Release
China Clean Energy Inc., a producer of biodiesel fuel and environmentally friendly specialty chemical products made from renewable resources, announced a research and development agreement for RMB 3 million with Fuzhou University. The research project will focus on developing new processes for the production of isostearic acid, which is used in a variety of industries, including cosmetics and personal care. This will help the Company to continue to develop products with higher gross margins developed from the same raw materials relative to its competitors.
"We are pleased to work closely with Fuzhou University and Dr. Huidong Zheng, a distinguished and renowned professor who has previously participated in many important national research projects," said Mr. Tai-ming Ou, China Clean Energy’s Chairman and CEO. "Working with Fuzhou University adds another dimension to our own product development efforts. This new production process reinforces our focus upon value-added specialty chemicals and should positively impact our product portfolio in the future."
Under the Agreement, China Clean Energy will provide funding to Fuzhou University of RMB 3 million. Future patent rights will be shared equally by the two parties, and the Company has to the option to purchase the percentage of the patent it does not own within two years after the project’s completion, which is expected to be completed within 12 months.
About China Clean Energy
China Clean Energy, through its wholly-owned subsidiaries, Fujian Zhongde Technology Co., Ltd. and Fujian Zhongde Energy Co., Ltd, is engaged in the development, manufacturing, and distribution of biodiesel and specialty chemical products made from renewable resources. For additional information please visit: https://www.chinacleanenergyinc.com
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