Shengquan is a leading producer of furfural using xylose in corncobs, a monomer for resin production in the foundry industry. Using Novozymes enzymes, Shengquan will now convert corncob residues from furfural production into fermentable sugars and then into ethanol for solvents and other purposes.

Shengquan is a global first mover in this industry, which is on the verge of materializing right now. Shengquan has profound experience in chemical production and is a leading company in commercializing cellulosic ethanol.

—Poul Ruben Andersen, Vice President for Bioenergy at Novozymes

Shengquan’s cost model shows that its current production cost of cellulosic ethanol is cost-competitive with conventional ethanol as the feedstock is a by-product of their current production.

Novozymes is a leading enzymatic solution provider in bioenergy. It partners with leading producers of cellulosic ethanol all over the world to commercialize this new technology.

A recent study by Bloomberg New Energy Finance estimates that the advanced biofuel industry has the potential to create millions of jobs, economic growth and energy security worldwide.

Looking at China alone, the study shows that using less than 20% of the available agricultural residues China could produce more than 89 billion liters (23 billion gallons) of biofuel, replacing 37% of its gasoline consumption by 2030.

This would create 2.9 million jobs and reduce CO₂ emissions from gasoline-based transportation by 29%, according to the analysis. The figures would be even higher if biomass from forestry residues, household waste and energy crops was included.