ComBio is a private company domiciled in Brazil. Approximately 67% of the shares of the Company are held by the five founding shareholders. The remaining is held by two private equity funds (Lightrock and SPX Capital), with a combined approximately 31% stake in the Company, and five executives who joined as shareholders through the Company’s Long-Term Incentive Program.

The Project has a total cost of approximately US$81 million equivalent and IFC is proposing an up to US$72 million financing package (IFC Own Account A Loan and Mobilization).                                                    

The Project facilities are located in the municipalities of Mogi Guacu and Campinas (state of Sao Paulo) and in the municipality of Balsa Nova (state of Parana).

This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012). The Project is expected to have limited adverse E&S risks and impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP). Sourcing of biomass for the boilers is considered low risk, as 30% is sourced from existing eucalyptus plantations in regions of low risk for habitat conversion. Some of these plantations overlap with Legally Protected Areas (LPAs) for which specific mitigation measure are required.  Key E&S risks and issues for this investment include: 1) occupational health and safety (OHS) during boiler installation and maintenance activities; 2) labor/OHS management of contractors and subcontractors during boiler installation, including risks of GBVH; 3) control and monitoring of air emissions in compliance with WBG EHS Guidelines; 4) management of waste, including biomass ash; 5) risk of fire and explosions in biomass storage area and at boiler operation; 6) vehicular accidents and potential risk of GBVH during transportation of biomass; 7) potential risk of harmful child and forced labor, OHS, and natural habitat conversion, in the biomass’ supply chain.