Green Biologics signs agreements with Chinese firms

Green Biologics Ltd., a U.K.-based biotechnology company, has signed agreements with two Chinese biochemical companies, Guangxi Jinyuan Biochemical and Lianyungang Union of Chemicals, to increase its foothold in the country’s fast growing green technology industry, the Financial Times reported. The agreements, which involve the production of biobutanol, are expected to reach about US$15 million within five years. Green Biologics will apply fermentation technology in its existing production facilities in China to produce biobutanol. Sean Sutcliffe, chief executive of Green Biologics, said cooperation with the Chinese companies will provide a platform for incubating a new generation of biofuel technology, as well as lower-cost advantages from refining biobutanol from wastes and by-products, instead of from foodstuff. (January 4, 2011)