reduced ties with Burkle as the campaign got underway. President Clinton’s Vice-President, Al Gore, recently won the Nobel Peace Prize for his activities in behalf of climate change.

Free Subscription to the Daily Biofuels Digest e-newsletter


bdnl091008Subscribe FREE to the world's most-widely read biofuels daily. Enter your email in the box below,
or click here to subscribe:

Related Stories


  • Petrobras, ETH Bioenergia, pursuing Brazil’s Brenco in ethanol realignment
  • In Brazil, Petrobras confirmed yesterday that it has entered into talks of partnership and/or investment with Brenco, the Brazilian ethanol producer that counts AOL founder Steve Case, Vinod Khosla an...
  • Brenco announces Brazilian sugarcane ethanol distribution with Netherlands’ Lyondell Basell; investigating pipeline, two more ethanol projects
  • In Brazil, Brenco announced a multiyear agreement to sell sugarcane ethanol to the Netherlands' Lyondell Basell, which will distribute fuel to the US. Brenco is constructing 100 Mgy in ethanol capacit...
  • Mitsui, Petrobras and Camargo Correa partner on $1.5 billion Brazilian ethanol pipeline
  • In Brazil, Mitsui, Petrobras and Camargo Correa have combined their pipeline building efforts into a single entity, PMCC, that will link Uberaba in Minas Gerais to the sugarcane processing center of P...
  • ETH Bioenergia, Brenco discuss merger
  • In Brazil, ETH Bioenergia and Brenco announced that they are exploring a merger that would create a company with 660 Mgy in ethanol capacity and an ability to process 37 million tonnes of sugar cane p...
  • Brazil’s sugarcane boom in trouble; land prices falling, projects delayed
  • In Brazil, the end of the commodities boom, with the resultant fall in ethanol and sugar prices, has caused the price of land to drop in Brazil by up to 50 percent in some sugarcane growing areas, acc...
  • Clintons among investors at Brazilian ethanol plant with “degrading” worker conditions
  • In Brazil, an ethanol plant connected to an investment group including former US President Bill Clinton has been described as providing "degrading" conditions for its field workers. Brazil Renewable E...

    Hot Topics


    The Hottest 50 Companies in Bioenergy
    Latest algae-to-energy news
    Latest jatropha news
    Latest Waste-to-energy news

    Entry Information