Sumitomo to Acquire Up to 20 Percent Stake in Cosan’s Biomass Unit

Sumitomo Corp. will acquire as much as 20 percent of Cosan Biomassa SA, a subsidiary of the world’s largest sugar company Cosan SA Industria e Comercio, Sumitomo said in a statement Friday.

Cosan Biomassa, based in Sao Paulo, Brazil, produces and distributes sugarcane biomass pellets for power generation, according to the statement. Financial terms weren’t disclosed.

Sumitomo’s investment will help Cosan Biomassa expand exports to Japan and Europe as well as sales in Brazil, according to the statement.

© 2016 Bloomberg

Lead image: Sugarcane stalks. Credit: Shutterstock.


Previous articleStates Support Clean Energy for Low-Income Residents
Next articleHartek Power Connects 28 MW of Solar Projects to Grid in Punjab
Copyright 2018 Bloomberg

No posts to display