China Clean announced today that the trial production phase at its Jiangyin plant was successfully completed. Additionally, it was announced that the Company's administrative headquarters is now located at the new plant. And finally they announced, which was previously announced, the Jiangyin plant will increase the Company's specialty-chemicals capacity by 30,000 tons per year to a total of 40,000 tons per year, the new plant will increase biodiesel capacity by 40,000 tons per year to 50,000 tons per year.
"We are very pleased with the results from the trial phase as the production equipment is operating according to plan," said Mr. Tai-ming Ou, China Clean Energy's Chairman and CEO. "With the continued support of our customers and hard work and dedication of our partners and employees we have launched commercial operations at the Jiangyin plant in January 2010. We expect our existing customers to absorb up to 50% of our increased specialty-chemicals capacity within the next 6 months, and intend to strengthen our business development efforts to ensure a ramp-up to full capacity by the end of 2010."
With all of these numbers being thrown out, management also believes that revenue for the first quarter of 2010 to be RMB 50 million (approximately $7.3 million), representing an increase of approximately 150% over the comparable period in 2009.
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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.
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