• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 1 hour TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 5 hours Washington doctor removed from his post, over covid
  • 6 hours Which producers will shut in first?
  • 10 mins WE have a suicidal player in the energy industry
  • 46 mins Real Death Toll In CCP Virus May Be 12X Official Toll
  • 4 hours Shale Legs
  • 24 mins How to Create a Pandemic
  • 33 mins The Most Annoying Person You Have Encountered During Lockdown
  • 4 hours KSA taking Missiles from ?
  • 10 hours Trump eyes massive expulsion of suspected Chinese spies
  • 12 hours Did Trump start the oil price war?
  • 18 hours Eight Billion Dollars Wasted on Nuclear Storage Plant
Environmental Finance

Environmental Finance

Environmental Finance is still the only independent global magazine offering comprehensive coverage of the financial impact of environmental issues on the business community.  Leading industry…

More Info

Premium Content

Biofuels Company Teams Up with Enzyme Producer to Try and Kickstart Industry

A next-generation biofuels producer has formed a strategic partnership with the world’s largest supplier of industrial enzymes in a move they hope will kickstart the sector’s growth.

Novozymes has paid $115 million for a 10% stake in Beta Renewables – part of Italian company Gruppo Mossi & Ghisolfi and the operator of what it claims is the world’s largest cellulosic ethanol plant in Crescentino, Italy.

Beta Renewables will sell its own ‘Proesa’ technology for turning waste and non-food crops into biofuels alongside Novozymes’ enzymes, and the two companies will jointly market, demonstrate and guarantee the performance of their products, making it easier for projects to access funding.

Beta aims to help build 15 to 25 new plants in the next three to five years, which Denmark-based Novozymes estimates could add up to $175 million to its sales as a result of being the preferred supplier.

The tie-up comes days after the European Commission unveiled plans to cap the use of biofuels made from food crops in a move it hopes will encourage a boom in advanced biofuels, made from products such as waste, straw, or algae.

Although the European market for cellulosic biofuels has potential for expansion, the bulk of the opportunities are expected to be in the US and emerging markets in Latin America and Asia, Peder Holk Nielsen, executive vice-president at Novozymes, told Environmental Finance.

“This is about providing better guarantees to companies and about de-risking – we hope to see the market move faster than it otherwise would have done. Large-scale commercialisation of cellulosic biofuels is taking off, and this is a fantastic opportunity for Novozymes,” he added.

“This type of complete offering will significantly de-risk cellulosic biofuel projects financially as well as technologically for our customers,” said Beta Renewables’ chairman and CEO, Guido Ghisolfi. “It will make cellulosic biofuel projects bankable and accelerate large-scale commercialisation of the industry.”

In the past five years, Beta has invested more than $200 million in its Proesa technology. It is used in Crescentino, which is due to be fully up and running by the end of the year.

Beta recently secured a deal to build at least one plant in Brazil with GraalBio.

By. Peter Cripps


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News