Italian oil and gas major Eni SpA (BIT:ENI) said this week its chemical subsidiary Versalis has won the court-ordered bidding process for the "green" operations of Mossi Ghisolfi Group.
The deal, which will be formally agreed in the coming weeks, includes assets and resources related to the development, commercialisation and licensing of biochemical technologies and processes of four companies -- Biochemtex, Beta Renewables, Ipb (Italian Bio Products) and Ipb energia. In particular, it involves the Proesa technology, which converts biomass into second-generation sugars and then biofuels or other biochemical intermediates.
Beta Renewables runs a facility in Crescentino that is the world's first to produce second-generation ethanol, according to information on the company's website.
Eni said the know-how Versalis is getting will strengthen its position in the renewable chemicals sector.
Article by Renewables Now: Eni subsidiary wins auction for Mossi Ghisolfi's green activities
Eni subsidiary wins auction for Mossi Ghisolfi's green activities