China Clean Energy Inc. expands line of credit

China Clean Energy Inc. announced that its wholly owned subsidiary, Fujian Zhongde Energy Co., Ltd., secured a line of credit for up to 33 million yuan (US$4.83 million) from Fujian Haixia Bank, formerly Fuzhou City Commercial Bank. Together with the company’s existing facility secured through its wholly owned subsidiary Fujian Zhongde Technology Co. Ltd. in April 2009, the company’s aggregate credit line with Fujian Haixia Bank is now 41 million yuan (US$6 million). The company expects to use the expanded credit facility to fund the working capital requirements associated with its recently expanded production capacity. The company’s new Jiangyin plant has the capacity to produce 100,000 tons of biodiesel per year, or 30,000 tons of specialty chemicals per year, or a combination of biodiesel and specialty chemicals for a total output of 70,000 tons per year. (March 12, 2010)