Versalis acquires Mossi Ghisolfi Group's bio companies

Milan, Italy – Versalis SpA, the chemicals arm of Eni, is acquiring Mossi Ghisolfi Group’s "green” businesses, the company announced 26 Sept.

Financial details of the deal have not been disclosed, but Versalis expects to complete the deal “in coming weeks”.

The acquired operation includes the four companies of Biochemtex, Beta Renewables, Ipb (Italian Bio Products) and Ipb energia.

The deal covers assets and resources related to the development, industrialisation and licensing of technologies and bio-chemical processes based on the use of renewable resources, especially biomass.

The Proesa technology, which is used to convert biomass into second generation sugars, is also included in the deal.

The technology was developed by Biochemtex and is designed to use non-food biomass such as rice straw and sugarcane bagasse, to produce fuel and chemicals.

An industrial plant at Crescentino, northern Italy currently produces bio-ethanol using the technology.

Versalis expects the know-how to reinforce its competitive position in the bio-based chemical industry and allow the development of an integrated technological platform of chemicals from biomass.

The Italian-based Mossi Ghisolfi plastics group filed for an in-court settlement with its creditors last October.

The company owns a series of licensing technologies and biochemical processes based on renewable resources, particularly biomass.