Denmark-based healthcare company Novozymes has invested €90m ($115m) for 10% of Beta Renewables, a joint venture between Italy-based packaging and chemicals company Gruppo Mossi & Ghisolfi and private equity firm TPG. Novozymes and Beta Renewables 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. Peder Holk Nielsen, executive vice-president at Novozymes, said: “Beta Renewables is 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 to 25 new facilities within the next three to five years. The sales potential for Novozymes from these plants could be up to $175m.” The TPG Alternative & Renewable technologies (Art) team has been investing in alternative and renewable technologies at the private equity firm since 2005, including $99m for Beta Renewables.

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