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A San Paulo, Brazil ethanol company, Brenco, has raised $200 million in financing from investors including big-name U.S. investors such as Vinod Khosla, supermarket magnate Ron Burkle and AOL co-founder Steve Case.
The new company, aims to become one of the largest ethanol producers in the world, apparently wanting to reach an annual output of 1 billion gallons within ten years, according to Dow Jones.
Brazi’s sugar-based ethanol is more efficient than the corn-based ethanol produced in the U.S.
Full story at Dow Jones. We’re not clear whether the investment came directly from the individuals, or from funds that they manage or are associated with (Khosal Ventures, for example).
Brenco will have its official headquarters in Bermuda.