The research project will focus on developing new processes for the production of isostearic acid, which is used in a variety of industries, including cosmetics and personal care.
Under the agreement, China Clean Energy will provide funding to Fuzhou University of CNY3m ($0.46m).
The two parties will equally share future patent rights, and the company has to the option to purchase the percentage of the patent it does not own within two years after the project’s completion.
China Clean Energy said the project is expected to be completed within one year.
China Clean Energy chairman and CEO Tai-ming Ou said the new production process reinforces the company’s focus upon value-added specialty chemicals and will impact its product portfolio in the future.
China Clean Energy is a producer of biodiesel fuel and environmentally-friendly specialty-chemical products made from renewable resources.
