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LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOL
11th Annual World Congress on Industrial BiotechnologyPhiladelphia, PA ‐May 12‐15, 2014
Evolution and Trends in Public Policies for Industrial Biotechnology in Brazil Carlos E. Cavalcanti ‐ Head of Biofuels, BNDES
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOLBNDES in brief
The Brazilian Development Bank (BNDES) is the main long‐term financing provider in the
Brazilian economy
BNDES disbursement (2013): USD 88.1B
BNDES and Biofuels industry targets:
‐ to finance industry capacity expansion and modernization
‐ to finance cane renewal and expansion (Prorenova) and ethanol seasonal storage (PASS)
‐ to foster R&D and innovation projects
‐ to finance logistic systems targeted to optimize ethanol transportation costs
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOLBNDES and the Biofuels industry
Brazil today: 400 sugarcane mills => 700m ton capacity
From 2004 to 2013, BNDES financed 100+ new projects (expansion and greenfields)
which represent:
• Contracts: > USD 20bn
• 150 m ton of new crushing capacity (close to 50% whole expansion of sugar &
ethanol industry since 2004)
Portfolio: 130+ economic groups
Financial agents: 90 acreddited institutions
Instruments: corporate finance or project finance schemes, equity participation
(direct/indirect) and grants
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOLBNDES Disbursement to Biofuels Industry
Bank disbursement to biofuels industry over the last decade
achieved > USD 23B
Source: BNDES
USD billion
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0.20.5
0.9
1.9
3.53.2
4.23.5
2.1
3.2
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOL
Industrial 1st Gen15%
Agricultural36%
Byproducts utilization
16%
Industrial 2nd Gen14%
New Products19%
BNDES/Finep portfolio for the sugarcane industry (2010)
In 2010, the BNDES/Finep
aggregate budget reached
USD200M and only USD50M
focused on 2nd generation projects.
Source: BNDES
The Advanced Biofuels Race (Brazil)
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOL
PAISS: Joint plan (BNDES + FINEP) to finance innovation in the sugarcane‐based
biofuels and chemical sectors
Target: To foster, select and finance initiatives (business plans) that should be focused
on developing, producing and commercializing new industrial technologies to process
the sugarcane biomass
Governance & Budget: Permanent coordination of the efforts between the BNDES and
FINEP, focusing on specific research lines: BRL 1B (~ USD 500M)
Focus Points: i) Cellulosic ethanol; ii) Biochemicals and bio‐based materials; and
iii) Gasification
The PAISS Experience
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOLPAISS Milestones
1st stage:• 57 registered companies• Investment: USD 5 B
2nd stage:• 39 pre‐selected companies• Investment: USD 3 B
Final round:• 25 selected companies• Investment: USD 1.7 B
10
7
8
Selected companies
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOL
Theme Lines Projects Amount(USD B)
Line I: Cellulosic Ethanol 18 0.8
Line II: Biochemicals 24 0.8
Line III: Gasification 1 0.1
Total 43 1.7
(USD)
49%
16%
8%
27%
Contratado Aprovado Análise Perspectiva
PAISS Main Results
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOL
Company Country Funding Product Amount (USD M)
CTC Brazil Finep Enzymes,sugarcane straw collection and C5 yeasts. 133
CTC Brazil BNDES¹ Cellulosic ethanol demo plant and sugarcane varieties 173
Odebrecht Agro* Brazil Finep Cellulosic ethanol 4
VTT* Finland Finep Enzymes development 5
Metso* Finland BNDES Pre‐treatment system 10
DowDow/DSM*
USAUSA, Netherlands
FinepBNDES
Propanol and propionic acidCellulosic ethanol
210
Braskem Brazil FinepButadiene, isoprene, PEF and green propene
10
Braskem Brazil Finep 93
Methanum Brazil Finep Biogas 2
GranBioBrazil BNDES
Cellulosic ethanol150
" Finep 63
GranBio* Brazil BNDES ¹ Cellulosic ethanol and bio‐based chemicals 300
DSM*Netherlands BNDES
Succinic acid3
Finep 136
PHB Brazil BNDES Biodegradable plastics 5
Solazyme/Bunge* USA BNDES Renewable oils 123
Petrobras Brazil Finep Gasification: syngas + cellulosic ethanol 128
Eli Lilly USA Finep Enzymes development 5
Barauna Brazil Finep Fertilizers 1
¹ includes equity participation* Partnerships Total 1,356
PAISS Approvals (March’14)
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOL
Approximately USD3.5B invested in a 1,333 km pipeline (green line)
dedicated only for ethanol transportation.
New Infrastructure Facilities
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOLThe next move: PAISS Agricola
1. New varieties ofsugarcane (focuson transgenicimprovements)
3. Integrated systems for managing, planning andcontrollingproduction
5. Adapting industrial systems to
complementary crops(Ex: corn/sorghum)
4. New Techniquesfor distributing
saplings
2. Machinery & equipment for
planting
Initial Budget: USD 700M
LIVRO VERDE DO ETANOLLIVRO VERDE DO ETANOLConclusions
For more information, visit www.bndes.gov.br
In view of the increasing domestic demand and consolidation of ethanol as a sustainable
and alternative energy, intensive investment in new processes/products through
technology is paramount to guaranteeing Brazil leadership in the biofuel industry.
The positive experience of PAISS can be testified by the number of commercial plants
scaling up novel products with proven technologies.
Priority is to accelerate R&D investments in agricultural technologies, including genetic
improvement of sugarcane varieties and new machinery/equipments dedicated to
sugarcane planting & harvesting.
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