São Paulo – Acelen, the energy company that owns the Mataripe refinery, founded by Mubadala Capital, intends to invest over BRL 12 billion (about USD 2.43 billion at the current rate) in Brazil in the next ten years to produce renewable fuels. A Memorandum of Understanding (MoU) was signed this Saturday (15) in Abu Dhabi, in the United Arab Emirates, during the visit of Brazilian president Luiz Inácio Lula da Silva to the country.
Mubadala Capital is a subsidiary of Abu Dhabi-based Mubadala Investment Company. In the presence of Lula and the UAE president and emir of Abu Dhabi, Mohamed bin Zayed Al Nahyan, the governor of Bahia, Jerônimo Rodrigues (PT party), signed the MoU with the CEO and executive director of Mubadala Investment Company, Khaldoon Khalifa Al Mubarak (pictured above). The Mataripe Refinery is located in Rorigues’ state.
According to Acelen, expectations are for producing 1 billion liters of renewable fuels a year, contributing to the generation of 90,000 direct and indirect jobs, and reducing CO2 emissions by up to 80% by replacing fossil fuels, making the company one of the world’s-biggest producers of renewable fuels in the world.
The investment could enable the production of renewable diesel and sustainable jet fuel, produced through hydrotreatment of vegetable oils and animal fat. The company is expected to start production in the first quarter of 2026. The project was structured to have full synergy with the Mataripe refinery, taking advantage of the existing facilities, tanking, and logistics infrastructure.
Translated by Elúsio Brasileiro
