Valuation • Raízen

RAIZ3

Raízen is an integrated energy company operating as a joint venture between Cosan and Shell. The company's business model is divided into two main segments: Ethanol, Sugar and Bioenergy (EAB) and Fuel Distribution. In the EAB segment, the company produces, originates and sells sugar and ethanol, including second-generation (E2G), and generates and sells bioenergy. In Fuel Distribution, it operates under the Shell brand in Brazil and Argentina, selling fuels and lubricants and working with Shell Select convenience stores. The operation in Argentina also includes refining and oil products production. Thus, Raízen operates vertically in the bioenergy and fuel chain, with a strong presence in the markets of Brazil and Argentina.