China, US Companies in Joint Biofuel Venture
CHINA & US - Chinese egg producer Beijing DQY Agriculture Technology Co Ltd has teamed up with American meat supplier Smithfield Foods Inc to set up a $1.8 billion biofuel plant company in the United States.
21 May 2012
2 minute read
By: The venture is expected to be operational by the end of 2012 and will use waste from a Smithfield pig farm, producing a power generation capacity of 1 megawatt.
The venture will also produce 3.5 million cubic meters of methane and 7 million kWh of electricity every year. It will also reduce carbon dioxide emissions by 42,000 tons.
Under the plan, DQY will generate power by transforming the manure of more than 82,000 pigs into methane, along with a power generation capacity of 1 mW. The contract is estimated to be worth $5 million.
"We are planning to achieve power generation capacity of 10 mW from our second-step project planned later this year with a contract value of around $50 million," says Zhong Kaimin, chairman and president of DQY.
"With Smithfield's 2,682 pig farms and more than 26 million pigs in the US alone, we are capable of generating more bio-energy power in the US over the next 10 years. This would help reduce carbon dioxide emissions by 21 million tons every year, four times more than the current annual emissions in Chicago."
