October 29, 2012

Novozymes buys 10% stake in Beta Renewables

Novozymes today announced its 10% acquisition stake worth $115m in Beta Renewables -- a cellulosic biofuel joint venture between Chemtex (a division of Italian plastic producer Gruppo Mossi & Ghisolfi) and investment firm TPG.

Danish enzymes producer Novozymes and Beta Renewables have agreed to jointly market cellulosic ethanol using Novozymes' Cellic enzymes and Beta Renewables' PROESA engineering and production technology.

Novozymes said it will gain access to significant new business opportunities with the deal. Beta Renewables' 20m gal/year Crescentino, Italy, cellulosic ethanol plant is expected to start by year-end 2012 with initial production of 13m gal/year using wheat straw, energy crops and other locally-available biomass.

Here's an interesting advertorial video from Beta Renewables about their PROESA process...

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