Brazil’s national development bank, BNDES, has cleared a direct investment worth BRL 85.8 million (around USD 16 million) to support the expansion of Bioo Investimentos e Participações SA, a company engaged in producing biomethane from agricultural waste, reports Bioenergy Insight.
The investment, made through BNDES’s subsidiary BNDES Participações SA, will give the bank a 19.9% ownership stake in Bioo.
Bioo converts agricultural organic waste into biomethane, biogenic carbon dioxide and biofertilisers. According to BNDES, the funding will be used to build two additional Integrated Waste Treatment Centres (CTIR).
BNDES President Aloizio Mercadante said the new facilities are expected to provide substantial environmental benefits. He explained that each biomethane plant “could lower carbon emissions by an amount similar to the electricity used by up to 20,000 homes in a year.”
