Bio-on grants bioplastic technology license to Russian group TAIF for production in Russia. 17.6 million Euro agreement
24 Ottobre 2018 - 3:20PM
Bio-on grants bioplastic technology license to Russian group TAIF
for production in Russia. 17.6 million Euro agreement
- A highly important agreement for technological and commercial
relations between Italy and Russia was signed in Moscow in the
presence of Russian Federation President Vladimir Putin and Italy's
Prime Minister Giuseppe Conte.
- The agreement is worth 17.6 million Euro for Italian company
Bio-on: 5.6 million for licensing the technology to produce 100%
natural and biodegradable PHAs bioplastic, and 12 million for
supplying high-tech fermentors design plants to the TAIF JSC
group.
- This agreement will see the Russian Federation's first PHAs
production plant (in Republic of Tatarstan) with Bio-on technology.
The TAIF JSC group will invest 90 million Euro in the production
hub. The hub is expected to be operational by 2020.
Moscow (Russia) 24 October 2018 –
Bio-on, listed on the AIM segment of Borsa
Italiana and operating in the high quality bioplastic sector,
has signed an agreement with the Russian TAIF JSC group,
which will acquire a license to build the Russian Federation's
first plant producing 100% natural and biodegradable PHAs
bioplastic, in the Republic of Tatarstan.
The agreement was signed in the Kremlin
in Moscow as part of bilateral meetings between Italy and Russia,
in the presence of Russian Federation President Vladimir Putin and
Italy's Prime Minister Giuseppe Conte. It marks a major milestone
for the Italian company exactly 4 years since it was listed on the
Milan stock exchange in 24 October 2014 with the ON
symbol.
The agreement is worth a total of 17.6 million Euro
(as anticipated in the presentation of the half-year
results). In particular, 5.6 million goes on licensing Bio-on's
exclusive technology to produce PHAs from sugar beet by-products;
12 million goes on the supply of plant components built according
to Bio-on's proprietary technology. The industrial group TAIF JSC,
operating in the traditional petrochemical sector, will invest a
further 90 million Euro in building a 10 thousand tons/year
production site expandable to 20 thousand tons/year in the future.
The plant, the design of which will begin next month, will be
operational in 2020.With this project, the TAIF JSC group intends
to open up new sectors of development for the revolutionary “green”
plastic designed by Bio-on, both in segments traditionally served
by oil-based plastics and in high added value advanced sectors.
"This agreement is of major importance to us,"
explains Bio-on S.p.A. Chairman and CEO Marco
Astorri, "and it rewards the long and complex negotiations
process launched in 2017. Signing the first contract with one of
the main industrial groups in the Russian Federation, a leading
plastics manufacturer," continues Astorri, "confirms the immense
value of PHAs bioplastic, which is today the only alternative to
the environmental issues created by conventional plastics."
"It is an important milestone," adds
Vittorio Folla, Managing Director of Bio-on S.p.A.
who led the negotiations, "in the process of consolidating our
technology on international markets and, in tandem with our
licensing activity launched in 2015, it helps in the construction
of new production plants that can meet the growing demand for
product in a number of sectors." All the PHAs
bioplastics (polyhydroxyalkanoates) designed by
Bio-on are made from renewable plant sources with no competition
with food supply chains. They guarantee the same thermo-mechanical
properties as conventional plastics with the advantage of being
100% eco-sustainable and naturally biodegradable. They also offer
the possibility of new applications in sectors where conventional
plastic is not used.
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 conventional
plastics in terms of performance, thermo-mechanical properties and
versatility. Bio-on PHAs is a bioplastic that can be classified as
100% natural and completely biodegradable: this has been certified
by Vincotte and 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.
Emittente Bio-On S.p.A.Via Dante 7/b40016 San
Giorgio di Piano (BO)Telefono +39 051893001 - info@bio-on.it |
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BranchVia Barberini, 95 00187 RomaTel: +39 06 896.841 -
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SpecialistBanca Finnat Euramerica S.p.A.
Piazza del Gesù, 4900186 RomaLorenzo ScimiaTel: +39 06 69933446 -
l.scimia@finnat.it |