We are extremely pleased to report an 853% increase in sales to $92.8 million. Not only have we achieved strong year-over-year growth, we but we also achieved strong sequential growth each quarter in 2010. These impressive results clearly illustrate the growing demand for our high-quality, alcohol-based fuels. These fuels are lower cost than petroleum fuels and burn with higher efficiency as well as significantly lower toxic waste emissions due to our proprietary and patented catalysts. Most important, unlike conventional fuel blends that are unable to exceed 15% alcohol content, our fuels can go up to 85% alcohol without any modification to the automobile engine or gas station equipment.
In response to the growing demand for our fuels, we are in the process of building two new production facilities. These facilities are strategically located in the north, within Tieling, and in the south, within Guangxi. These two production facilities will have combined capacity of more than 400,000 tons per year. Once operating at full capacity, we believe these facilities can support close to $200 million per year each, with 10% operating profit margins. We expect the Guangxi facility to commence operations during the first half of 2011, followed by the Tieling facility, which should commence operations by the end of 2011.
American Jianye Greentech Holdings today announced that AJGH has received approval from the XiangZhou government for its application to construct a waste-to-fuel plant to convert municipal solid waste, sewage sludge and construction waste to produce an estimated 200,000 metric tons of environmentally friendly, alcohol-based ethanol fuel per year. In conjunction with the approval, AJGH was allocated 183,333 square meters of industrial land for construction of the plant. AJGH will joint venture with USA-based GeneSyst International, Inc. to construct the waste-to-fuel plant. AJGH notes that the waste-to-fuel plant is expected to be completed by the end of 2012 and commence commercial operations in early 2013 with estimated annual revenue of US$120 million and net income of US$30 million when operating at full capacity.
"We are very excited to partner with GeneSyst International in constructing this state-of-the-art waste-to-fuel plant in XiangZhou. This follows our recent announcement to construct a similar facility in Harbin. This XiangZhou facility will be able to produce nearly twice the ethanol fuel as our Harbin facility and will help to further establish our leadership in this growing market. Moreover, by producing our own ethanol, we can lower the input costs for our blended fuels, which combine ethanol and petroleum fuel, along with our proprietary fuel catalyst. Our blended fuels are gaining widespread acceptance across China, and these waste-to-fuel plants will allow us to meet the growing demand. With the partial completion of our XiangZhou renewable fuel plant in early 2012, we expect to generate additional annual revenue of US$100 million and net income of US$10 million in 2012 alone."
American Jianye Greentech Holdings today announced that AJGH has received approval to undertake a new project in alcohol-based biodiesel fuel production. Specifically, AJGH will self-finance the construction of a new biodiesel plant located in the ShiLong Industrial Park in Xiangzhou, Guangxi Province. The Xiangzhou County National Land and Resources Bureau has allocated 10,000 square meters of land in Zone C of the park to American Jianye specifically for the purpose of constructing the new plant.
"This approval is another significant acknowledgment and recognition of the technical breakthrough accomplished by our proprietary alcohol-fuel catalyst. With the completion of this new alcohol-based biodiesel plant, estimated for completion by year-end 2011, we will further expand our revenue by venturing into the biodiesel market segment. We anticipate that the new plant will generate additional estimated annual revenue of US$200 million and net income of US$16 million to be realized beginning in 2012."