Biofuels processing plant and technology supplier China New Energy Ltd has won a £20m order to upgrade a biofuel facility in Jilin Province, China.
The facility currently takes corn and converts it into ethanol and it will be changed into a plant using non-edible cellulosic plant waste into acetone, butanol and ethanol.
The £20m should be earned between now and the end of 2013.
At 4.38p a share, up 0.12p, China New Energy is valued at £13.6m.
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