São Paulo – Mubadala Capital, an asset management subsidiary of the Abu Dhabi sovereign wealth fund, Mubadala Investment Company, will invest BRL 500 million (about USD 97.82 million at the current rate) in Atvos, one of the leading ethanol companies in Brazil, in exchange for a 31.5% stake in the company. For that to happen, the FIP Agroenergia holding fund took control over Atvos and will be responsible for paving the way for Mubadala’s arrival. This Monday (30), Giovanni Forace took over as interim CEO of the ethanol company.
Mubadala Capital’s investment is expected to be allocated to the agricultural and industrial areas aiming to resume Atvos’ production capacity and surpass the mark of milling 30 million tonnes of sugarcane per harvest. In the last crop, the company milled 22.5 million tonnes from its operations in the states of Goiás, Mato Grosso, Mato Grosso do Sul, and São Paulo.
“Atvos is one of the main companies in the sugar-energy sector, and we foresee a high capacity for growth and transformation of the company, whether in operational, financial, or socio-environmental aspects,” said Forace in a release. “This transition is a milestone for Atvos, as it puts an end to any corporate conflict and consolidates the sustainability of the business towards the end of its judicial reorganization process,” he declared.
The new controller expects to progress the company’s business plan, seeking to increase its production rates to generate more security and value for shareholders, customers, partners, employees, and other company stakeholders.
Atvos is a bioenergy company, one of the largest ethanol producers in the country. Using sugarcane as the raw input, the company can produce around three billion liters of ethanol and 700,000 tonnes of (gross) Very High Polarization (VHP) sugar, in addition to cogenerating approximately 3,100 GW/h of electrical power from biomass. The company has over 9,000 employees.
As a relevant player in the generation of clean and renewable energy, the company is one of the top national issuers of decarbonization credits (CBIOs), having renewed the RenovaBio certification of all its agroindustrial plants until 2025. Also on the socio-environmental front, it has the Social Energy branch, which supports projects focused on topics such as education, culture, health, safety, environment, and productive activities in the communities where it operates.
Translated by Elúsio Brasileiro
