Sunshine Kaidi New Energy Group Co. Ltd. (Sunshine Kaidi, former name: Wuhan Kaidi Holding Investment Co., Ltd.) is a Chinese holding company. It is one of the largest bioenergy companies in China.[1] The company is privately owned with the controlling stake belonging to Chen Yilong.[2] Its subsidiary Kaidi Ecological and Environmental Technology Co. Ltd. in which Sunshine Kaidi owns a 29.08% stake, is listed in the Shenzhen stock market, but the trading is suspended.[3]

Sunshine Kaidi New Energy Group Co. Ltd.
Company typePrivate
IndustryEnergy Industry
Founded1992
Headquarters,
Key people
Chen Yilong (CEO)
ProductsRenewable fuels
ParentSunshine Kaidi New Energy Group
SubsidiariesKaidi Ecological and Environmental Technology Co. Ltd.
Alter NRG Corporation
Westinghouse Plasma Corporation
Sunshine Kaidi (Finland) New Energy Co. Oy

History

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The company was formed in 1992.[4]

In 2014, Kaidi acquired biofuel technology and equipment from American company Rentech.[5] In 2015, it acquired Calgary-based plasma gasification company Alter NRG.[6]

Since 2018, the company has become visibly strained by its debt load with its subsidiary Kaidi Ecological and Environmental Technology Co. Ltd. defaulting on a bond.[7]

Markets

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The company is active in 24 Chinese provinces and Vietnam.

The company has had plans to expand to European markets with its main investment being a refinery in Kemi, Finland under its Finnish subsidiary.[8]

References

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  1. ^ http://www.biodieselmagazine.com/articles/826689/finlands-chinese-owned-synthetic-diesel-plant
  2. ^ Zhang Yuzhe; Leng Cheng (2018-12-04). "In Depth: Debt-Ridden Biomass Producer Kaidi Sinks Deeper Into the Mire". Caixin. Retrieved 2019-09-11.
  3. ^ Fran Wang (2019-05-15). "Energy Firm's Troubles Deepen as Bond Listings Suspended". Caixin. Retrieved 2019-09-11.
  4. ^ "Chen Yilong". Bloomberg Business. Retrieved March 14, 2016.
  5. ^ Voegele, Erin (2014-11-06). "Rentech closes on sale of alternative energy technologies". Biomass Magazine. Retrieved 2019-09-11.
  6. ^ Healing, Dan (2015-03-27). "Alter NRG stock rises 150% on $147M Chinese takeover offer". Calgary Herald. Retrieved 2019-09-11.
  7. ^ "Chinese Biofuel Producer's Debt Crisis Triggers Fears in Finland - Caixin Global".
  8. ^ "Kaidi Finland" (PDF). Kaidi. February 10, 2016. Retrieved March 4, 2016.