13 October 2011 14:20 [Source: ICIS news]
London (ICIS)--Italy-based chemical manufacturer Mossi and Ghisolfi (M&G) has formed a joint venture (JV) with ?xml:namespace>
The two companies will invest €250m ($343m) in the JV, Beta Renewables, to license the new technology produced by M&G subsidiary Chemtex, the company said.
As part of the agreement, M&G will transfer to a pilot plant in
“Beta Renewables is in [a] position to broadly deploy this advanced technology into the global marketplace, and we expect that it will quickly establish a leadership position in this regard,” said Patrick McCroskey, TPG Biotech principal.
The new plant is scheduled for production by mid-2012, and will be the first industrial facility in the world producing second-generation bioethanol, the company stated.
($1 = €0.72)
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