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Business

Chinese Firm Slates Biofuels In Finland

by Melody M. Bomgardner
February 22, 2016 | APPEARED IN VOLUME 94, ISSUE 8

The Chinese firm Sunshine Kaidi New Energy Group plans to spend $1 billion to build a plant in Kemi, Finland, that converts woody raw materials into diesel and gasoline. The project, which the company calls the first of its kind in the world, would produce 200,000 metric tons of fuel per year using Fischer-Tropsch chemistry. “We find Finland the most interesting country to invest in for biofuels production in the Northern Hemisphere,” says Kaidi CEO Chen Yilong. “Finland has vast biomass resources, plenty of potential partner companies, and an extremely progressive biofuels policy.” Kaidi currently operates a pilot plant in Wuhan, China.

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