Petrobras’ Board of Directors has approved the creation of a company, a wholly-owned subsidiary, to undertake all its biofuel activities. Acccording to Petrobras, the group's current biofuel interests are spread throughout the group making overall management and control difficult. Petrobras has forecast an investment in the biofuels sector of $1.5bn through to the end of 2012.

Latin American nations could become important suppliers of ethanol for world markets in coming decades, according to an Oak Ridge National Laboratory study released recently. The report, 'Biofuel Feedstock Assessment for Selected Countries,' presents findings from research conducted in support of a larger study of 'Worldwide Potential to Produce Biofuels with a focus on U.S. Imports' by the Department of Energy. The ORNL study highlights the importance of Brazil's dynamic sugarcane industry in future world trade in fuel ethanol.

The policy chief of Europe’s most influential renewable energy body has rubbished comments on biofuels made by the European Parliament’s rapporteur on the Fuel Quality Directive. Oliver Schaefer, of the European Renewable Energy Council (EREC), this week poured scorn on suggestions made by MEP Dorette Corbey, that the EU’s target of using 10% biofuels in Europe’s transport fuels by 2020 is ‘too high’.

U.S. Department of Agriculture (USDA) Secretary Ed Schafer and U.S. Department of Energy (DOE) Secretary Samuel Bodman today announced (4th March) that combined, USDA and DOE will invest up to $18.4 million, over three years, for 21 biomass research and development (R&D), and demonstration projects.  These projects specifically aim to address critical barriers to making production of biomass more efficient and cost-effective, in an effort to advance the Bush Administration’s strategy of bringing online more clean, bio-based products and biofuels to help reduce our dependence on oil from unstable parts of the world and mitigate climate change.  Secretaries Schafer and Bodman made today’s announcement while delivering remarks at the Washington International Renewable Energy Conference 2008 (WIREC).

Nova Biosource Fuels, Inc. (AMEX:NBF) announced today that it has completed its first funding of $10.6 million under its $41 million senior secured credit facility with WestLB AG. The proceeds of the loan were used to pay project costs and related fees and expenses in connection with the on-going construction of its 60 million gallon per year biodiesel refinery in Seneca, Illinois. The refinery is mechanically complete and Nova is in the process of making additional funding requests under the credit facility in order to procure feedstock and commence commissioning and start-up of the refinery.

Pursuit Dynamics (AIM:PDX) has signed an agreement with Pacific Ethanol, Inc. (NASDAQ:PEIX) to install a full scale production version of its PDX Ethanol Reactor Tower (‘ERT’) at Pacific Ethanol’s facility in North East Oregon, USA. According to Pursuit Dynamics the PDX bioethanol system achieved a 14% increase in bioethanol yield when compared to existing methods of production at a US-based pilot plant in December 2007, whilst reducing overall fermentation time by over 20%. The system has also been specifically developed to be retrofittable to existing bioethanol production facilities.

A team of Biotechnology and Biological Sciences Research Council (BBSRC) funded scientists at the University of Essex, UK, has discovered a new mechanism that slows the process of carbon dioxide fixation in plants. The research, published today (4th March) in the Proceedings of the National Academy of Sciences, increases our understanding of this process, which may ultimately lead to crop improvement and ‘fourth generation’ biofuels.

AEA Technology has won a contract to carry out an assessment of the potential for bioenergy development in Northern Ireland. The work, commissioned by Northern Ireland's Department of Enterprise, Trade and Investment on behalf of the Bioenergy Inter-Departmental group, is scheduled to be completed by mid-March. It will inform the development of a cross departmental bioenergy strategy later in 2008 on how the region can sustainably increase the production and use of bioenergy.