GranBio, through its subsidiary Bioflex Agroindustrial, has secured a $149 million loan from Brazil's National Social and Economic Development Bank for the development of the country's first industrial-size second-generation ethanol plant. The Gradin family, owners of GranBio, will shoulder the rest of the $172 million needed to construct the plant. Located in Sao Miguel dos Campos, the ethanol plant will use excess bagasse and leftover sugarcane crop residue in production.

Related Summaries