Beta Renewables is a leader in the field of advanced biofuels and biochemical compounds at competitive costs. It was established at the end of 2011 as a joint venture between Biochemtex, a company of the Mossi Ghisolfi Group, and the U.S. fund TPG (Texas Pacific Group) with a total investment of 250 million Euro (350 million dollars). At the end of 2012, Novozymes – world leader in the enzymes industry – became a shareholder of Beta Renewables, with the acquisition of 10 percent of the shares, amounting to 90 million Euro. Beta Renewables owns the ProesaTM technology, applied to the field of biofuels and chemical intermediates. Beta Renewables manages the plant in Crescentino (VC), the first commercial facility in the world for the production of second-generation ethanol.