Tangneng Tech and Greentek Innovation Inc. to Promote PEF

SEATTLE - May 1, 2024 - PRLog -- Zhejiang Tangneng Tech Co., Ltd., a national high-tech enterprise founded with participation from the Ningbo Institute of Materials Technology and Engineering of the Chinese Academy of Sciences, is also the first project at our county's new materials pilot base to successfully complete its pilot phase and achieve industrialization.

"Tangneng Technology and Taiwan's Greentek Innovation Inc. have officially signed a cooperation agreement, representing that in the future, PEF products made from bio-based HMF as raw material will truly be used in the end markets. This time, a sales order for 3000 tons per year has been signed, indicating that bio-based new material PEF will achieve a significant breakthrough in market applications," said Jin Haitao, General Manager of Zhejiang Tangneng Tech. Co., Ltd.

PEF is a 100% recyclable, durable bio-based polymer produced using renewable plant-based raw materials. It can replace PET in food packaging applications and is also suitable for use in electronics, home appliances, automotive, and textile industries. Due to its high environmental safety, especially in the packaging sector, its market prospects are particularly broad. Greentek Innovation Inc(GTI), as a downstream application manufacturer of Tangneng Technology, plays a key role in promoting the application of PEF products to the end market.

"PEF is an excellent raw material, and this material is quickly moving towards mass production. From raw material to finished product, it must reach the customer. In this process, issues such as recycling, natural degradation, and high cost must be addressed. Greentek Innovation Inc. (GTI) has taken the first step by developing a fully bio-based material packaging bottle for storing beer," said Alan Hsu Chairman of Greentek Innovation Inc.

The collaboration between Tangneng Technology and Greentek Innovation Inc. is just the beginning of the 2024 "HMF" Bio-based New Materials Industry Conference. "Taking this opportunity, we might jointly set up a joint venture company to supply the large export volume of 2025," said Alan Hsu. Jin Haitao added, "We aim to grow the business further, for example, by reaching an industrial scale of one hundred thousand or even one million tons in the future, leveraging the geographical advantages of Daishan to establish both upstream and downstream enterprises in Daishan, forming a full industry chain cluster."

GTi Company focuses on developing the world's exclusive patented environmentally friendly products, including environmentally friendly paper bottles, paper toothpaste, ointments, cosmetic hoses, curved paper straws, straight paper straws, and other innovative products. Our Website is http://www.greentekinnov.com

Inkstone Capital has a company, AIMAU, listed on the Nasdaq Global Market led by Inkstone Chairman I-fa Chang and his Taiwanese investor friends. The main funds come from several corporate investment institutions on Wall Street in the United States and business owners in traditional industries. website: http://www.ifachang.com