DONG Energy and the Investment Fund for Developing Countries (IFU) enter
into a cooperation to establish the Inbicon technology on the Chinese
DONG Energy's business area New Bio Solutions has entered into a cooperation
with IFU. The investment fund is to contribute to the introduction of the
bio-based Inbicon technology for production of second generation bioethanol on
the Chinese market.
"Among other things, this cooperation will mean that IFU becomes a consulting
partner and co-owner of our office in Beijing which is responsible for the
commercial introduction of the Inbicon technology," said Henrik Maimann, who is
Vice President in DONG Energy and responsible for the business area New Bio
IFU, a state-owned fund, operates on market terms and only invests in
projects which are considered to be commercially viable, and which create an
impact on the development in the individual countries.
Senior Invetment Manager in IFU, Anders Nellemose, and Henrik Maimann from New Bio Solutions signing cooperation agreement
"In China, there's major political focus on the country's great climate
challenges, so it's a strategic key sector which we'll now invest in together
with DONG Energy and a number of Chinese companies," said Anders Nellemose,
Senior Investment Manager in IFU.
"Through this partnership, we'll come across as a strong Danish unit which
introduces green technology on the market and invests in specific bioethanol
plants. It's a good platform which can pave the way for further investments in
bio-based technologies, and it contributes to the good cooperation which we are
currently experiencing between China and Denmark," said Anders Nellemose.
DONG Energy's New Bio Solutions will sell the Inbicon technology as a
franchise. This means that potential customers buy the Inbicon technology to
establish second generation bioethanol plants and pay DONG Energy a licence for
know-how, consultancy services and development.
"We've decided to invest part of the licence fee in the establishment of the
individual plants to show faith in our own technology, and IFU is ready to match
our investments in the Chinese Inbicon projects. We'll then be in a position to
withdraw when the plants have proven their efficiency and operational
reliability," said Henrik Maimann.
IFU invested for the first time in China in 1987 and today, IFU has invested
more than DKK 10 billion in China together with a number of Danish companies.