The biofuel developer’s venture, located at Dombe, Mozambique, will have the capacity to produce 60 million gallons of sugar cane-based ethanol a year once the vertically-integrated project is operational. The US-based investment fund said the project in the former Portuguese colony, which gained independence in 1975, will be environmentally sustainable.
"The PEL model demonstrates the next generation of biofuel development, using one of the most efficient sources of ethanol - sugarcane - to produce badly needed fuel for the European Union and the United States,” Tom Soto, a Craton managing partner said.
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