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CAS, BP to set up a joint venture for clean energy

Dec 01, 2008


CAS and BP have agreed to jointly invest 500 million yuan to establish a center for clean energy commercialization. CAS Vice President Prof. LI Jinghai and BP Group Chief Executive Dr. Tony Hayward are present to witness the signing ceremony of the joint venture agreement held on 26 November in Beijing.




    CAS and BP have agreed to jointly invest 500 million yuan ($73million) to establish the Clean Energy Commercialization Centre (CECC). CAS Vice President Prof. LI Jinghai and BP Group Chief Executive Dr. Tony Hayward witnessed the signing ceremony of the CECC joint venture agreement held on 26 November in Beijing

    According to the agreement, the joint venture will be inaugurated early next year in Shanghai. It will draw on the expertise and experience of both partners to integrate individual energy-related technologies -- such as coal gasification and conversion, carbon capture and storage, coal bed methane and underground gasification -- developed by CAS institutes and other organizations both within and outside China, into competitive integrated manufacturing systems and solutions.
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