Rice forms staple of new bioenergy deal in China

Sino Bioenergy has announced the signing of a 10-year sales contract by its subsidiary Huizhou Shi Ji Wu Feng Agricultural Biotechnology (HB) to supply rice super seeds to Jiangxi Jingcai Nonglin Science and Technology (JJN).

The contract includes consulting and technical guidance as well as providing promotional materials to JJN. The contract is expected to generate $1.46 million (€1 million) in sales this year increasing to $14.6 million in 2014 and a projected $43 million by 2015.

HB describes its super rice seeds as ‘disease resistant and high yielding genetically improved rice with an increased length of 25% over normal rice’.

‘This 10-year contract to supply our seeds is a significant step for the company in executing its three-pronged business plan,’ says Sino Bioenergy CEO Daniel McKinney, which also includes supplying biomass factories to municipal governments or for green electricity production.

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