FuturaGene bags Brazilian govt grant for bioenergy research

Nov 22, 2011 - Israeli biotechnology firm FuturaGene (PINK:FTGNF) yesterday said it had received a USD-1.2-million (EUR 886,000) grant from the Brazilian government for a bioenergy research programme seeking to bolster the yield of woody species.

FuturaGene, which is a unit of Brazil's paper major Suzano Papel E Cellulose (SAO:SUZB5), will aim to increase the yield in woody species, particularly eucalyptus, through genetic modification in its advanced plantation forestry.

Suzano will provide USD 2.4 million in counterpart funding for the project.

The Brazilian government has awarded the funding through its Science and Technology Ministry's FINEP agency that selects and supports strategic technology programmes.

(USD 1 = EUR 0.738)

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