This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Clean Power Concepts And China Based Chongqing Grain Group Co., Ltd. Create Joint Venture For Creation Of New Canola Crush Plant Operation For Western Canada

SASKATCHEWAN, Canada, Jan. 28, 2011 /PRNewswire/ -- Clean Power Concepts Inc. (OTC Bulletin Board: CPOW) and its subsidiary General Bio Energy Inc., announced today that it has signed a Memorandum of Understanding ("MOU") with the Chongqing Grain Group Co., Ltd. ("CGG") of China.  

The MOU creates a new Joint Venture ("JV") that has as the stated objective to explore the feasibility of jointly building and managing a 600,000 metric ton (MT) food canola crush plant located in Western Canada.

CGG agrees to commit to purchase all oil output/off-take of the JV.  CPOW will purchase all meal output/off-take of the Joint Venture.  CPOW will secure required input seed from western Canadian producers by contracting with producers to provide the input required for the Joint Venture.  The JV has agreed to appoint CPOW as the Manager, with responsibility for the design and construction of the crush plant.  The plant will be constructed in compliance with Canadian legal, environmental and safety rules, regulations and statutory requirements.  The signatories to the MOU were Mr. Shenher, CEO of Clean Power and Mr. Hu, Secretary of the Party Committee and President of Chongqing Grain Group Co., Ltd.  The final structure of the JV has not yet been determined, but CGG will be the majority owner.

Mr. Shenher commented, "Our partners in China have immediate demand for the planned capacity of the new Canola plant.  The site while not yet selected will be situated close to railway transportation transit points available in Western Canada to ensure logistical efficiency.  We are excited about the demand existing in China for canola oil and world wide for off-take canola meal.  We look forward to a long successful future with our partners in China as we work to fulfill their demand."

The Chongqing Grain Group Co., Ltd. is located in Chong Qing, municipality in China.  The Group owns 51 subsidiaries and has 21,507 employees. Total assets of the Group have reached 6.1 Billion Yuan Renminbi ('RMB'), or approximately US$920 million.

Clean Power Concepts and its subsidiary General Bio Energy are producers of Canola Oil, Canola Feed Meal, eco-lubricants, and nutraceuticals.  The Company manufactures and markets products under CLEAN POWER CONCEPTS ®, MOPO ®, for more information


Safe Harbor Statement

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs