Brazil is the second largest ethanol producing country in the world and the largest sugar producing nation in the world, generating around 20% of the world's supply of sugar. Brazil will be a major source of renewable chemicals and biofuels for export in the future.
In 2010, we opened a satellite office in Sao Paulo, Brazil where our business development manager is based. We have excellent strategic relationships with leading academic institutions, engineering partners, trade groups and investors in Brazil. We have identified the major sugar/ethanol producers in Brazil that are potential partners with GBL as well as a solid understanding of the butanol industry in Brazil. We continue to look at project opportunities for retrofitting ethanol facilities in Brazil, and for building new biobutanol facilities adjacent to sustainable sources of feedstock.