DES MOINES, Iowa – Smithfield Foods Inc. has signed on to set up a biogas project with Chinese egg producer Beijing DQY Agriculture Technology, according to a report from Bloomberg.
The project will produce 3.5 million cubic meters of methane annually with a power generating capacity of 1 megawatt. According to news reports the companies plan to invest $1.8 million in the joint venture.
The agreement was signed during the US-China Agricultural Symposium held in Des Moines. The symposium is a forum to strengthen cooperation between the US and China in the areas of food safety, food security and sustainable agriculture.