Investment soared in the 2000s, as funding for new biofuel projects more than quadrupled from $1.7 billion in 2006 to the peak in 2008, Bloomberg New Energy Finance data showed. The flex-fuel car, which can run on pure ethanol or a mixture of the biofuel and gasoline, was introduced in 2003. As of September, 61 percent of Brazil’s light-vehicle fleet was flex-fuel, Unica estimates.