嘉泽新能拟投12.01亿元建设鸡西10万吨生物质可持续航空燃料（SAF）项目Jiaze Xineng plans to invest 1.201 billion yuan to build a 100,000-ton sustainable aviation fuel (SAF) project in Jixi.

On October 31, Jiaze New Energy Co., Ltd. announced that its subsidiary, Heilongjiang Jiarun Pengyuan Green Sustainable Fuel Co., Ltd., intends to invest in the construction of a 100,000-ton biomass green sustainable aviation fuel (SAF) production project in Jixi City, Heilongjiang Province. The planned total investment is 1,201.366 million yuan, with the final amount subject to the actual investment in the project construction. The company will invest funds in stages and batches according to the progress of the project.

The announcement shows that on October 29, 2026, the company held the seventh meeting of the fourth board of directors and reviewed and approved the "Proposal on the Investment and Construction of a 100,000-ton Biomass Green Sustainable Aviation Fuel (SAF) Production Project in Jixi City, Heilongjiang Province by a Subsidiary." This matter does not require approval by the company's shareholders' meeting. To meet the company's production, operation, and development strategy needs, the company's controlling subsidiary Shanghai Jiayi Rongyuan Energy Chemical Co., Ltd., and the project construction unit, Shanghai Jiayi Rongyuan's wholly-owned subsidiary Heilongjiang Jiarun Pengyuan, have respectively signed project investment contracts with the People's Government of Jixi City and the People's Government of Jidong County. Heilongjiang Jiarun Pengyuan plans to raise funds through self-financing and financing from financial institutions to invest in the construction of the above SAF project. The above matter does not constitute a related-party transaction or a major asset restructuring.

From the perspective of the basic situation of the investment target, this project uses non-grain biomass ethanol and green methanol as raw materials, with the main production and output products being sustainable aviation fuel (SAF), mixed C4, mixed C6, mixed C8, mixed C12, renewable diesel (HVO), etc. The construction site is located in Jidong County, Jixi City, Heilongjiang Province, and the construction unit is Heilongjiang Jiarun Pengyuan, a subsidiary of the company. The project has currently completed the preliminary feasibility study, and the feasibility study report has been filed for the project with the relevant local authorities. Preparatory work for the project is currently underway, and subsequent implementation will be carried out gradually according to the construction plan.

According to the project investment contract, Party A shall be responsible for coordinating the relevant departments at this level to complete the approvals, authorizations, and filings within the authority of the competent departments at this level, including but not limited to planning, land use, energy assessment, environmental impact assessment, safety assessment, fire protection, soil and water conservation, social stability, geological disaster, overlaying mineral, construction permits, acceptance, industrial product production permits, work safety permits, and hazardous chemicals business permits. Party A shall also provide one-stop services, green channels, and other supportive measures to shorten approval times, ensuring that all construction approval procedures required before the start of the project are completed by December 31, 2026, and that the conditions for the commencement of the project are met by April 1, 2027.

Regarding the impact of the project on the listed company, the announcement stated that this project investment actively responds to the national dual-carbon strategy, in line with the company's development strategy. As the company's second green chemical project aimed at connecting the renewable energy industry chain, expanding application scenarios, and creating new performance growth points, the project's construction not only marks a key step for the company in the green chemical field but will also help accelerate the overall layout and development of the company's green chemical business segment. The investment in this project has no impact on the company's current profits and losses; if the project reaches production as planned, it is expected to have a positive impact on the development of the company's green chemical business segment and the improvement of operational performance over a long period in the future.

The announcement also issued a risk warning: due to factors such as macroeconomic conditions, industry policies, and changes in the market environment, the project may face uncertainties such as delays, changes, suspension, termination, or failure to achieve expected returns; as the investment amount for this project is relatively large, any financial constraints may affect the investment amount and implementation progress of the project.

[Source: Securities Daily]

[Editor: Xiao Neng]