Gushan Environmental Energy
| Company type | Public (formerly) |
|---|---|
| Industry | Biodiesel production |
| Founded | January 1, 2001 in Mianyang, China |
| Headquarters | Mianyang , China |
| Products | Biodiesel, glycerol, plant asphalt, erucic acid, erucic amide, stearic acid |
Gushan Environmental Energy Limited (), founded on May 16, 2006, operates as a biodiesel manufacturer in China with five production plants located in Beijing, Shanghai, Mianyang (Sichuan), Handan (Hebei), and Fuzhou (Fujian). The enterprise specializes in producing biodiesel alongside related products such as glycerol, plant asphalt, erucic acid, and erucic amide. Their biodiesel, a sustainable and biodegradable fuel made primarily from locally sourced vegetable oil waste and used cooking oils, powers diesel engines in trucks, public transportation vehicles, marine crafts, and generators.
The company’s secondary products serve diverse industrial sectors including food processing, pharmaceuticals, manufacturing, and personal care. For instance, glycerol is utilized as both a lubricant and preservative; plant asphalt finds use as boiler fuel and casting material; erucic acid is incorporated into lubricants, polyester production, and health-related goods; erucic amide acts as an anti-static compound; while stearic acid is applied within plastics and cosmetic formulations. Gushan markets its offerings directly to marine operators, petroleum distributors, and retail fuel stations throughout China.
Within the industry, Gushan competes with firms such as China Biodiesel International Holdings, East River Energy Resources, Sinopec, Cnooc, and PetroChina.
Corporate governance
The board of directors is composed of five individuals, including three independent members. In 2009, the board featured Jianqiu Yu (chief executive officer), Deyu Chen, Kang Nam Chu, Dongming Zhang, and Denny Lee.
Biodiesel
From 2004 to November 2007, the company expanded its annual biodiesel output capacity from 40,000 tons to 190,000 tons. In 2006 alone, production and sales reached 158,994 tons; by September 2007, these figures were at 136,587 tons.
Future production capacity
Gushan planned to raise its yearly biodiesel manufacturing capability to 400,000 tons by the conclusion of 2008. This growth was anticipated to result from new facilities being established in Hunan and Chongqing along with an expansion of the Beijing plant.
History
- 2001: Sichuan Gushan was founded in Mianyang with an initial biodiesel capacity of 10,000 tons.
- 2003: Handan Gushan set up operations in Hebei; launched a 30,000-ton production line that became operational in 2004.
- 2004: Achieved ISO9001:2000 quality certification; added another 30,000-ton line at the Sichuan site increasing capacity to 40,000 tons.
- 2005: Fujian Gushan was created in Fuzhou; constructed a facility capable of producing 100,000 tons starting production in 2006.
- 2006: Established subsidiaries Shanghai Gushan and Beijing Gushan.
- 2007: Expanded the Sichuan facility with an additional 20,000-ton line raising total capacity to 60,000 tons.
- December 19, 2007: Successfully completed an initial public offering of 18 million American Depositary Shares (ADSs) on the NYSE under the ticker "GU."
- January 24, 2008: Added a new production line with a capacity of 50,000 tons at the Beijing plant increasing total output to 240,000 tons.
- February 19, 2008: Secured land use rights in Chongqing and Hunan for constructing new biodiesel manufacturing plants aimed at expanding capacity.
- October 17, 2012: Finalized privatization process; ADS trading on the NYSE was suspended.