China makes million investment in Danish Novozymes

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.