China and the US to establish biofuel company in the US

China largest egg producers has agreed to co operate with a major meat supplier in the US to establish a biofuel company in the US, with a total investment of US$1.8 billion (€1.357 billion) Beijing DQY Agriculture Technology Co Ltd (DQY) and Virginia-based Smithfield Foods will set up a joint venture co-run by their subsidiaries, Beijing Helee Bio-Energy (HELEE) and Murphy-Brown, DQY.

The two companies also plan to utilise wastes at more than 2,600 pig farms of the Smithfield Foods over the next 10 years, which will lead to the reduction of carbon dioxide emissions by 21 million tons annually, four times the current yearly emission of Chicago, according to DQY. Read more ...

China new energy acquires 88.5 percent of Boltech

China new energy (CNE) limited has announced it has signed a letter of intent with Guangzhou Zhongke Tianyuan Regeneration Resources Engineering Co Ltd to acquire 88.5 percent of the Bengbu Boltech Bio-technology Co Ltd. “This strategic acquisition is part CNE’s ambition to provide integrated solutions to the biofuel and biochemical industries. At present, the wide use of dry active yeast in China is limiting the efficiency and performance of Chinese ethanol producers, and therefore is not economically sound. Boltech’s liquid active yeast can help our clients reduce costs and achieve superior results.” said Mr. Zhaoxing Tang, Chief Executive Officer of CNE. Read more ...