MELBOURNE, Fla.--()--Parabel Inc. (OTCQB: PABL) and its operating company PA LLC, a global provider of micro-crop technology and solutions that produce new, economical sources of feed, food, and fuel, today announced that it has finalized a restated Master Framework Agreement with CECEP—Chongquing Industry Co., Ltd. (An absolute holding subsidiary of China Energy Conservation and Environment Protection Group) for the implementation of its technology in China as well as around the world, to include the eventual joint completion of ten 5,000-hectare commercial-scale units.
The agreement provides for the construction and operation of a micro-crop scientific research program in Hainan Province, China. After the success of the research program, build-out of ten commercial-scale units of approximately 5,000 hectares will be implemented step by step at locations to be determined around the world.
The agreement is a consequence of long-term planning and close collaboration between Parabel and CECEP, while restructuring and superseding previous agreements. Construction of the bioreactor for the initial phase is complete. Next steps include inoculation, testing and certification.
This collaboration leverages Parabel’s proprietary technology and CECEP’s ability to execute commercial-scale projects with significant environmental value. The company’s solution is based on year-round production operations, without the need for government subsidies.
“We very much value the cooperation with Parabel. Thanks to our joint effort, our cooperation has achieved a very good start. We are both very confident in developing the Parabel technology in mainland China as well as the global market in order to contribute to environmental protection and profit to the shareholders,” said Chairman of the Board for CECEP, Mr. Yu Heping.
Parabel’s product platform will enhance global food and energy security, and directly address deficiencies in critical feed, food and fuel industries. The company’s protein product could qualify as the first major new plant protein source for humans since soy entered the human diet in the 1950s, while third-party tests have confirmed the value of Parabel’s animal feed applications in aquaculture, poultry, swine, and dairy cattle diets. Parabel’s Biocrude is planned as a local feedstock for renewable “drop-in” fuels.
“This is an exciting and unique opportunity,” said Anthony Tiarks, CEO of Parabel. “Not only does this agreement simultaneously accelerate our commercialization process and deepen our relationship with CECEP, but it also envisions the construction of commercial-scale production units outside of mainland China. We look forward to working closely with CECEP to serve critical market needs in China and beyond.”
About Parabel, Inc.
Parabel Inc. (OTCQB:PABL), based in Melbourne, Florida, provides renewable technology and solutions to meet the significant and growing demand for feed, food, and fuel in global markets. The company’s solution is designed to deliver strong economic returns to customer licensees as a consequence of continuous, year-round production operations. Parabel also intends to provide social and environmental benefits, through job creation, community investment, food security promotion, and sustainable production that absorbs atmospheric carbon dioxide without polluting soil or water. For more information about Parabel, please visit our website at http://www.parabel.com.
About CECEP
China Energy Conservation Environmental Protection Group Company is the only state-owned enterprise which is fully sponsored and owned by the central government and engaged mainly in energy conservation and environmental protection. It is the largest scientific and service industrial group in this field in China, with 25 second level subsidiaries, 230 third level subsidiaries and two listed companies, located in more than 20 provinces and abroad in over 30 countries and regions with more than 30,000 employees. CECEP has always focused on the fields of energy saving and environmental protection and is committed to energy conservation and comprehensive utilization of resources and the health of life. CECEP is also committed to clean technology and new energy to create a "complete industrial chain" for energy saving and environmental protection, to provide integrated technology and high-end services for customers in China and international markets. CECEP has the capability of covering the complete industrial chain from planning, design, consulting, construction, equipment manufacturing, investment to operation; to build a support system with a technology platform, financial platform, and industry platform to be the driving force of the enterprises under the Chinese central government in the field of energy saving and environmental protection. CECEP exports products and technologies to more than 60 countries and regions around the world. It has completed hundreds of large and medium-sized projects and is the strategic partner of well-known enterprises of the United States, Japan, Germany, UK, France and other countries. For more information about CECEP, please visit our website at http://www.cecep.cn/g467.aspx.