pure ethanol is ~115 octane.
I don't know what mixture they are planning to use here, but in Brazil, who believe it or not, is the world leader in ethanol use as motor fuel, the standard is 85% ethanol.
It will burn fine in place of premium.
On a side note, Brazil, thanks largely to their ethanol use, is a net exporter of energy, as opposed to the US, who is obiviously a huge importer of energy, which determines our foreign policy more then any other factor.
Brazil's ethanol program was started in the 1970's as a result of the energy crisis. We are 30 years late on this