January 22, 2013
BNDESPar has agreed to buy a BRL600m ($294m) stake in of GraalBio, a Brazil
BNDESPar has agreed to buy a BRL600m ($294m) stake in of GraalBio, a Brazilian biotechnology firm, it says. The investment arm of the BNDES development bank gets shares worth 15% of the company, which specializes in second-generation ethanol and biochemicals. It is BNDES' first investment in this area, in which biofuels which are made using residue from wood, corn, sugarcane bagasse and wheat straw. GraalBio plans BRL4bn in investments during the next six years.