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Huayang New Materials’ 60,000-ton PBAT project achieves successful trial production Author/Source: Coal Chemical Industry Information Network Date: 2023-04-24 Clicks: 7 On April 19, Huayang New Materials Technology Group Co., Ltd. announced that its biodegradable new materials company had successfully produced PBAT masterbatches, marking a partial success in the trial production phase of the project aimed at producing 60,000 tons of PBAT per year. Next, the biodegradable new materials company will focus on the condition of the equipment, increase its operating load, and ensure that the PBAT production facilities operate in a stable, efficient, and optimal manner. Project overview: On August 10, 2021, the 60,000-ton/year PBAT biodegradable new materials facility and the 20,000-ton/year biodegradable plastic products facility of Shanxi Huayang New Materials Co., Ltd. were inaugurated in the Longchuan Industrial Park of Pingding Economic and Technological Development Zone in Yangquan City. The project utilizes proprietary patented technology from CAS Qike Cheng Company, with an investment of 400 million yuan. On May 11, 2022, the Shanxi Provincial Department of Ecology and Environment issued the \"Approval on the Environmental Impact Report for the 60,000-ton/year PBAT production project of Shanxi Huayang Biodegradable New Materials Co., Ltd.\" Project Name: 60,000 tons per year PBAT project for new materials by Shanxi Huayang Biodegradable New Materials Co., Ltd. Location: Within the site of the second phase of the ethylene glycol project carried out by Huayang Group (Shanxi) Fiber New Materials Co., Ltd., in the Modern Chemicals and New Materials Zone of Pingding County Economic and Technological Development Zone, Yangquan City. Construction contents: The main project involves the construction of a PBAT production line with an annual output of 60,000 tons, including key systems such as the slurry preparation system, esterification system, process tower system, polycondensation system, granulation system, and **furan recovery system. Additionally, supporting storage and transportation facilities, auxiliary systems, and related infrastructure will be installed. Project investment: The total investment amounts to 406.21 million yuan, of which approximately 4.58 million yuan is allocated to environmental protection measures. On the evening of February 28, 2023, Shanxi Huayang New Materials Co., Ltd. (referred to as “Huayang New Materials”) announced that it had recently received a notice from the Shanghai Stock Exchange stating that the application submitted by the company for issuing securities as a listed company on the main board of the Shanghai Stock Exchange had been accepted. The Shanghai Stock Exchange examined the prospectus for the issuance of securities as well as the related application documents submitted by the company, determined that these documents were complete and in compliance with legal requirements, and decided to accept the application and proceed with its review in accordance with the law. According to the latest plan for the private placement, Huayang New Materials will issue shares to no more than 35 specific investors who meet the requirements set by the China Securities Regulatory Commission. The number of shares to be issued will not exceed 100 million, and the total amount of funds raised will not exceed 550 million yuan. After deducting the issuance costs, the funds raised are intended to be used for building a PBAT production facility with an annual capacity of 60,000 tons, a facility for producing biodegradable modified materials and plastic products with an annual capacity of 20,000 tons, and a facility for producing a full range of biodegradable new materials with an annual capacity of 20,000 tons. PBAT is one of the main raw materials for biodegradable plastics at present, and it has broad market prospects. Upon completion of the project, Huayang Group will become the largest producer of biodegradable raw materials and finished plastic products in North China. Next, Huayang Group will also plan to build an integrated industrial park covering the entire upstream and downstream value chain with an annual production capacity of over 500,000 tons, aiming to become the largest production base for biodegradable materials in the country. Shanxi Huayang Biodegradable New Materials Co., Ltd. (referred to as “Huayang New Materials”) was formerly Taihua Co., Ltd., which went public in 2000. Its controlling shareholder is Taihua Group; it was previously under the management of Yuanyang Coal Group. With the establishment of Huayang Group, the flagship new materials enterprise under Shanxi Province, Taihua Co., Ltd. was designated as the platform for integrating and listing the new materials business assets of Huayang Group, and it was renamed to its current name, Huayang New Materials. Thereafter, to support the listed company in accelerating its transformation, Huayang Group first prompted Huayang New Materials to acquire key new material assets under the group, such as aerogels and graphene. In August 2021, the group handed over the core project for its entry into biodegradable plastics – a 60,000-ton/year PBAT biodegradable new material production facility and a 20,000-ton/year biodegradable plastic products manufacturing plant – to Huayang New Materials to take charge of its development.