Dec 5, 2013 - Canadian biorefining technology firm Lignol Energy Corp (CVE:LEC) said today that it had signed a letter of intent (LOI) with Sichuan Xilin IM/EX Co Ltd to collaborate on the Chinese biorefinery market.
The agreement, sealed by Lignol’s unit Lignol Innovations (LIL), is non-binding on either party, the Canadian firm noted. As part of the deal LIL and Xilin will search for partnership opportunities that will commercialise LIL’s biorefining technology in China. It also envisages the possible creation of a joint venture and various investment options.
Xilin’s chairman and general manager Zeng Ai Gui noted that China offered strong potential for the production of biofuels and biochemicals from wood and agricultural waste.
At present, Lignol is developing a technology portfolio for the making of cellulosic ethanol, high value cellulose and high purity HP-LTM lignin. At the beginning of October the firm reported a comprehensive profit of CAD 3.96 million (USD 3.7m/EUR 2.7m) for its first fiscal quarter through July 31 against a loss of CAD 970,000 a year ago.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.