China makes million investment in Danish Novozymes
19 June 2012
Novozymes and China join forces in new project, writes Nordvestnyt daily newspaper.
During his visit to Denmark, Chinese president Hu Jintao has signed a business contract with Novozymes. China will invest DKK 100 million in a new initiative by the Danish corporation.
Novozymes will help Chinese entities exploit the remains of cellulose to the use of ethanol. The chemical component to a long range of products will be sold by the Chinese enterprise Sheng-quan.
- This is the classic Novozymes story, transforming a by-product into a useful product of value, so that you get more out of less, says communication employee in Novozymes, René Tronborg.
The project generates 500 jobs.