Novozymes, the world’s largest producer of industrial enzymes, is upbeat on growth opportunities in China. The Denmark-based biotech giant will increase investment in China, including in production and customer-facing activities, as the company’s local business grows, according to Peder Holk Nielsen, president and chief executive officer of Novozymes, during a trip to Beijing Monday [18 September 2017]…Full Article: ECNS.cn Sept 2017
- Denmark’s Novozymes supplies industrial enzymes to producers of ethanol, textiles, bread, and detergent. The company reportedly has a 48% global market share and is hoping to grow its business in line with China’s 2020 bioethanol gasoline push. As of 2017, the company had roughly 1,000 employees in China.
- In September 2017, China announced it would institute nationwide ethanol use in gasoline by 2020. The common ethanol fuel mixture, E10 (i.e. 10% ethanol), is expected to be adopted across China and will likely benefit ethanol producers including, Shandong Longlive Bio Technology (SHE:002604) and COFCO Biochemical Anhui (SHE:000930). At the time, the Chinese government had already introduced ethanol in gasoline in 11 provinces, including Guangxi, Jilin, and Liaoning.
- In 2016, China produced on average 2.1 million MTs of ethanol fuel annually and had a biomass energy capacity of 10 gigawatts (GW), which was below the target goal of 13 GB by 2015.
- Founded in 2000 and headquartered in Bagsværd (near Copenhagen), Denmark, Novozymes A/S (CPH:NZYM-B) is biotech company that produces industrial enzymes, microorganisms, and proteins. In December 2013, Novozymes and Monsanto launched the BioAg Alliance, a joint initiative to develop microbial applications (i.e. promote phosphate uptake, pests/disease protection, etc.) for crop production.
Hong Kong Trends