Beijing DQY and Smithfield Foods sign $1.8 billion biofuel

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Beijing DQY and Smithfield Foods sign $1.8 billion biofuel

By Greentech Lead Team: Beijing DQY,
an egg producer in China, will cooperate with Smithfield Foods, a major US meat
supplier to establish a biofuel company in the United States with a total
investment of $1.8 billion.

Both companies will set up
a joint venture co-run by their subsidiaries, Beijing Helee Bio-Energy (HELEE)
and Murphy-Brown to launch a pig farm biogas project. HELEE will provide core
technologies for the project.

The biogas project is expected to produce 3.5 million cubic meters of methane
annually and has a power generating capacity of 1 MW. The project will be able
to produce 7 million kWh of electricity each year and offset approximately
42,000 tons of carbon dioxide emissions annually.

The two companies also plan to utilize wastes at more than 2,600 pig farms of
the Smithfield Foods over the next 10 years, which will lead to a reduction of
carbon dioxide emissions by 21 million tons annually.

Smithfield Foods is the largest U.S. meat supplier with a market share in the
country of 22.5 per cent, while the DQY accounts for 45 per cent of the Chinese
egg market and has a biogas power project in Beijing that generates 14 million
kWh of electricity per year.

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