Through a change in its structure, the Shell and Cosan have reached an agreement to strengthen the Raízen in Brazil for the same pass to be permanent.
"The low-carbon, sustainable biofuels have an important role at the present time, and will be needed in the long term for the heavy transport and long-distance," said John Abbott, Director of Shell's Downstream. "We are pleased with the strong performance of Raízen. This commitment confirms the stability of the partnership between Shell and Cosan, as well as our shared vision about the long-term goals and the value of our business ".
Marcos Lutz, CEO of Cosan, adds: "transforming the Raízen in a permanent joint venture strengthens partnership we build with Shell in the last five years, while our way to continue our successful journey in Brazil. Our partnership with the Shell is crucial to be recognized for excellence in the development, production and marketing of sustainable energy ".
Raízen is the largest producer of sugar cane in the world, producing more than 4 million tons of sugar, more than 2 billion liters of ethanol and 2.2 gigawatt-hour of cogerada energy in 2015. It also operates a network of over 5,800 gas stations with the Shell brand in the country. The combination of retail experience with Shell's technical expertise and contributed to the Cosan's strong financial and operational performance of Raízen since the creation of the joint venture.