In Denmark and Italy, Novozymes, the world’s largest producer of industrial enzymes, and Beta Renewables, a global leader in cellulosic biofuels and part of Gruppo Mossi & Ghisolfi, announced an agreement to jointly market, demonstrate and guarantee cellulosic biofuel solutions. As part of the agreement, Novozymes will acquire a 10% share in Beta Renewables, paying approximately $115 million cash for the equity, marketing fees, other intellectual property rights and milestone payments.
The announcement came as the global biofuels industry began its annual three-day Advanced Biofuels Markets meeting in San Francisco, which focuses on high-level, strategic partnerships and deal-making. Beta Renewables chairman and CEO, Guido Ghisolfi, addressed ABM with a keynote, and the new partners held a joint briefing for industry and media.
Beta Renewables will embed Novozymes’ enzymes in its PROESA technology and guarantee biofuel production costs upon start-up of customers’ cellulosic facilities. The deal is unique in offering a combined solution that reduces the risk in customers’ projects while providing competitive commercial terms.
From: Biofuels Digest, http://www.biofuelsdigest.com/bdigest/2012/10/29/novozymes-acquires-10-of-beta-renewables-for-115m-companies-to-jointly-market-demonstrate-and-guarantee-cellulosic-biofuel-solutions/?utm_source=twitterfeed&utm_medium=linkedin