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People & Business :: M&A
Novozymes Acquires Stake in Beta Renewables
3:44 PM MDT | October 29, 2012 | Rebecca Coons
Novozymes says it has acquired a 10% stake in Beta Renewables, a cellulosic ethanol joint venture owned by TPG Capital (Fort Worth, TX) and Gruppo Mossi & Ghisolfi subsidiary Chemtex, for $115 million. The deal is part of a strategic partnership to jointly market, demonstrate, and guarantee cellulosic biofuel. The partners will offer customers looking to produce biofuels from agricultural residues, energy crops and other cellulosic feedstocks a combination of Novozymes’ Cellic enzymes and Beta Renewables’ Proesa engineering and...
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