History

Jiangxi Keyuan Biotech Co., Ltd. (“JXKY” for short), the shareholder of the Company, was incorporated, and started to independently research and develop the production technology of chiral lactic acid.

JXKY and Musashino Institute of Chemistry (one of world major three lactic acid manufacturers) established a Sino-Japanese joint venture of Jiangxi Musashino Biochemical Co., Ltd., starting the industrialization of ten-thousand-ton-level high-purity chiral lactic acid.

Jiujiang Academy of Sciences Biochemical Co., Ltd. was established and started independent research and development of polylactic acid production technology for the entire industrial chain.

Over the eight years of joint venture, the Chinese side, as major operation team, has organized and implemented the design, construction and operation of ten-thousand-ton-level production line, and the product quality has reached internationally leading level, making it become a famous lactic acid brand in China. In order to develop biodegradable materials, the Chinese side quit the joint venture in 2008, and then independently developed lactic acid-PLA industry.

KEYUAN initiated the basic construction of demonstration production line of biomass-lactic acid-PLA.

KEYUAN makes consistent efforts in such core technology fields as non-food biomass saccharification, lactic acid purification, lactide synthesis, PLA synthesis, stereo-complex PLA scale production, and has made important breakthrough, having provided solid technical support for building production line of whole industry chain.

KEYUAN brought in strategic investor to carry out the scale industrialization construction of whole industry chain of biomass-lactic acid-PLA.

The production line for I thousand-ton-level high-performance PLA and its monomers was completed and came online.

Levima Group becomes the major shareholder of the new biological materials of the Academy of Sciences, integrates all forces and accelerates the advancement of industrialization projects.

Levima will increase the capital of the new biological materials of the Academy of Sciences for the first phase of the 30,000 tons/year PLA entire industry chain project.