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Versalis And Elevance Partner In Green Innovation For Premium Applications



2/6/2014 9:21:22 AM

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Milan, Italy/Woodridge, Illinois, USA – 6 February 2014 – Versalis, the chemical subsidiary of Eni, and Elevance Renewable Sciences, Inc., a producer of specialty chemicals from natural oils, have signed a Memorandum of Understanding (MoU) to establish a strategic partnership to jointly develop and scale a new metathesis technology to produce bio-chemicals from vegetable oils.

Versalis and Elevance intend to focus on jointly developing and scaling new catalysts, leveraging the significant progress of this technology that has been already accomplished by Elevance. In addition, the partners will assess the design and construction of the first world-scale ethylene metathesis-based production that will utilize renewable oils at the Versalis Porto Marghera site. This will also take advantage of existing infrastructures and production streams.

The market applications of the future bio-chemicals production will be personal care, detergents and cleaners, bio-lubricants and oilfield chemicals.

“The bio-based chemicals business is central to Versalis’ new industrial and business approach. The agreement with Elevance will further enhance our capability to progress in green innovation while boosting the transformation of one of our petrochemical sites into a more competitive and long-term sustainable complex, thus creating synergies between the renewable with the petrochemical industries,” said Daniele Ferrari, Versalis CEO.

“This partnership with Versalis is a natural next step building on the commercially competitive demonstrations of molybdenum-catalyzed metathesis of natural oils that we have achieved in our partnership with XIMO,” said K’Lynne Johnson, Elevance CEO. “Versalis is an excellent partner for this next step due to its focus on developing innovative bio-based chemicals and potential to derive future synergies from integration at its Porto Marghera site.”

Versalis will contribute its extensive skills in catalysis process development and engineering design scale-up and Elevance will bring proprietary know-how regarding metathesis and associated engineering with the use of vegetable oils in producing specialty chemicals for premium applications, leveraging similar projects in the U.S. and Asia.

About Versalis

Versalis (Eni) is interfacing with markets through globally-oriented strategies and a market-driven product portfolio. It leads the industry in manufacturing intermediates, polyethylene, styrenics and elastomers and is entering the green chemicals and polymers industry partnering with worldwide biotech companies. Versalis prides itself on its wide range of proprietary technologies, wide-reaching distribution network and after-sales assistance.

As part of its new strategy, the company aims to gain a leadership position in fast-growing markets by leveraging its technological and industrial expertise. In Asia, Versalis has entered into partnerships with global petrochemical producers for development of its elastomer division.

About Elevance Renewable Sciences, Inc.

Headquartered in Woodridge, Ill., Elevance Renewable Sciences, Inc. creates novel specialty chemicals from natural oils for use in personal care products, detergents and cleaners, lubricants and additives, engineered polymers, and other specialty chemicals markets. Commercial shipments from the company’s first biorefinery, a 180,000 MT joint venture with Wilmar International Limited located in Gresik, Indonesia, began in 2013. Elevance’s Natchez, Miss., site is scheduled to be the second biorefinery with a capacity of 280,000 MT. To learn more, visit www.elevance.com or www.renewicals.com.

Company Contacts:
Eni Press Office: Tel. +39.0252031875 – +39.0659822030
Freephone for shareholders (from Italy): 800940924
Freephone for shareholders (from abroad): +39.800 11 22 34 56
Switchboard: +39-0659821

ufficio.stampa@eni.com
segreteriasocietaria.azionisti@eni.com
investor.relations@eni.com
Website: www.eni.com

Elevance Renewable Sciences, Inc.
Media Contact:
Patti Bianchi, Slack and Company
+1 630-841-1771
patti.bianchi@slackandcompany.com

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