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Business
M&G Boosts Biotech R&D
by Alex Scott
February 24, 2014
| A version of this story appeared in
Volume 92, Issue 8
Biochemtex, a subsidiary of Mossi & Ghisolfi Group, an Italian chemical and biotech firm, is investing $183 million to develop processes for converting nonfood biomass into fuels and chemicals, including ethylene glycol. Biochemtex will carry out the research at its labs in Rivalta Scrivia and Modugno, Italy. The firm has borrowed $89 million of the $183 million from the European Investment Bank.
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