Brazilian biofuels company GraalBio Investimentos, Italy-based Mossi & Ghisolfi's subsidiary Chemtex partner to develop, build cellulosic ethanol plant in Brazil, expected to begin operations by 2013

SAO PAULO and TORTONA, Italy , October 17, 2011 (press release) – GraalBio Investimentos S.A., an integrated second generation biofuels and biochemicals company wholly-owned by the Brazilian entrepreneurial group Graal Investimentos S.A., and Chemtex Italia S.r.l. (“Chemtex”), a global technology and engineering company and a subsidiary of Italy’s Gruppo Mossi & Ghisolfi (M&G), today announced their collaboration for the development and construction of the first industrial scale cellulosic ethanol plant in Brazil, which is expected to begin operations by 2013. Chemtex and GraalBio are also in discussions regarding a broader cooperation to develop and produce biofuels and biochemicals in Brazil.

“We are pleased to collaborate with Chemtex on plans to build a world-class and unprecedented project in Brazil,” said Bernardo Gradin, Chairman of GraalBio.

“We look at our deal with Graal as great way to start our technology in Brazil and develop it’s potential” said Guido Ghisolfi, President and CEO of Chemtex.

The project will use Chemtex’s breakthrough PROESA® technology.

About GraalBio

GraalBio (www.graalbio.com.br) has developed an ambitious strategy to become a significant global player in biotechnology. Brazil has one of the best climate conditions in the world to launch the new generation biofuels and biochemicals technologies in commercial scale. GraalBio plans to become the preferred partner to implement promising technologies with Brazilian biomass by investing in the development of industrial plants, new crops, research and development, patents, licenses and know how as well as promoting strategic alliances with companies that have been developing biomass conversion technology worldwide.

About Chemtex and M&G Group:

Chemtex is a global engineering and technology company, wholly owned by Italy’s Gruppo Mossi & Ghisolfi (“M&G”). The M&G Group is a multinational, family-run business established in 1953 by Vittorio Ghisolfi. It is one of the world’s leading producers of PET resin and is Italy’s second largest chemical company. The Group has operations in Brazil, Mexico, China, India, the USA and Italy and its annual turnover is approximately USD 3 billion. M&G is a forward-looking company that is continuing to invest significant funds into bio-fuels and green chemistry research and development as part of its commitment to sustainability.

Chemtex specializes in delivering value-added project solutions for its clients in the bio-fuels, renewable chemicals, energy, environmental, petrochemical, polymers, and fiber industries through its operations in Italy, the United States, India and China.

Chemtex is a leader in chemical engineering and renewable processes. It is currently building a 40,000 metric ton per year bio-refinery in Crescentino, Italy that will produce cellulosic ethanol using its PROESA® Process as well as “green”electricity. Construction has begun and plan start-up is targeted for the end of H1, 2012.

For more information, please visit: www.chemtex.com

For more information contact:

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.