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Beta Renewables and Novozymes to Form Strategic Partnership in the Cellulosic Biofuel Market



Beta Renewables and Novozymes to Form Strategic Partnership in the Cellulosic
Biofuel Market

WILMINGTON, N.C., Oct. 29, 2012 (GLOBE NEWSWIRE) -- via PRWEB - Companies
enter into strategic partnership making Novozymes the preferred enzyme
supplier for Beta Renewables' current and future cellulosic biofuel projects.

Novozymes, the world's largest producer of industrial enzymes, and Beta
Renewables, a global leader in cellulosic biofuels and part of Gruppo Mossi &
Ghisolfi, today announce an agreement to jointly market, demonstrate and
guarantee cellulosic biofuel solutions. As part of the agreement, Novozymes
will acquire a 10% share in Beta Renewables, paying approximately $115 million
cash for the equity, marketing fees, other intellectual property rights and
milestone payments.

The partners will offer customers looking to produce biofuels from
agricultural residues, energy crops and other cellulosic feedstocks a
combination of Novozymes' Cellic® enzymes and Beta Renewables' PROESA™
engineering and production technology. Beta Renewables will embed Novozymes'
enzymes in the PROESA technology and guarantee biofuel production costs upon
start-up of customers' cellulosic facilities. The deal is unique in offering a
combined solution that reduces the risk in customers' projects while providing
competitive commercial terms.

"This type of complete offering will significantly de-risk cellulosic biofuel
projects financially as well as technologically for our customers," says Beta
Renewables' Chairman and CEO, Guido Ghisolfi. "It will make cellulosic biofuel
projects bankable and accelerate large-scale commercialization of the
industry."

"Large-scale commercialization of cellulosic biofuels is taking off, and this
is a fantastic opportunity for Novozymes," says Peder Holk Nielsen, Executive
Vice President at Novozymes. "Beta Renewables is an extremely committed
industry front-runner. They are building advanced biofuel facilities all over
the world and, by being their preferred enzyme supplier, Novozymes will gain
access to significant new business opportunities. We expect Beta Renewables to
be able to contract 15-25 new facilities within the next three to five years.
The sales potential for Novozymes from these plants could be up to $175
million."

World's largest advanced biofuel plant

In the last five years, Beta Renewables has invested over $200 million (€140
million) in development of the cost-competitive PROESA process. PROESA is the
same technology that will be used at the world's largest cellulosic ethanol
plant in Crescentino, Italy, where operations are expected to start by the end
of 2012. The plant will initially produce 13 million gallons (50 million
liters) of ethanol per year from wheat straw, energy crops and other locally
available feedstocks. It has a design capacity of 20 million gallons (76
million liters) per year.

"Just one year after it was established, Beta Renewables has become a global
leader in the production of non-food biofuels and biochemicals," says Guido
Ghisolfi. "This agreement has double value: It demonstrates the full
integration of the PROESA process with the enzyme technology and allows Beta
Renewables to guarantee a full lignocellulosic cost."

Beta Renewables has also secured a deal to build at least one manufacturing
plant in Brazil with GraalBio, and, recently, Gruppo Mossi & Ghisolfi received
a $99 million loan guarantee from the U.S. Department of Agriculture to
construct Project Alpha, a cellulosic biofuel plant in North Carolina.

Novozymes is the world's leading supplier of enzymes to the biofuel industry.
The Denmark-based biotech company's Cellic enzymes enable cost-efficient
conversion of biomass to ethanol and are broadly regarded as the industry
benchmark.

Conference call

Today, Oct. 29, 2012, Novozymes will host a conference call for investors,
analysts and media at 5:45-6:30 p.m. CET/12:45-1:30 p.m. EDT. The call can be
accessed via
http://www.novozymes.com/en/investor/events-presentations/Pages/conference-call.aspx
or by dialing:

Denmark: +45 3272 8018, UK: +44 1452 555 131, USA: +1 8666 828 490

Industry and media briefing

Also today, Novozymes Executive Vice President Peder Holk Nielsen and Beta
Renewables Chairman and CEO Guido Ghisolfi will discuss details of the
partnership at a briefing for industry and media at the Advanced Biofuels
Markets Conference in San Francisco, California. The briefing takes place in
the Divisadero room of the Parc 55 Hotel at 4:15-5:00 p.m. PDT.

About Novozymes

Novozymes is the world leader in bioinnovation. Together with customers across
a broad array of industries we create tomorrow's industrial biosolutions,
improving our customers' business and the use of our planet's resources.

With over 700 products used in 130 countries, Novozymes' bioinnovations
improve industrial performance and safeguard the world's resources by offering
superior and sustainable solutions for tomorrow's ever-changing marketplace.
Read more at http://www.novozymes.com.

About Beta Renewables

Beta Renewables is the leader in making non-food cellulosic biomass practical
and cost-competitive for the production of advanced biofuels and biochemicals.
Beta Renewables is a unique $350 million (€250 million) joint venture formed
from the Chemtex engineering division of Gruppo Mossi & Ghisolfi, and TPG. The
M&G Group 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. The company has over 60 years of success in
process development and commercializing hundreds of plants worldwide. Beta
Renewables has invested over $200 million (€140 million) in the development of
the PROESA™ process. The company is currently building the world's first
commercial-scale cellulosic ethanol facility in Crescentino, Italy, expected
to start operations by the end of 2012.

This article was originally distributed on PRWeb. For the original version
including any supplementary images or video, visit
http://www.prweb.com/releases/2012/10/prweb10066203.htm

CONTACT: Beta Renewables
         Michele Rubino
         michele.rubino@betarenewables.com
         +1 (617) 230-6162
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