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M&G Chemicals Launches Green Revolution in the Polyester Chain
Date:11/18/2013

SHANGHAI, Nov. 18, 2013 /PRNewswire/ -- M&G Chemicals announces today its decision to construct a second-generation bio-refinery in the region of Fuyang, Anhui Province of China for the conversion of one million metric tons of biomass into bio-ethanol and bio-glycols.

The project is expected to be realized through a joint-venture with Chinese company Guozhen which will make available one million metric tons of straw biomass and use the lignin resulting as a by-product from the bio-refinery to feed a 45 MW cogeneration plant which will be constructed at the same time as the bio-refinery in the same site. M&G Chemicals will be majority partner of the bio-refinery and minority partner of the power plant.

The bio-refinery will employ PROESATM  technology licensed from Beta Renewables, a joint venture between Biochemtex (a company belonging to the Mossi Ghisolfi Group), US private equity fund TPG and Danish enzyme producer Novozymes.

The second-generation bio-refinery will be approximately four times the size (measured by volume of biomass processed) of that built by Beta Renewables in Crescentino, Italy, which was recently inaugurated.

The plant, which is expected to require capital expenditures of approximately half a billion US dollars, is expected to be brought on stream in mid 2015.

Necessary enzymes will be supplied by Novozymes, one of the world's largest enzymes producers and one of the partners in the Beta Renewables joint venture, which owns the rights of the PROESATM technology.

"This is the first act of a green revolution that M&G Chemicals is bringing to the polyester chain to provide environmental sustainability to both PET beverage packaging and polyester textile," said Mr. Marco Ghisolfi, CEO of M&G Chemicals. "The timing and scope of ou
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SOURCE M&G Chemicals
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