Abundance International Forms China JV for Environment-Friendly Chemicals
Abundance International has formed a joint venture with Dalian Boyuan Innovation and Dalian Qinxing New Materials in China to develop environmentally friendly chemicals. The 60 million yuan project will utilize patented technology from the Dalian Institute of Chemical Physics to produce furan dicarboxylic methyl ester (FDME) from agricultural waste. Each partner will hold 40% equity, with Dalian Qinxing holding 20%. The initiative aims to meet the rising demand for sustainable materials in packaging and textiles.
Abundance International through its unit, Abundance Investments, has signed a joint venture agreement with China-based Dalian Boyuan Innovation and Technology and Dalian Qinxing New Materials Technology Development Partnership, according to a Monday filing on the Singapore Exchange.
The 60 million yuan venture will develop patented technology from the Dalian Institute of Chemical Physics to produce furan dicarboxylic methyl ester (FDME) from agricultural waste.
Abundance and Dalian Boyuan Innovation will each hold 40% equity, with the remaining 20% to be held by Dalian Qinxing New Materials.
The project aims to commercialize cost-efficient FDME and polyethylene furanoate production, addressing the growing demand for sustainable materials in packaging and textiles.
