10/17/2011

Gruppo Mossi and Ghisolfi (M&G), which is developing the world's first commercial-scale cellulosic ethanol plant in Crescentino, Italy, has formed a joint venture with TPG Capital and TPG Biotech to license technology that would be used at the facility. The newly created Beta Renewables will market M&G's Proesa technology, which converts celulosic biomass into ethanol and renewable chemicals. Proesa is feedstock-flexible and doesn't require additional chemicals, said Dennis Leong, M&G's executive vice president of marketing and business development.

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