Machado Meyer advises Repsol Sinopec on DAC project
Machado Meyer has supported Repsol Sinopec in the implementation of a research, development and innovation project involving a Direct Air Capture (DAC) pilot plant in Brazil, financed by revenues from the company’s Brazilian gas production and boiling.
The DAC project will be unprecedented in Brazil. The pilot plant will be the first of its kind to be installed in South America. The project aims, through the capture and atmospheric storage of CO2 in basalt rocks, to achieve the RSB’s carbon reduction targets and to contribute to the science and creation of an industry of new technologies for the energy transition. This project is in line with RSB’s commitment to become a net zero emissions company by 2050, in line with the targets set out in the Paris Agreement.
The transaction value was BRL 60 million.
Machado Meyer advised Repsol Sinopec Brasil and had the partners (pictured from left to right) Fernando Xavier, Eduardo Ferreira, Liliam Yoshikawa, and lawyers Anna Carolina Ramos Coelho Joppert, Claudia Hori and Thais Ferreira Moreno.
