Mubadala Capital and the Brazilian state-owned petroleum company Petrobras have signed an MOU for potential investment in a biofuel project in Brazil, aiming at transforming the production of renewable energy from crops.
“The production of renewable energy from crops has the potential to positively transform Brazil and the global energy landscape for generations to come,” Oscar Fahlgren, chief investment officer and head of Brazil, Mubadala Capital, said.
“This agreement underscores Mubadala Capital and Petrobras’ shared commitment to energy transition, and we are excited to work alongside Petrobras to create a novel, carbon-neutral, product that will speed up the transition into a sustainable future.”
The agreement between the two parties came after the development of a biorefinery project to produce renewable and sustainable aviation fuel derived from the native Brazilian crop Macauba.
Mubadala Capital, a subsidiary of Mubadala Investment Company, was launched in 2011. It is currently operating four businesses including Private Equity, Venture Capital, and Alternative Solutions, and a Brazil-focused investment business.
The investment entity is managing approximately US$ 13 billion in third-party capital vehicles on behalf of institutional investors in all of its businesses.
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