Acelen Renewables, a newly established environmental initiative launched by global asset management firm Mubadala Capital, is to launch what it terms its ‘visionary blueprint for the future of low-carbon energy’ at the COP28 summit.
The Seed-to-Fuel project (which is described as a ‘fully sustainable plant-based initiative’) is the first biological fuel from a native Brazilian seed, macaúba, which will be combined with other raw materials to create sustainable aviation fuel and renewable diesel.
With an investment of more than R$12 billion (USD $2.5 billion), the project claims the potential to capture up to 60 million tons of C02 from the atmosphere through the cultivation of 200 thousand hectares of cultivated green areas. Acelen believes the finished product represents ‘the most sustainable solution to the predictable energy deficit in aviation’.
The company plans to start building its new biorefinery in 2024, with first fuel deliveries scheduled for 2026.