HOUSTON (ICIS)--Mossi and Ghisolfi (M&G) and Anhui Guozhen CO have created a joint venture to build what the companies called the world's largest cellulosic ethanol plant, M&G said on Monday.
The company did not reveal the capacity of the plant. However, M&G said it would process 970,000-1.3m tonnes/year of agricultural residues into ethanol, glycols and byproducts such as lignin.
Novozymes will provide the enzymes needed to convert the biomass.
The joint venture developing the project is called Anhui M&G Guozhen Green Refinery CO. M&G will own a 70% stake, and Guozhen will own the rest.
M&G said the total joint venture investment is about $325m
The two companies expect to announce a second joint venture that will convert the plant's lignin into steam and electricity.