Mubadala Capital, the wholly-owned asset management subsidiary of Abu Dhabi sovereign investor Mubadala Investment Company, has taken a significant step towards advancing sustainable energy initiatives with an MOU signed with Petrobras, the Brazilian state-owned petroleum company.
This Memorandum of Understanding paves the way for a potential investment in a groundbreaking biofuel project situated in Bahia, Brazil. At the heart of this collaboration is a biorefinery project to produce renewable and sustainable aviation fuel. This fuel will be derived from the native Brazilian crop Macauba, offering a green alternative to traditional aviation fuels.
Oscar Fahlgren, Chief Investment Officer and Head of Brazil at Mubadala Capital highlighted the transformative potential of renewable energy sourced from crops. He stated that this innovative project has the power to benefit Brazil and reshape the global energy landscape for generations to come.
Fahlgren emphasized the shared commitment of Mubadala Capital and Petrobras to the ongoing energy transition. This collaboration underscores their dedication to accelerating the shift towards a sustainable future by producing a novel, carbon-neutral product.
The project aligns with global efforts to reduce carbon emissions and transition to cleaner energy sources. It represents a significant stride towards creating more sustainable aviation fuels, a key focus area in pursuing greener aviation practices.
Mubadala Capital’s exploration of this biofuel initiative reinforces its role as a forward-thinking player in the global energy transition landscape, demonstrating its commitment to sustainability and innovation.
