Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Agriculture

Bunge and BP form biofuel venture

by Melody M. Bomgardner
July 26, 2019 | A version of this story appeared in Volume 97, Issue 30

Photo shows a Brazilian farmer on his tractor.
Credit: BP
A farmer in Brazil prepares a field for sugarcane planting.

Agriculture products giant Bunge has formed a Brazilian biofuel joint venture with BP. Called BP Bunge Bioenergia, the 50-50 venture will operate 11 sugarcane mills—8 from Bunge and 3 from BP. Bunge will receive $75 million, and the venture will take on $700 million of Bunge’s debt. The mills produce sugar and ethanol and sell surplus biomass-based energy to the electric grid. The deal will grow BP’s biofuel business while helping Bunge reduce its exposure to sugar milling, the companies say.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.