Is Brazil at the Dawn of a New Industrial Era?

Yeah, the whole thing originated in Orlando, where we had a discussion below palm trees.

And palm trees solve a lot of problems, so you are excited.

And the discussion continued from there with various users and technology vendors.

And, well, then... we decided to do the forum in Brazil and with the geopolitical development since then, especially the free trade agreement between Mercosur and EU, this is now making a lot of sense.

So Europe, Latin America moving really closer together in economic terms and I think what was really interesting is I had a discussion with a technology vendor.

It was BC before COVID at SPS in Nuremberg.

And he mentioned he sees himself two, five years behind Western companies.

So sobering statement to describe your own company as being five years behind.

But then last year at our forum in Sitges, near Barcelona, we had a presentation by Libanio.

Libanio de Sousa, he is the head of SEISE, which is the biofuel end-user organization in Brazil.

He's also with SMAR.

and when you hear him talk about the technology the collaboration between the vendors the users and universities there is nothing absolutely nothing that is backwards or behind european standards so a lot of change in brazil already and The other reason why we're doing that is just the sheer size of the Brazilian market.

It's huge, it's huge demand.

It's not a niche market and it's a comparably broad diversified economy.

Makes absolute sense to go to Brazil in this time.

So I think it's a good idea.

And I think a lot of our clients and the attendees are really looking forward to that, to learn what's going on in Brazil on the industry side.

When you look at Brazil, it often is referred to one of the BRICS countries, of course.

A long time ago, yeah.

A long time ago, yeah.

So always the comparison to China.

But obviously, it's not as simple and not the same as China.

So in your opinion, what's the difference?