BG Brasil, Fapesp agree to invest USD 20m in clean energy research
Sep 27, 2013 - BG Brasil, the local arm of UK BG Group (LON:BG), and the research foundation of southeastern Sao Paulo state Fapesp agreed to jointly invest USD 20 million (EUR 14.8m) in research on the production and consumption of clean energy sources.
According to Fapesp, the purpose of the agreement is the creation of a centre for gas innovation research in Sao Paulo. It will select projects focused on clean energy to reduce greenhouse emissions; development of natural gas as a bunker fuel; improvement of engineering techniques for the production of natural gas; and the conversion of gas into raw materials for the chemical industry, including hydrogen.
Each of the partners will invest USD 10 million over a five year period.