Angel Yeast is Raising Capital to Expand Production

Angel Yeast expects to raise total funds of no more than RMB 2 billion yuan (USD $310 million), to be used for yeast green production base construction project, green manufacturing project with annual production capacity of 25,000 tons of yeast products, green manufacturing project with annual production capacity of 5,000 tons of new enzyme preparation, and supplementary working capital. In the “14th Five-Year Plan” period, Angel Yeast’s demand for yeast products in various fields and businesses will exceed 500,000 tons. However, in 2020, the company’s total yeast fermentation capacity was 270,000 tons, where still has a big gap with the demand of the 14th Five-Year Plan. Thus, it can be seen that Angel Yeast has a very strong will to expand. (Source: sohu.com)