31-05-2010: Novozymes, COFCO and Sinopec signed a Memorandum of Understanding covering the next steps towards commercialization of cellulosic biofuel in China. As part of the agreement, COFCO and Sinopec will build a cellulosic ethanol demonstration plant which Novozymes will supply with enzymes. The new plant comes online in the third quarter of 2011 and will produce three million gallons of bioethanol made from corn stover a year. In February, Novozymes launched new Cellic® CTec2, an enzyme product enabling the biofuel industry to produce cellulosic ethanol at a price competitive with gasoline and conventional ethanol.
“In 2009, we forged this partnership in China to develop biofuel from agricultural waste; today, we are one step closer to producing commercial quantities,” said Michael Christiansen, President, Novozymes China. “With gasoline prices hovering around $4 per gallon in China, companies across the country are reaffirming their commitment to investing in development of clean, alternative fuel sources.”
The new plant will be the largest demonstration facility converting agricultural waste into biofuel in China. China has an adequate supply of biomass, and agricultural residues alone exceed 700 million metric tons annually. A 2009 study by Novozymes and McKinsey showed that by converting agricultural residues into fuel ethanol, China can reduce its gasoline consumption by 31 million tons in 2020, thereby reducing its dependence on imported petroleum by 10% and abating 90 million tons of CO2 emissions. By doing so this industry will create 6 million direct jobs, resulting in an RMB 32 billion – around $4.7 billion – income increase annually.
BASF, Cargill and Novozymes have signed an agreement to develop technologies to produce acrylic acid from renewable raw materials.Presently, acrylic acid is produced by the oxidation of propylene derived from the refining of crude oil. BASF, Cargill and Novozymes will develop bio-based tech ... more
Novozymes announced an exploratory research agreement with Sea6 Energy, an India-based company, to jointly develop a process for the production of biofuels from seaweed. The research alliance will use enzymes to convert seaweed-based carbohydrates to sugar, which can then be fermented to pr ... more
Novozymes, COFCO and Sinopec signed a Memorandum of Understanding covering the next steps towards commercialization of cellulosic biofuel in China. As part of the agreement, COFCO and Sinopec will build a cellulosic ethanol demonstration plant which Novozymes will supply with enzymes. The n ... more
ICIS Chemical Business magazine has unveiled its annual ICIS Top 100 Chemical Companies listing ranked by 2011 sales.
At the top is Germany's BASF with $95.2bn in sales, followed by a new number two - China's Sinopec with $65.8bn in chemical sales, which edged out US-based ExxonMobil Chemic ... more
BASF and China Petroleum & Chemical Corporation (SINOPEC) have signed a Memorandum of Understanding (MoU) to further strengthen their cooperation by jointly exploring the possibility of building a world-scale isononanol (INA) plant in Maoming Hi-tech Industrial Development Zone, Maoming, Ch ... more
BASF and SINOPEC inaugurated the $1.4 billion second phase of their integrated petrochemical site in Nanjing, bringing crucial chemicals to the China market that will support the development of more sustainable local industries.
“Through this successful partnership, we are able to bring vit ... more
China Petroleum & Chemical Corporation (hereinafter referred to as "Sinopec Corp.") is a listed company on domestic and international stock exchanges with integrated upstream, midstream and downstream operations, strong oil & petrochemical core businesses and a complete marketing network. more