Stratos to make investment in Brazil
Date added: 11th February, 2010 at 09:02
(view all articles from February, 2010)
Categories: Natural Resources
US venture capital company Stratos Group is to make a biofuels investment in Brazil.
The firm will put $5.4 million (£3.4 million) of cash into biofuels producer Amyris Biotechnologies as part of a larger investment in Brazil, reports Reuters.
Amyris has bought a 40 per cent stake in a cane mill in Boa Vista in a £48.4 million investment in Brazil.
The company plans to spend the money invested by Stratos on building a state-of-the-art biofuels plant, which will enable Amyris to produce biodiesel from Brazilian sugar cane resources.
Brazil's large sugar cane resources have helped it to become one of the biggest biofuels producers in the world and one of the most attractive economies for investors.
The economy in Brazil was not as badly hit by the global financial slowdown as most and the latest forecast from the International Monetary Fund (IMF) shows predicted growth of 4.7 per cent during 2010.
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