In Brazil, Reuters reports Raízen is moving forward with an out-of-court debt restructuring plan that includes a proposed $699 million capital injection from Shell and a potential additional investment from billionaire Rubens Ometto’s Aguassanta holding. The plan also calls for converting 45% of restructured debt into equity at a discounted share price. Creditors and bondholders […]
In Brazil, Bloomberg reports Raizen isn’t out of the water yet as debt holders have demanded 90% of the company in exchange for refinancing just 45% of the company’s debt, compared to the previous 70% that Raizen had already offered for the debt to equity swap. Unibanco and Banco Bradesco are threatening to stop financing […]
In Brazil, Reuters reports Raizen has announced a plan to restructuring $12.6 billion in debt in an out-of-court restructuring agreement that already has 47% of debt holders onboard. The company has 90 days to secure the agreement of the remaining debt holders. Without the restructuring deal, the world’s largest sugar producer is concerned about its […]
In Brazil, Novacana reports that after several months of speculation, Raízen announced the sale of the Leme mill, located in the city of the same name in São Paulo. The unit was acquired in cash by Ferrari Agroindústria and Agromen Sementes Agrícolas for approximately R$425 million, which must be paid upon closing of the transaction. […]
In Brazil, Bloomberg reports that in response to the Brazilian central bank raising interest rates by nearly 3 percentage points over the past five months, Raizen is reconsidering its portfolio, looking to offload assets and put on hold construction plans for new ethanol plants as it seeks to reduce its debt. It will continue to […]
In Bulgaria, Renewables Now reported that Brazil’s National Social and Economic Development Bank (BNDES) approved $163 million in financing for the construction of a plant for the production of second-generation cellulosic ethanol (E2G) by Raizen. The report noted that Raizan will build a plant with a capacity of 82 million liters of cellulosic ethanol per […]
In Brazil, Raízen inaugurated its new Second Generation Ethanol plant at the Bonfim Bioenergy Park in Guariba (SP) on Friday. With an investment of R$1.2 billion, the company’s second cellulosic ethanol plant is the largest in the world and has already contracted 80% of its volume over a production capacity of 82 million liters per […]
In Brazil, Raízen, Shell and SENAI announced an investment for the construction of the Bioenergy Center, located in the planned neighborhood of Reserva Jequitibá, in Piracicaba. The groundbreaking event marked the beginning of construction on the modern set of laboratories and pilot plants, which will be located at the epicenter of the agribusiness innovation ecosystem, […]
In Brazil, Raízen and Vertoro, a Dutch biotechnology accelerator, recently announced the signing of a Joint Development Agreement (JDA) to enhance the value of lignin by transforming it into advanced, sustainable biofuels, chemicals, and materials. As a second-generation feedstock, Lignin boasts a very low carbon footprint, making it an ideal solution for decarbonizing hard-to-abate sectors. […]
In Brazil, biofuels major Raízen has partnered with Dutch biotechnology accelerator Vertoro (JDA) to enhance the value of lignin in sustainable biofuels, chemicals, and materials. As the world’s largest producer of second-generation ethanol, Raízen generates substantial amounts of lignin as a by-product from its ethanol operations. Under the terms of the Joint Development Agreement, Vertoro […]
