SAO PAULO, March 8 (Reuters) - Brazilian family-owned
energy firm Potencial is poised to boost sales on growing demand
for cleaner energy sources such as biodiesel, Vice-President
Carlos Hammerschmidt said in an interview.
The company operates Brazil's biggest biodiesel plant with a
capacity of 900 million liters annually.
"We know there will be a peak of petroleum consumption in
2030," said Hammerschmidt, whose grandfather founded the firm as
a small gas station network in southern Brazil in the 1950s.
Last December, the Brazilian government rose a mandatory
biofuel mix into diesel to 14% and set March 2025 as the
deadline to raise it to 15%.
Potencial, which also keeps interests in fuel distribution
and logistics, is gradually modernizing its own truck fleet to
run on biodiesel.
As demand for cleaner fuels grows, Hammerschmidt predicts
overall group sales reaching 12 billion reais ($2.41 billion) in
2024, up from an estimated 10 billion reais for 2023.
Currently, biodiesel accounts for about 35% of Potencial's
revenues, he said.
The firm began producing biodiesel 12 years ago and is
currently investing 2 billion reais ($403.14 million) to build a
new soybean crusher to make soymeal and also soyoil, which will
used as a raw material to produce more biodiesel.
The new facility is being funded with Potencial's own cash,
the executive said.
Brazil's climate and abundant crops to make biofuels,
including soybeans for biodiesel and sugarcane and corn for
ethanol, are a magnet to deep-pocketed investors.
Foreigners including Cargill and China's Cofco
compete with Potencial in the biodiesel sector. To get a piece
of the action, multinationals have bought existing plants or
built them from the ground, like ADM did in Mato Grosso
state years ago.
Potencial's strong and debt-light balance sheet, which is
audited, makes it a prime candidate for a takeover.
"Every day someone knocks on the door saying: your company
is an acquisition target," Hammerschmidt said. But the company
is not for sale. "It's not only money that moves us. My dad
built this from scratch."
(Reporting by Ana Mano
Editing by Ros Russell)