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TPG and Chemtex to Form Second-Generation Bioethanol JV in Italy

2:40 PM MDT | October 13, 2011 | Lindsey Bewley

Chemtex, a subsidiary of Gruppo Mossi and Ghisolfi (M&G Group; Tortona, Italy), says it has formed a joint venture with TPG Capital (Fort Worth, TX) and TPG Biotech (San Francisco) to produce second-generation bioethanol. The jv will exclusively license Chemtex’s Protesa technology to produuce fermentable sugars from cellulosic biomass, which can then be converted into bioethanol and other chemical products and intermediates. The jv will be called Beta Renewables. Total capital will be about €250 million ($285 million), TPG says.   Under the...

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