Petrobras in 10-year, $820M contract to supply Toyota Tsusho with ethanol for Bio-PET project

FavStocks.com
By Green Car Congress on 11/13/2010 – 8:05 am PST

Petrobras recently signed a contract to supply Toyota Tsusho Corporation (TTC) with hydrated ethanol for ten years. The Brazilian sugarcane ethanol will be used as feedstock in a chemical ethanol project that TTC is deploying with a local partner in Taiwan to produce Bio-PET.

Bio-PET is polyethylene terephthalate; it consists of 70% terephthalic acid and 30% monoethylene glycol, by weight. Bio-PET is made by replacing monoethylene glycol with a biological raw material derived from sugar cane. Toyota Motor recently announced that it will expand its use of Bio-PET in vehicles.

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