COFCO, Novozymes and SinoPec signed a framework agreement on cellulosic ethanol technology development on January 15, 2009. The three will target Chinese and international markets to explore new opportunities for China’s energy resources.
Based on their own technical advantages and R&D achievements, the three will work together to develop cellulosic ethanol technology from agro-waste and study the feasibility to industrialize the production. Compared to fossil fuel, cellulosic ethanol will reduce great amount of greenhouse gas emission.
To develop the technology and industrialize its production is one of China’s 11th 5-Year-Plan objectives as well as an important measure COFCO takes to achieve sustainable development of bio-energy.