Versalis buys Biochemtex, Beta Renewables

By Erin Voegele | September 27, 2018

Italian oil and gas company Eni has announced Versalis, its chemical subsidiary, has purchased a group of green businesses owned by the Mossi & Ghisolfi Group, including Biochemtex and Beta Renewables. The acquisition was completed via a bidding process ordered by the Court of Alessandria in Italy. The Mossi & Ghisolfi Group filed for bankruptcy in 2017.

Information released by Eni indicates the transaction includes assets and resources related to development activities, industrialization, licensing of technologies and bio-chemical processes based on the use of renewable resources, especially biomass, for the four companies of Biochemtex, Beta Renewables, Ipb (Italian Bio Products), and Ipb energia.

Beta Renewables’ Proesa technology converts biomass into second-generation sugars, which can be further processed into biofuels or biobased chemicals. The technology is currently is currently employed at a biorefinery in Crescentino, Italy, which produces cellulosic ethanol and renewable electricity.

Eni said the acquisition “reinforces Versalis’ competitive position in the biobased chemical industry, creating synergies with ongoing research projects, and will allow the development of an integrated technological platform of chemicals from biomass, in line with the strategy undertaken in recent years.”