Zhuhai Oil Energy Plant Now Operational – Increases Biofuel Production Capacity; Biomagnetics Prepares to File Patents
(Market Watch) Biomagnetics Diagnostics Corp., a developer of revolutionary diagnostic systems and other innovative technologies, today announced that Zhuhai Oil Energy Science and Technology Ltd. has significantly increased its biofuel production capacity at its Guangdong operation. Biomagnetics recently signed a letter of intent to acquire Zhuhai Oil Energy including all assets, intellectual property, plant, equipment, and a previously signed contract to supply cleaner burning biofuels to a local Guangdong province electric power plant.
…While coal remains the primary fuel for electricity production throughout most of China, the situation in Guangdong is very different with the province having built more than 10 million kW of fuel oil power generation over the past two decades to meet electricity demands from the rapidly growing export-oriented manufacturing industry in the Pearl River Delta. READ MORE