Maire Tecnimont and Bio-on together for biodegradable fertilisers
Maire Tecnimont S.p.A, through the Group’s company Maire Green Chemicals s.r.l, specialised in the green chemistry sector and Bio-on S.p.A, operating in the sector of bioplastic of high quality, have signed an investment agreement that regulates the entry of Maire Green Chemicals s.r.l in the share capital of U-Coat (Urea Coating) S.p.A. with an equal 50% participation.
U-Coat S.p.A. is a new company established by Bio-on and dedicated to the production and marketing of an innovative technology for the coating of urea as fertiliser. U-Coat is part of a worldwide, rapidly growing market and exploits a technology based on PHA bioplastics (polyhydroxyalkanoates) designed by Bio-on. In fact, PHA bioplastics are made from renewable plant sources with no competition with food supply chains. Properly dosed, the PHA coats the urea pellet, which will have a controlled release in the ground while protecting the fertiliser from rains and maximising its effect, without leaving any residue in the ground.
According to the investment agreement, Maire Tecnimont will act globally as a turn-key contractor on an exclusive basis to implement plants based on this innovative technology.
The urea global market is rapidly growing (+4% per year) and represents a really large market where this new technology can be commercialised. The partnership between Maire Tecnimont and Bio-on further confirms the Italian industrial leadership in green economy.
Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, commented: “With this agreement Maire Tecnimont strengthens its presence in green chemistry technologies, confirming its technology-driven approach also in a sector which will progressively increase its relevance, besides traditional chemistry. In line with ecological sustainability principles, the Group leverages its leadership in large downstream processing plants, while confirming its role as a pioneer, anticipating the evolution of international environmental regulations”.
“I am extremely proud to share with Maire Tecnimont S.p.A,” explains Marco Astorri, President and CEO of Bio-on S.p.A. “This new and important market opportunity. Being able to study and develop new fertilisers for the agricultural world through the technology set-up by Bio-on together with Maire Tecnimont, a worldwide leader in the technologies related to the urea production, allows us to build a more sustainable future, full of new bio-products”.