China Clean Energy partners with Fuzhou University

China Clean Energy Inc., a producer of biodiesel and renewable chemicals, has formed a research and development agreement with Fuzhou University to develop new processes to produce isostearic acid. Under the agreement, China Clean Energy will provide the university with RMB 3 million ($469,000). Future patent rights will be shared equally by the two parties. According to information released by China Clean Energy, it will have the option to purchase the percentage of the patent it does not own within two years of the project's completion. The project is currently expected to be complete within 12 months.

"We are pleased to work closely with Fuzhou University and Dr. Huidong Zheng, a distinguished and renowned professor who has previously participated in many important national research projects," said Tai-ming Ou, China Clean Energy's Chairman and CEO. "Working with Fuzhou University adds another dimension to our own product development efforts. This new production process reinforces our focus upon value-added specialty chemicals and should positively impact our product portfolio in the future."

While Biodiesel Magazine was unable to reach a representative of China Clean Energy for comment on the announcement, a financial statement posted to the company's website in August showed revenue for the quarter ended June 30 was up 36.2 percent compared to the same period last year. In the statement, Ou attributes the company's financial performance to an improved product mix, among other factors.

"Our continued strong financial results for the second quarter reflect the execution of our strategic plan to expand our facilities, boost our production capacity, optimize our sales efforts and migrate to high value products," Ouin said the financial statement. "Our continued margin expansion and increase in profitability is evidence of our improved product mix resulting from our ramp up to full capacity at our Jiangyin plant. As anticipated, our amplified scale of production has opened up new marketing opportunities which we expect will drive strong results through the remainder of the year."