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]
 | |
| Company type | Private |
|---|---|
| Industry | Energy Industry |
| Founded | 1992 |
| Headquarters | , |
Key people | Chen Yilong (CEO) |
| Products | Renewable fuels |
| Parent | Sunshine Kaidi New Energy Group |
| Subsidiaries | Kaidi Ecological and Environmental Technology Co. Ltd. Alter NRG Corporation Westinghouse Plasma Corporation Sunshine Kaidi (Finland) New Energy Co. Oy |
History
editThe 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
editThe 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
edit- ^ http://www.biodieselmagazine.com/articles/826689/finlands-chinese-owned-synthetic-diesel-plant
- ^ Zhang Yuzhe; Leng Cheng (2018-12-04). "In Depth: Debt-Ridden Biomass Producer Kaidi Sinks Deeper Into the Mire". Caixin. Retrieved 2019-09-11.
- ^ Fran Wang (2019-05-15). "Energy Firm's Troubles Deepen as Bond Listings Suspended". Caixin. Retrieved 2019-09-11.
- ^ "Chen Yilong". Bloomberg Business. Retrieved March 14, 2016.
- ^ Voegele, Erin (2014-11-06). "Rentech closes on sale of alternative energy technologies". Biomass Magazine. Retrieved 2019-09-11.
- ^ Healing, Dan (2015-03-27). "Alter NRG stock rises 150% on $147M Chinese takeover offer". Calgary Herald. Retrieved 2019-09-11.
- ^ "Chinese Biofuel Producer's Debt Crisis Triggers Fears in Finland - Caixin Global".
- ^ "Kaidi Finland" (PDF). Kaidi. February 10, 2016. Retrieved March 4, 2016.