Brazilian ethanol projects receive funding

By | September 08, 2008
Two companies announced they had secured funding to move forward with Brazilian ethanol projects in July. Dallas-based Southridge Enterprises Inc. formed a partnership with Durmundo Carasca SA to construct and operate an ethanol facility in Brazil. Durmundo Carasca will contribute $5 million and acquire 15 percent ownership in the facility. Southridge Enterprises has an additional joint venture agreement with Briskul Transaccao Ltd. for the project. Likewise, Brazilian biofuel producer Comanche Clean Energy secured $85 million in a private placement round of financing to expand its sugarcane-based ethanol facility in So Paulo, Brazil, to approximately 26 MMgy.