Sumitomo Corporation Invests in Biomass Fuel Manufacturing Business in Brazil
Summary
Such investments in renewable energy are increasingly important with Japans commitment to reduce its greenhouse gas emission by 26% by 2030 as part of the Paris Climate Treaty. Pelletized biomass is a new commodity being created to serve the low carbon economy," said Mark Lyra, Cosan Biomassa CEO. "By making use of sugarcane residues and benefiting from the economic and environmental advantages that the shift to rail logistics brings to the game, Brazil is positioned to become the Saudi Arabia of renewable energy." Its core business units are Metal Products, Transportation & Construction Systems, Environment & Infrastructure, Media, Network, Lifestyle Related Goods & Services, Mineral Resources, Energy, and Chemical & Electronics. As an integrated business enterprise, the firm has emerged as a major organizer of multination projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide.