The Indian company Godavari Biorefineries captured about US$ 15 million to expand its portfolio of products based on sugarcane.
The company’s intention is to strengthen the capital inflows through products with sustainable bias. The focus is to expand the production of chemical compounds derived ethanol, such as paraldehyde, crotonaldehyde, ethyl acetate and acetaldehyde.
The amount was acquired through fund managed by Mandala Capital.
The first stage of this expansion involves the construction of a new mill designed to produce these chemicals and ethanol. On the unit there will be a research and development center focused on optimizing the sugarcane production.
Comprising by three mills totaling annual production of 70 million liters of ethanol, the new unit of Godavari Biorefineries strengthen the current place of the largest ethanol producer station in India.