Versalis, Novamont strengthen biochemicals partnership

Milan, Italy – Italian chemicals companies Versalis and Novamont have renewed their commitment to sustainability targets with an agreement to extend their partnership in biotechnology.

The two companies announced on 29 March that they planned to enhance the technology and product assets of Matrica – a bioproducts joint venture created in 2011 in Porto Torres, Sardinia.

As part of the agreement, the partners will aim to “fully develop” Matrica’s products within their integrated supply chains.

According to its website, Matrica manufactures chemical products from renewable sources such as vegetable oil.

The product portfolio includes intermediates as well as the PF801 bioextensor oil, which has been specifically designed for the rubber industry and in particular for tires.

The oil, according to Matrica, can be used as a total or partial replacement for extender oils of fossil origin.

In addition to the agreement on Matrica, Versalis announced that it was increasing its stake in the Italian biochemicals company from 25% to 35%.

At the end of the reorganisation, the timeline for which was not provided, Novamont will be 65% owned by Mater-Bi and 35% by Versalis.

“The development of chemistry from renewables, of which the Matrica JV represents an important example, is one of the pillars of Versalis’ strategy,” said CEO Adriano Alfani.

“This agreement with Novamont is founded in the belief that Italy can play a key role at an international level in the field of chemistry from renewables and the circular bioeconomy,” he added.