26 Februar 2015

TOP Agreement for developing and producing a molecule for green chemical industry

Companies collaboration on defining and optimising the production of levulinic acid

Bologna, 16 February 2015 – A new collaboration is announced between two Italian companies operating in the sustainable chemical and agricultural industry, Bio-on S.p.A and Eridania Sadam S.p.A. The two companies will work together on defining and optimising the production of levulinic acid, a key molecule for the sustainable and low-impact future of the chemical industry. Already available on the international market, but in insufficient quantities, levulinic acid is currently obtained from industrial processes with an environmental impact that fails to meet European standards.

The new project aims to convert the by-products of the sugar industry into levulinic acid, optimising innovative processes that team environmental sustainability and the reduction of production costs. The integration between agriculture and advanced biochemistry will enable levulinic acid production solely from agricultural waste not intended for human food, with carbon atoms generated from carbon dioxide captured in the atmosphere with chlorophyllian photosynthesis.

The collaboration between Bio-on S.p.A. and Eridania Italia S.p.A. adds a further building block in the construction of the Italian green chemical industry. This natural molecule, which has immediate application in the biodegradable plastics sector, extending its field of application, also contributes towards the creation of new eco fuels, fertilisers and antiparasitics; it is also an intermediate element in the creation of high-performing plastics, medications and many other new “green” products.

“At this initial development stage conducted by Bio-on, we will invest 1.8 mln Euro,” says Massimo Maccaferri, Chairman of Eridania Sadam, “because this molecule is an extraordinary tool that can kick-start the re-launch of the Italian chemical industry, but with a modern, eco-compatible and eco-sustainable approach.”

“Levulinic acid is considered one of the ten “building blocks” of the green chemical industry of the future,” explains Marco Astorri, Chairman of Bio-on S.p.A. “Working on a new method of producing it on an industrial scale over the coming months fills us with pride and enables us to consolidate our leadership in the development of modern biochemistry.”

About Eridania Sadam S.p.A.

Eridania Sadam is an Italian agro-industrial group operating in the production, packaging and marketing of sugar, sweeteners and other foodstuffs. Eridania Sadam is also involved in international sugar trading through its controlled companies in Switzerland. Eridania Sadam is part of the Maccaferri Group based in Bologna, a diversified group with an income of approximately €1.2 bln, operating in the following sectors: environmental engineering – Officine Maccaferri; mechanical engineering – Samp; tobacco – Manifatture Sigaro Toscano; real estate – Seci Real Estate; energy – Seci Energia; biotechnologies – Gnosis.

About BIO-ON S.p.A.

Bio-On S.p.A., an Italian Intellectual Property Company (IPC), operates in the bioplastic sector conducting applied research and development of modern bio-fermentation technologies in the field of eco-sustainable and completely naturally biodegradable materials. In particular, Bio-On develops industrial applications through the creation of product characterisations, components and plastic items. Since February 2015, Bio-On S.p.A. has also been operating in the development of natural and sustainable chemicals for the future.

Bio-On has developed an exclusive process for the production of a family of polymers called PHAs (polyhydroxyalkanoates) from agricultural waste (including molasses and sugar cane and sugar beet syrups). The bioplastic produced in this way is able to replace the main families of traditional plastics in terms of performance, thermo-mechanical properties and versatility.

Bio-On PHA is a bioplastic that can be classified as 100% natural and completely biodegradable: this has been certified in Europe by Vincotte and in the US by USDA (United States Department of Agriculture). The Issuer’s strategy envisages the marketing of licenses for PHAs production and related ancillary services, the development of R&D (also through new collaborations with universities, research centres and industrial partners), as well as the realisation of industrial plants designed by Bio-On.
The alphanumeric codes for ordinary shares “ON” IT0005056236, for ordinary shares “ON” with bonus share IT0005056228 and for warrants “WARRANT Bio-On 2014-2017” IT0005056210. The minimum unit of trading envisaged by the Italian Stock Exchange is 250 shares.
 Company Nomad is EnVent S.p.A.. Banca Finnat Euramerica S.p.A. acts as company specialist.

 

Contacts

Eridania Sadam
Piero Tatafiore
Communication Corporate Gruppo Industriale Maccaferri
Tel.: +39 06 68804827
E-Mail: p.tatafiore@maccaferri.it

 

Issuer
Bio-On S.p.A.
via Dante 7/b
40016 San Giorgio di Piano (BO)
Marco Astorri
Tel: +39 051 893001
E-Mail: info@bio-on.it

 

Specialist
Banca Finnat Euramerica S.p.A.
Piazza del Gesù
49
00186 Rome
Lorenzo Scimia
Tel: +39 06 69933446
Fax: +39 06 6791984
E-Mail: l.scimia@finnat.it

 

Nomad
EnVent S.p.A.
Via Barberini
95 00187 Rome
Paolo Verna
Tel: +39 06 896.841
E-Mail: pverna@envent.it

Source: EuropaBio, press release, 2015-02-16.

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