Monday, March 16, 2015
Ceres Signs Ethanol Deal In Brazil
Thousand Oaks-based agricultural biotechnology developer Ceres said this morning that it has inked a deal with Brazilian energy company Raizen S.A., where the two will develop and produce sweet sorghum on an industrial scale. The sorghum will be used to complement existing feedstock at Raizen's sugarcane-to-ethanol mills. Financial impact of the deal was not announced, however, the two said that each of the companies will provide in-kind services and resources, and share revenue from the ethanol produced from Ceres' sweet sorghum. Raizen is a joint venture of Royal Dutch Shell and Cosan. Ceres uses biotechnology to develop seeds specifically optimized for biofuels and other uses.