CHINA New Energy on December 12 has signed a Letter of Intent with Guangzhou Zhongke Tianyuan Regeneration Resources Engineering Co. Ltd. (GZTY) to acquire 88.5% of the legal and beneficial interests of Bengbu Boltech Bio-technology Co. Ltd., a local active yeast and yeast extracts supplier.

On a facility leased from COFCO Bio-chemical, Boltech has completed the construction of a production plant capable of producing 15,600 tonnes of liquid yeast (equivalent to 3,000 tonnes of active dry yeast) per year and began commercial production in July. The yeast produced and sold by Boltech is specifically formulated for use in the process of ethanol production.