THOUSANDS OF SUSTAINABLE JOBS FLOW INTO BRAZIL
Brazil-based energy company Acelen Renewables has announced a $1.5 billion investment to begin building a new renewable fuel biorefinery in the country’s northeastern state of Bahia. Owned by Abu Dhabi-based asset management firm Mubadala Capital, the company expects to begin producing 1 billion liters of sustainable aviation fuel (SAF) and renewable diesel per year in Bahia by 2029. The new biorefinery will be constructed at an industrial site located in São Francisco do Conde over the next three years, featuring Hydroprocessed Esters and Fatty Acids technology. Acelen plans to utilize traditional raw materials including soybean oil, used cooking oil and native Brazilian crop macauba during SAF production. In total, Acelen plans to invest up to $3 billion at the new facility which is backed by ten national and international financial institutions such as First Abu Dhabi Bank and the Bank of China. Once operational this site will help position Brazil as a leading hub for SAF aviation and heavy transport fuels.
Photo courtesy of Samsung
GLOBAL CHIP GIANTS DOUBLE DOWN IN SOUTH KOREA
Last week, officials from Samsung Electronics and SK Hynix joined South Korean President Lee Jae Myung to share news of a planned $517 billion investment into two new chip fabrication facilities. The new plants are set to launch in South Korea’s southwest region, supported by up to $22 billion investment funding from the southwestern city of Gwangju and the South Jeolla Province. The new facilities will benefit from the region’s underused power supply and aim to expand industrial investment beyond the Seoul metro area in the Gyeonggi Province, according to President Lee. “To meet the rapidly increasing demand for semiconductors, we need to quickly complete the production hubs that are currently under construction,” he said. “At the same time, we must secure overwhelming production capacity in advance through large-scale new investments, including in the southwestern region. Existing sites centered around Yongin and Pyeongtaek have already reached their limits.” As of now there is no official timeline confirmed for the completion of the new facilities.
Photo: Getty Images
NEW MEXICO BACKS SPACE TECH EXPANSION
As defense and space technology company BlackVe looks to expand its New Mexico headquarters and grow its regional workforce, the state and the city of Albuquerque will invest over $1.5 million to see the initiative through. Expansion activity will include a new 50,000 sq. ft. satellite manufacturing facility, an expanded HQ and the creation of 152 direct jobs over the next decade. BlackVe will receive $1 million from the state’s New Mexico Local Economic Development Act (LEDA) fund, a 20-year Industrial Revenue Bond, $295,000 from the state’s Job Training Incentive Program and $250,000 in local LEDA funds from the city. “This partnership is not just about building advanced spacecraft,” said BlackVe CEO Dr. Peter Wegner. “It is about investing in the local workforce, creating high-quality STEM careers for New Mexicans and inspiring the next generation of home-grown innovators to reach for the stars.”
Reports compiled and written by Alexis Elmore
