Key facts
- Bunge will supply 300,000 metric tons of certified soybean oil annually to Acelen Renováveis.
- The five-year contract begins in 2029 and totals over 1 million metric tons.
- The soybean oil will be used for sustainable aviation fuel (SAF) and renewable diesel (HVO) production.
- Acelen Renováveis's biorefinery is located in Bahia, Brazil.
- This is Bunge's largest commodity supply agreement in Brazil.
- The oil will be certified by the U.S. EPA and California Air Resources Board (CARB).
Bunge, a global leader in agribusiness, has entered into a significant five-year agreement with Acelen Renováveis to supply certified soybean oil for renewable fuel production. The deal, commencing in 2029, will see Bunge deliver 300,000 metric tons of soybean oil annually, totaling over 1 million metric tons, to Acelen's new biorefinery in Bahia, Brazil. This facility is designed to produce sustainable aviation fuel (SAF) and renewable diesel (HVO).
The agreement marks Bunge's largest commodity supply contract ever signed in Brazil. The soybean oil supplied will be sourced from either Brazil or Argentina and is expected to meet stringent sustainability certifications from the U.S. Environmental Protection Agency (EPA) and the California Air Resources Board (CARB), ensuring traceability and compliance with international standards.
Acelen Renováveis, controlled by Abu Dhabi's sovereign wealth fund Mubadala Capital, is investing more than $3 billion in the biorefinery, which will have a capacity to produce 1 billion liters of SAF and HVO per year. This project is positioned as the first large-scale SAF and HVO production facility in South America.
Company officials highlighted the strategic importance of the partnership in developing a robust supply chain for low-carbon fuels. Bunge's commercial director, Tito Martinho, stated that the agreement connects the value chain to invest in regenerative agriculture, potentially positioning Brazil as a key player in global renewable fuels markets. Cristiano da Costa, Acelen's VP of Commercial and Trading, emphasized that securing certified feedstock is crucial for the biorefinery's competitiveness and operational reliability.
Acelen Renováveis aims for a diversified feedstock portfolio, including used cooking oil (UCO) and macaúba, to enhance operational flexibility and supply security. The International Air Transport Association (IATA) notes that SAF is expected to contribute significantly to the aviation industry's net-zero goals by 2050.