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Maire Tecnimont and Bio-on sign agreement on urea coating company

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World Fertilizer,

Maire Tecnimont S.p.A. – through Maire Green Chemicals s.r.l. – and Bio-on S.p.A have signed an investment agreement that regulates the entry of Maire Green Chemicals in the share capital of U-Coat (Urea Coating) S.p.A. with an equal 50% participation.

U-Coat is a new company established by Bio-on. It is dedicated to the production and marketing of an innovative technology for the coating of urea as fertilizer. U-Coat is part of a global, quickly growing market, with technology based on PHA bioplastics (polyhydroxyalkanoates) designed by Bio-on. These PHA bioplastics are manufactured from renewable plant sources with no competition with food supply chains. When properly dosed, the PHA coats the urea pellet, which will have a controlled release in the ground while protecting the fertilizer from rains and maximising its effect. It also does not leave any residue in the ground.

Under the terms of the investment agreement, Maire Tecnimont claims that it will act globally as turnkey contractor on an exclusive basis to implement plants based on this innovative technology. The global urea market is rapidly growing at a rate of +4% per year, and represents a large market where this new technology can be commercialised.

Maire Tecnimont Group Chief Executive Officer, Pierroberto Folgiero, said: “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, beside 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.”

Marco Astorri, President and CEO of Bio-on S.p.A., added: “I am extremely proud to share with Maire Tecnimont S.p.A. - this new and important market opportunity. Being able to study and develop new fertilizers for the agricultural world through the technology setup by Bio-on together with Maire Tecnimont, worldwide leader in the technologies related to the urea production, allows us to build a more sustainable future, full of new bio products.”

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