Adisseo’s First Commercial-scale FeedKind? Protein Plant to Settle in Chongqing

Source: China National BlueStar (Group) Co, Ltd.

The world’s first commercial-scale Feedkind? protein plant will officially settle in Changshou District, Chongqing. The plant was built by Calysseo, a joint venture between Adisseo under Bluestar Adisseo Co., Ltd. (Adisseo,SH: 600299) and Calysta. It is an important milestone of the FeedKind? protein project, and a great opportunity to develop a major business in aquafeed ingredients in Asia with a market size of USD28 billion, representing 70% of world market.

FeedKind? protein is an economical, safe, healthy, nutritious and traceable protein source, which provides innovative solutions for the growth of aquafeed products. The project will be the very first commercialized FeedKind? facility in the world, with its first-phase designed capacity up to 20,000 tons expected to put into operation by 2022. If the first-phase project runs successfully, it will be followed by a second-phase investment, adding another 80,000-ton capacity, which will allow a prompt market penetration in the Asian market to build a profitable and sizable business opportunity for all parties.

Following the setup of its joint-venture Calysseo with Calysta in February 2020 aimed at developing a major business supplying aquafeed ingredients Feedkind?, Adisseo held a signing ceremony on the investment in the Feedkind? protein project on June 30. This reflects the Adisseo’s commitment to increasing its investment in China and pursuing aqua feed opportunities in Asia. Despite difficulties resulting from COVID-19 pandemic, the project has continuously progressed with supports from all parties, thus enabling the successful organization of the signing ceremony convened in the form of cloud meeting attended by representatives from all parties including officials from the governments of Chongqing municipality and Changshou District, representatives from Bluestar in Beijing, from Calysta in US and Shanghai, from Adisseo in Paris and Shanghai.

At the ceremony, Zheng Xiangdong, Vice Mayor of Chongqing, on behalf of the government of Chongqing municipality, extended his warm welcome and sincere gratitude to Bluestar, Adisseo and Calysta for choosing Chongqing as the home of FeedKind? production facility. He believes the project’s settlement in Changshou will contribute to the transformation and upgrade of the natural gas chemical industry in Chongqing and Changshou, promote the high-quality development and further reinforce China’s leading position in the industry in the world.

Zhao Shiqing, Party Secretary of Changshou District made a speech, saying that Changshou District will continue to deepen the reform of "delegating power, improving regulation, and upgrading services", strive to create a market-oriented, law-based and internationalized business environment, and vigorously support the project implementation and future development and operation by relying on the established chemical giant enterprises with a mature industrial ecosystem.

Hao Zhigang, Chairman of Bluestar Group and Adisseo, said that the signing ceremony marks another key step for the rollout of Adisseo business diversification strategy as well as its China development strategy, and is a major strategic investment of Adisseo and Calysta. As the controlling shareholder of Adisseo, Bluestar Group will continue to give our strongest support to Calysseo in building the first high-tech, safe and environmentally friendly FeedKind? manufacturing unit in Chongqing. Adisseo is developing and marketing high-quality feed additives for aquaculture and is now moving into a new dimension with FeedKind?. The ceremony brings us another step closer to the realization of our ambition and we are confident in building the plant into a demonstration project of the chemical industry of Chongqing. We believe that project will be successfully completed and put into operation, and will rapidly realize its returns, bring real benefits to consumers and provide more innovation capabilities for the industry.

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