FeedKind® Aquafeed Project with Calysseo settled in Chongqing

The first commercial-scale new plant in the world fully-funded through the Calysseo (joint-venture between Adisseo and Calysta) to be built in Chongqing’s Changshou district, an important milestone for Feedkind@ project, a great opportunity to develop a major business supplying aquafeed ingredients in Asia with a market size of USD28 billion, representing 70% of world market.

FeedKind® protein is an economical, safe, healthy, nutritious and traceable protein source, which provides innovative solutions for the growth of aquafeed products. The project will be the very first commercialized FeedKind® facility in the world, with its first phase designed capacity up to 20,000 tons expected to put into operation by 2022. Once the first phase project runs successfully, it will be followed by a second phase investment, adding another 80,000ton capacity, which will allow a prompt market penetration with a potentially rapid expansion in Asia market to build a profitable and sizable business opportunity for all parties.

Following the set-up of its joint-venture Calysseo with Calysta, in February 2020 aimed at developing a major business supplying aquafeed ingredients @Feedkind, Adisseo announces that an agreement has been signed with all involved parties allowing to settle the first Calysseo production facility in Chongqing.

On June 30, Adisseo (SH: 600299) announced today the participation of the signing ceremony. This reflects the Company’s commitment to increase its investment in China and pursue aqua feed opportunities in Asia. Despite difficulties resulting from COVID19 pandemic, the project has continuously progressed with support from all parties, thus enabling the successful organization of the signing ceremony convened in the form of cloud meeting attended by representatives from all parties including officials from Chongqing municipal and Changshou District government in Chongqing, representatives from China Bluestar Group in Beijing, from Calysta in US and in Shanghai, from Adisseo in Paris and in Shanghai.

On the ceremony, [Zheng Xiangdong, Deputy Mayor of Chongqing], on behalf of Chongqing government and Changshou Region, extended his warm welcome and sincere gratitude to Bluestar Group, Adisseo and Calysta for choosing Changshou Region as the home of FeedKind production facility. He believes the project’s settlement in Changshou Region will contribute to the transformation and upgrade of natural gas chemical industry in Chongqing and Changshou Region and further reinforce China’s leading position in the biochemistry industry in the world. [Zhao Shiqing, Party Secretary of Changshou District] also expressed that Changshou District is committed to further deepen the reform of "regulation and service", strive to create a market-oriented, law-based and internationalized business environment, and vigorously support the project implementation and future development and operation by relying on the established chemical giant enterprises with a mature industrial ecosystem.

Hao Zhigang, chairman of Bluestar Group and Adisseo, said, “I was delighted to join the investment signing ceremony, which marks another key step for the rollout of Adisseo business diversification strategy as well as its China development strategy. I would like to, on behalf of Adisseo and all our business partners, express our gratitude to Chongqing and Changshou governments, for all the support extended to the project.”

He continued, “Adisseo and Calysta, have very high expectation on the project. It is a major strategic investment for us. Being the controlling shareholder of Adisseo, we will continue to give our strongest support to Calysseo in building the first high-tech, safe and environmentally friendly manufacturing unit for FeedKind® in Chongqing. On the business front, Adisseo is already developing and marketing high-quality feed additives for aquaculture and now is moving into a new dimension with FeedKind®. Today’s announcement brings us another step closer to realizing our ambition and we are delighted by the ambition and support of our partners in this. We believe that project will be successfully completed and put into operation, and will rapidly realize its returns, bring real benefits to consumers and provide more innovation capabilities for the industry.”