As CEO of Raízen since 2020, Ricardo Mussa was at the helm of the company during its IPO in 2021. The company raised R$6.9 billion (US$1,393) in the largest IPO of the year at the time. Created in 2011 as a joint venture between Shell and Rubens Ometto’s Cosan Group, Raízen is one of the largest fuel distribution companies in the country. One of its fronts is the production of so-called second-generation ethanol, made from sugarcane cellulose and residues from regular ethanol production, which allows a more complete use of the biofuel feedstock. In 2023, the company announced that it will invest 6 billion reais (US$1.211 billion) in the construction of five second-generation ethanol plants, scheduled to open between 2025 and 2027. In the fiscal year ended March 2023, the company had net revenues of R$245.8 billion and net income of R$2.5 billion (US$505 million).
