Oman-based Towell Engineering Group and GF Biochemicals set up a joint venture (JV) for the production and marketing of biochemicals using GF Biochemicals proprietary technology.
The aim of the JV, whose name is NextLevvel Biochem, is to build a leading position in bio-solvents and bio-plasticizers based on levulinic acid. Levulinic acid is considered a key bio-based building block enabling a wide portfolio of derivatives.
Caserta re-starts from the bioeconomy. If the Southern Italian city between the Eighteenth and Nineteenth centuries was known everywhere for the quality of its silk, today can aspire to become a center of gravity of the new sustainable bio-based economy. Here, GF Biochemicals launched last July the commercial-scale production of levulinic acid, using biomass as feedstock. The levulinic acid is a chemical building block that is used in various industrial sectors, from pharmaceuticals to cosmetics, from personal care to flavors and fragrances, from coating to fuel additives. In 2015 the company has produced 2 thousand tons and aims at producing 10 thousand tons in 2017 and up 50 thousand tons by 2019. A revolution, if we think that the company located in Caserta is certain to offer to the market in a few years the bio-based levulinic acid to a price of one dollar per kilo, versus the current 4-5 dollars per kilo for the corresponding product from oil, offering the same performance.
The protagonists of this bio-revolution, which is a key to economic development crucial for Italy and the Southern Italy in particular, are Pasquale Granata, young local entrepreneur, and Mathieu Flamini, the famous Arsenal player, former AC Milan, who unveiled a few days ago his involvement in the company in an interview with the Sun on Sunday.
In this exclusive interview is Pasquale Granata to talk with us about GFBiochemicals and the bioeconomy, as a key to regional regeneration to create economic development and new jobs within a framework of eco-sustainability.