BNDES provides $63.5M to FS for CCS at its corn ethanol plant in Lucas do Rio Verde

In Brazil, National Bank for Economic and Social Development (BNDES) approved R$ 384.3 million to support the innovative project of the FS Indústria de Biocombustíveis Ltda. of raising and stocking CO 2 2from the production of corn ethanol in Lucas do Rio Verde (MT).

With resources from the BNDES Mais Inovação program, FS will build a pioneering unit capable of compressing, injecting and storing CO 2 underground, definitively and in adequate depth, in the saline sedimentary reservoirs of the Parecis Basin, underlying the industry region. The project is the first in the country and uses the technology called Bioenergy with Carbon Capture and Storage (BECCS), derived from a process already used in the industry, Carbon Capture and Storage (CCS).

With the pioneering implementation of the project, FS aims to remove 100% of its CO 2 emission (about 423 thousand tons per year) from the Lucas do Rio Verde unit. In addition, the company will have the potential to produce the world’s lowest carbon fuel, since the implementation of a BECCS project would be allied to the use of 2nd crop corn and renewable biomass.

Tags: BNDES, Brazil, CCS

Category: Fuels