Most of the attention was on M&G Group's plans for a mammoth PET and purified terephthalic acid plant in Corpus Christi, Texas, but during his presentation, CEO Marco Ghisolfi also took time to talk about the company's developments in bioresins.
In October, M&G
of Tortona, Italy, released its Proesa technology, which converts cellulosic, non-food, biomass sources into sugar.
The sugar is then fermented into ethanol or other chemicals and used to create biofuels and biochemicals.
The Proesa process gives M&G
a competitive advantage, Ghisolfi
It can be made using any type of biomass, like agricultural residue, and is processed in a way that separates the C5 and C6 molecules in sugar.
The C6 sugars are used to produce ethanol and the C5 are used to make glucose, he
"A lot of beautiful things are too expensive.
We want to make sure we can be competitive with actual petroleum-based fuels," he
, with help from Fort Worth, Texas-based private equity firm TPG Capital
, is currently building a biorefinery in Crescentino, Italy, to produce biofuels or green gasoline, Ghisolfi
The company will eventually license the Proesa technology to other companies for biofuel development.
The company also plans to build a large biorefinery in Mexico that will concentrate on biochemical development.
is currently completing agriculture and agronomy studies in the area, Ghisolfi