BP has decided to heavily invest in Biofuels and has bought into the chain from the very first stages investing in to sugar cane itself right up to the plants to produce the ethanol. They have today announced that they are investing in Brazilian plants.
derived from existing leased sites by the company and no new rainforest
The British oil multinational has partnered Brazilian agribusinesses, Santelisa Vale and Maeda Group and have invested more than $560 million (£284 million) in Tropical Bioenergia a company to farm and exploit the land of Brazil to produce ethanol. The ethanol is used to add to vegetable oil before being catalysed into biofuel.
Biofuel is now said to be in increasingly high demand in The USA where ecologically minded consumers are growing rapidly.
Phil New, head of BP Biofuels told reporters that 80% of the ethanol would be derived from existing leased sites by the company and no new rainforest was under threat.
BP has distributed Biofuels for some time but this is the first time it has invested heavily in its creation and manufacture from the raw materials.
