Agreement strengthens the project’s commercial structure, enhances supply security, and reinforces the integration of the Brazilian operation into global biofuels markets

São Paulo, June xx, 2026 – Acelen Renewables, an energy company of Mubadala Capital, and Trafigura, one of the world’s largest independent commodity trading companies, signed a strategic agreement to supply feedstocks and market renewable fuels to be produced by the biorefinery currently under development in the state of Bahia, Brazil.

This  agreement is a  significant milestone in the project schedule and reinforces Acelen Renewables’s readiness to begin constructing the facility, following the recent announcement of a US$1.5 billion financing package.  Using HEFA (Hydroprocessed Esters and Fatty Acids) technology, the plant will have the capacity to produce up to 1 billion liters per year of SAF (Sustainable Aviation Fuel) and HVO (Renewable Diesel).

Under the terms of the agreement, Trafigura will participate in two strategic stages of the value chain: feedstock supply and marketing of the plant’s future production. This integrated model enhances operational predictability, strengthens feedstock supply security for the project, and reduces risks associated with its implementation and operation.

The contracts provide for the supply by Trafigura of approximately 470,000 metric tons per year of used cooking oil (UCO), a volume sufficient to produce approximately 459 million liters of SAF. In return, Trafigura will purchase part of the future production of SAF, HVO, and Green Naphtha (renewable naphtha used in the production of gasoline and renewable plastics), primarily destined for North American and European markets.

The approximately 5,500 barrels per day of SAF and HVO to be acquired by Trafigura would be sufficient to fuel up to six daily flights on the São Paulo–Paris route*. All products marketed under the agreement will meet the international sustainability and traceability standards required by leading global markets, including certifications such as ISCC EU and the requirements established by the U.S. Environmental Protection Agency (EPA).

“Trafigura’s participation validates a model that we consider essential to the success of the biorefinery: the integration of certified feedstock supply with access to end markets. Having a global counterpartr operating at both ends of the value chain brings greater predictability to the operation, reduces execution risks, and contributes to building a robust, long-term commercial platform,” said Cristiano da Costa, Commercial and Trading Vice President at Acelen Renewables.

Sebastian Jaworski, Head of Oil Trading for Latin America at Trafigura, said: “The growth of the market for sustainable fuels represents a significant opportunity for Brazil. By combining the large-scale production capacity of the Bahia biorefinery with Trafigura’s expertise, we will expand the reach of these products, helping more companies advance their decarbonization goals.” 

Acelen Renewables has already secured approximately 90 percent of the contracts required for the operation of the biorefinery, including feedstock supply agreements and long-term offtake contracts primarily targeting the United States and European markets. 

The agreement with Trafigura further underscores the relevance  of one of the world’s largest renewable fuels projects currently under development. It also reinforces Acelen Renewables’ strategy of building an integrated commercial platform supported by leading global counterparties across different stages of the supply and distribution chain.

*Based on an Airbus A380 with a capacity of 470 passengers, according to Flight Consultoria.

About Acelen Renewables – Acelen Renewables is a renewable energy company of Mubadala Capital, a global alternative asset management firm headquartered in Abu Dhabi, United Arab Emirates, created to play an active role in the global energy transition. The company is independent from Acelen’s Mataripe Refinery and is developing an integrated ecosystem for renewable fuel production in Brazil, combining agricultural innovation, industrial technology, and the decarbonization of mobility and aviation. Learn more at acelenrenewables.com. 

About Trafigura: 

Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through MorGen Energy and joint venture Nala Renewables.

The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, the Impala Terminals joint venture and Greenergy, supplier and distributor of transportation fuels and biofuels. The Group employs approximately 14,500 people, of which over 1,400 are shareholders, and operates in over 150 countries.