The new Joint Italian Venture has as its mission the designing, building and managing of chemical plants using vegetable oil feedstock for the production of biochemicals (bio-plastics, bio-lubricants and bio-additives for elastomers).
Polimeri Europa the biggest Italian chemical company, a subsidiary of Eni and Novamont one of the global market leaders in biodegradable plastics announced 13 June plans to build an innovative bio-based chemical complex in Porto Torres (Sardinia, Italy). With a total investment of 500 million Euro ($700 million), the project consists of seven new plants an integrated production chain from vegetable oil to bio plastics to be completed within the next six years, and a research center devoted to bio-chemistry that will be operative in the next quarter.
Matrica, the fifty-fifty Joint Venture set up by Polimeri Europa and Novamont will execute the bio-based chemical complex, where the basic engineering of the first phase has already been completed. Eni also plans to invest an additional 250 million Euro in a biomass power station to provide the electric power.
JV's target market is the global bio-based chemical sector. According to recent analyst research this sector will grow at 17.7% per year reaching 8.1 million tons in 2015.
Novamont brings to the venture technologies and research and innovation skills in the sector of bioplastics and bio-based products, whilst Polimeri Europa boosts this highly innovative project with its engineering and commercial capabilities in carrying out and managing big industrial complexes.
The bio-based chemical complex will be one of the most important in the sector at a global level due to its innovative integrated production chain, its size and the massive overall installed capacity of 350 kt/a of bio-products.
Daniele Ferrari CEO of Polimeri Europa said: "We aim to grow a new key sector of the Italian economy, creating a virtuous cycle based on technological innovation and sustainable bio-products with low environmental impact and high integration with the local territory. We are confident that this is an industrial model that will be exported."
By joining forces with Novamont in the fast growing renewable bio-materials business, Polimeri Europa stabilizes and strengthens its traditional chemical business and at the same time transfers research and innovation from the bio field into fossil chemistry.
Catia Bastioli, CEO of Novamont said: "Novamont's vision is to achieve full implementation of a "Biorefinery model closely linked to the Territory" through cooperation with the agricultural, industrial, institutional and academic sectors. Our intention is to deliver an exemplary model in the global market place, inspiring an innovative approach in the use of renewable raw materials with maximum attention given to the environmental impact on the local territory."
Novamont is a company that was created by a group of researchers following the example of Giacomo Fauser. The company's ambitious project, "Living Chemistry for Quality of Life," combines chemistry, agriculture and the environment. Novamont provides the best solution to the demands of consumers, companies and institutions for innovative products for truly sustainable growth. In developing the new generation of products made from renewable raw materials of agricultural origin, Novamont strategically chose to adopt the latest testing procedures such as Life Cycle Analysis (LCA), and certifications such as the Environmental Product Declaration (EPD).
Eni S.p.A. is an Italian multinational oil and gas company, present in 70 countries, and currently Italy's largest industrial company with a market capitalization of 87.7 billion euros (US$138 billion).