29th Dec 2015 09:05
LONDON (Alliance News) - China New Energy Ltd on Tuesday said it has struck its first deal in North America after signing an agreement with BioNeutra North America Inc.
China New Energy, which provides engineering and technology services to the bioenergy sector, will design, manufacture and install a 5,000 tonne per isomaltooligosaccharide production line extension to the BioNeutra's existing facilities in Edmonton, Canada.
BioNeutra makes Vitafiber, a dietary-fibre and low-calorie sweetener product for the food industry.
The deal is worth around CAD3.0 million in total, half of which has already been paid and the majority of which will be paid by the completion of the project, expected within around six months.
China New Energy shares were up 23% to 2.47 pence early Tuesday, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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