Joint Plan for Supporting Industrial Technological Innovation in the Sugar-based Energy and Chemical Sectors

Description

The Brazilian Development Bank (BNDES) and the Research and Projects Financier (Finep) signed a Technical Cooperation Agreement to carry out the Joint Plan for Supporting Industrial Technological Innovation in the Sugar-based Energy and Chemical Sectors (PAISS).

The new program, a result of the joint initiative of the BNDES and Finep, will receive R$ 1 billion for the 2011-2014 period. Its purpose is to foment projects that aim to develop, produce and commercialize new industrial technologies designed for processing sugarcane biomass.

The projects arising from the selected business plans will be supported by either or both of the institutions, based on the existing financing lines, programs and funds. That is, investors may obtain financing from the BNDES’ and Finep’s several lines and programs, in accordance with project characteristics, including equity interest through BNDESPAR. The cost to the borrower, therefore, will depend on the model of the project presented.

This is a Brazilian government initiative aimed at uniting the efforts of its main foment organs, so that the country may reach and play, in more advanced technologies, the same role already completed in conventional biofuel production. The agreement between the two institutions, as a result, will contribute to better capacity-building of coordination to support investments in innovation in the sugarcane processing industry.


source: http://www.bndes.gov.br