Chinese Henan Investment Group and Chempolis sign agreement on biorefinery pulp mill project

OULU, Finland, Oct. 18, 2010 (Press Release) - Henan Investment Group, a Chinese industrial investment conglomerate and Chempolis Ltd., a biorefining technology leader providing sustainable solutions for biomass, paper and petrochemical industries, signed a frame agreement aiming at co-operation with respect to biorefinery pulp mill project. The purpose of the agreement is to conduct a feasibility study in order to make a formal agreement.

Henan Investment Group is a strong state-run company with existing non-wood pulp production and expanding paper production in Henan province. "In Henan, large amount of pulp mills are to be closed due to environmental pollution. For Chempolis, beginning co-operation with Henan Investment Group opens up great possibilities to access promising markets in Henan with our environmentally sound formico® biorefining technologies", says Esa Rousu, CEO and President of Chempolis Ltd.

The business delegation was lead by the Vice-Governor of Henan province Mr. Zhang Dawei. Henan province, inhabited by nearly 100 million people, is traditionally a strong agricultural province and currently the biggest producer of wheat in China. It is a major economy and under strong industrialization, agricultural modernization and urbanization. The Vice-Governor, Mr. Zhang encouraged Henan Investment Group and Chempolis to take immediate co-operative actions.