Brazil’s first corn ethanol project FS Bioenergia built jointly by Fiagril and Summit Agricultural Group with an investment of $115m has commenced operations.
The ethanol production facility located in the state of Mato Grosso at Lucas do Rio Verde is expected to cover the growing demand for ethanol in Brazil. Besides, the corn ethanol project will provide new feed options to the Brazilian livestock industry.
Apart from ethanol and co-products for livestock feed, FS Bioenergia will produce 60GW of electricity to the local power grid.
Fiagril founder Marino Franz said: “This is a transformative moment for both agriculture and the renewable fuels industry in Brazil.
“FS Bioenergia will not only meet Brazil’s growing demand for ethanol but it sets the stage for Mato Grosso to become a global leader in the production of corn ethanol.”
FS Bioenergia will process 22 million bushels of corn and produce over 60 million gallons of corn ethanol each year during its initial phase of operations. Apart from that, it will produce 170,000 tons of feed rations for the emerging livestock industry in Brazil.
Summit Agricultural Group founder and CEO Bruce Rastetter said: “FS Bioenergia is the most modern and efficient ethanol production operation in the world and will revolutionize the biofuels landscape in Brazil.
“Summit Ag Group and Fiagril are proud to have delivered this historic project to Mato Grosso, and we look forward to the development of the region as a leader in ethanol, corn and livestock production.”
The Brazilian corn ethanol plant is expected to double its corn processing and ethanol production through its second phase of operations by 2018. Construction of the corn ethanol plant had begun in early 2016.