Novamont invests 100 million euros in biochemical plant
The Italian biochemical company has opened the first plant in the world to make a chemical compound used in the production of plastics with renewable sources.
In what’s being described as a world first, Italian biochemical company Novamont has opened a dedicated plant to make a chemical compound used in the production of plastics with renewable sources.
According to Novamont CEO Catia Bastioli, the company has invested 100 million euros (US$112 million) to convert an abandoned plant near Rovigo in Italy’s Po River delta to start industrial production of the chemical compound, bio-butanediol.
Novamont’s production will be used primarily for biodegradable plastics for fruit and vegetable bags, food service products, and shopping bags, Bastioli said. The bio-butanediol chemical compound is made from sugars derived from corn biomass.
Until now, industrial production of butanediol has only been from fossil fuel sources. The new Novamont plant will produce 30,000 tons a year, with the current global market running around 2 million tons.