By Brazil Stock Guide – Brazil’s development bank BNDES and the Brazilian Petroleum, Gas and Biofuels Institute, known as IBP, signed a technical cooperation agreement to connect startups with energy companies and accelerate the development of low-carbon technologies.
The partnership, reported by Brasil 247 based on information from the BNDES News Agency, will be carried out through BNDES Participações SA, or BNDESPAR, the bank’s investment arm. Neither BNDES nor IBP is publicly traded.
The agreement is part of an expansion of BNDES Garagem, the development bank’s startup acceleration program. It calls for knowledge sharing, joint innovation agendas and the identification of projects in areas including energy transition and decarbonization.
Startups backed by BNDES Garagem will gain access to industry specialists, potential customers and opportunities to test their products against operational demands from oil, natural gas and biofuel companies.
Energy producers and service providers, meanwhile, will be able to assess technologies and business models developed by startups in areas such as digital transformation, operational efficiency and emissions reduction.
“The agreement creates conditions for greater interaction between startups and energy-sector participants, contributing to the development of solutions aligned with the country’s technological and environmental challenges,” BNDES President Aloizio Mercadante said.
Agreement Has No Funding Transfers
The cooperation agreement will initially run for 24 months and may be extended for a total period of as long as 60 months. It doesn’t include transfers of financial resources between BNDES and IBP.
The institutions will instead collaborate through joint initiatives and institutional cooperation, bringing together startups, companies, researchers, specialists and investors involved in energy innovation.
IBP represents more than 200 companies and manages iUP, an innovation hub focused on the energy industry. Its areas of activity include low-carbon hydrogen, carbon capture and the broader transition toward cleaner energy sources.
“The partnership is aligned with the institute’s role of connecting companies, startups, research centers and investors to accelerate technological development, strengthen the sector’s competitiveness and support the energy transition,” IBP President Roberto Ardenghy said.
BNDES Garagem Targets Environmental Challenges
Established in 2018, BNDES Garagem provides mentoring, training and investor connections to impact-driven startups. Its current edition prioritizes businesses addressing social and environmental challenges.
The program covers areas including the green economy, decarbonization and the blue economy, while using participation mechanisms designed to increase regional and social diversity among entrepreneurs.
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