Sino Bioenergy Signs 10-Year Sales Contract
March 04 2013 - 8:25AM
Sino Bioenergy Corp. (OTC Pink:SFBE) (Borse Berlin:3SF) today
announced the signing of a 10 year sales contract to supply rice
super seeds.
Our 55% owned subsidiary, Huizhou Shi Ji Wu Feng Agricultural
Biotechnology Co. Ltd., ("HB") has signed an agreement to supply
Jiangxi Jingcai Nonglin Science and Technology Co., Ltd. ("JJN")
with our super rice seeds. The contract includes consulting and
technical guidance as well as providing promotional materials to
JJN. The contract is expected to generate US$1.46 million in sales
for 2013 increasing to US$14.6 million in 2014 and a projected
US$43 million by 2015.
Our super rice seeds are disease resistant, high yielding
genetically improved rice with the transgenic rice grain length
increased by 25% over normal rice. It produces lower chalky rice
with a 23% weigh gain and 10% grain number increase. The super
seeds are produced in our laboratories at HB.
Daniel McKinney, CEO said, "This 10 year contract to supply our
rice super seeds is a significant step for the company in executing
our business plan. We have now developed three main businesses in
SFBE":
1. Supplying biomass factories to municipal
governments
(USD 40 to 300 million per
Biomass factory)
2. Supplying biomass factories to produce green electricity and
organic fertilizer
(USD 25 to 100 million per plant)
3. Supplying super rice seeds.
McKinney concluded, "This is an excellent Q1 start for our
business in 2013."
SFBE is currently in negotiations to supply a biomass factory to
the Palm Oil industry in Philippines to generate electricity and
produce organic fertilizer.
SFBE is current in its reporting on the OTC Alternative
Reporting Standard.
About Sino Bioenergy Corp.
Established in May 2005, Sino Bioenergy Corp. is a Nevada
Corporation that trades on the OTC Pink (symbol: SFBE) and Bourse
Berlin Exchange (symbol: 3SF). Please see our websites at:
www.sinobioenergy.com. Total shares outstanding: 711,915,750 as of
March 5, 2013.
The Sino Bioenergy Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4102
This press release contains forward-looking statements based on
management's expectations and beliefs, and may involve known and
unknown risks and uncertainties and other factors that may cause
the actual results to be materially different from the results
implied herein. Readers are cautioned not to place undue reliance
on the forward-looking statements made in this press release.
CONTACT: Investor Relations:
Dennis Burns
Tel: 567-237-4132
nvestrain@gmail.com