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Biochemtex receives $90 million loan for R&D on second-generation bioethanol

December 13, 2013 | Michael Ravenscroft

The European Investment Bank (EIB; Luxembourg) is to lend €65 million ($89.5 million) to support R&D projects in production technology for second-generation biofuel at Biochemtex (Tortona, Italy), a company of the Mossi Ghisolfi Group (Tortona), EIB says. Biochemtex is conducting research to improve the conversion of non-food biomass into biofuel and also other chemicals, including ethylene glycol. The company has developed technology for extracting low-cost sugars from biomass—reeds and agricultural waste, such as rice- or wheat straw. The...

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