Key Developments: American Jianye Greentech Holdings Ltd (AJGH.PK)
0.07USD
20 May 2013
$-0.01 (-15.13%)
$0.08
$0.06
$0.07
$0.06
13,500
5,202
$0.30
$0.01
Latest Key Developments (Source: Significant Developments)
American Jianye Greentech Holdings Ltd. And Gulf Coast Energy Ltd. Announce To Jointly Build US Blending Factory
American Jianye Greentech Holdings Ltd. announced that it has reached a manufacturing and marketing partnership agreement with US Gulf Coast Energy Inc. Under the agreement, American Jianye and Gulf Coast Energy Inc. will jointly build a US blending factory in the state of Alabama, to manufacture and distribute 30 million gallons of alcohol-based fuel annually as phase 1 of the production plan. They will determine the size of the second phase of production based on the potential for market growth. Both parties have agreed to the following conditions: American Jianye will be responsible for providing the financing, design, engineering, construction and production of the blending factory in Alabama. Gulf Coast Energy will be responsible for the marketing, licensing and providing the land property for the blending factory in Alabama. Upon reception of the initial $1 million in funding from American Jianye, Gulf Coast Energy will provide the production site for the blending factory as well as the permit letter from General Motor, issued to the new blending factory, which allows for the use of the E15 to E85 fuel in cars. Gulf Coast Energy holds that permit letter from General Motor for its current operation. Full Article
American Jianye Greentech Holdings Ltd. Signs Marketing Partnership With Gulf Coast Energy Ltd.
American Jianye Greentech Holdings Ltd. announced that it has signed a marketing partnership agreement with US Gulf Coast Energy Inc., a manufacturing of alternative, environmentally friendly, renewable biofuels in the United States. Under the agreement, American Jianye and Gulf Coast Energy Inc., will jointly form a new company in state of Alabama, to cross-promote and market their respective competitive advantage in alcohol-based fuel . Specifically, Gulf Coast Energy will market American Jianye's alcohol-based fuels to its existing fuel stations customers and other fuel distributors. Full Article
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