China Energy Recovery Announces the Addition of James Zhao As CTO of Its Operating Affiliate
China Energy Recovery, Inc. (OTCBB:CGYV) (“China Energy Recovery” or “CER”), a leader in the waste-heat recovery sector of the alternative energy industry, today announced that Mr. James Zhao is joining China Energy Recovery to serve as CTO of Shanghai Hai Lu Kun Lun Hi-tech Engineering Co., Ltd., an operating affiliate of CER. The announcement was made by China Energy Recovery’s Chairman and CEO, Mr. Qinghuan Wu.
“We’re very proud to have James Zhao join our management team at such a critical time in the company’s growth,” stated Mr. Wu. “James has worked with our company for many years with installations in facilities all over China, and he’s very familiar with our system technology. In his previous positions he has worked with us closely and has been instrumental and witnessed many of the advancements we’ve made as a company and in our systems. We’re very fortunate that he’ll now be working with us in such a critical role to help us continue to improve our technology and grow our company.”
Before joining China Energy Recovery, Mr. Zhao served as National Sales Manager for Ashland (China) Company Ltd., a leading US specialty chemical company. In this role, Mr. Zhao was responsible for the Sales & Marketing for the unsaturated resin in China as well as the daily operation of the Performance Material Division. During his time with the company, Ashland Performance Material’s business in China grew more than 600%. Prior to that, from 1990 until joining Ashland in October 2005, Mr. Zhao worked as Sales Manager for Monsanto EnvironChem (now MECS, Inc.), a leading US chemical company specializing in sulfuric acid manufacturing equipment and systems, in China. Mr. Zhao successfully sold several projects including the Zhangjiagang 3,000mtpd (metric ton per day) sulfuric acid plant with a built-in heat recovery system with 54MW power generation capacity, which was provided by CER and is the largest of its kind among the sulfuric acid plants in China. Mr. Zhao obtained his Master’s degree in Business Administration from Washington University in the U.S., and his Bachelor of Science Degree in Fine Chemical from the East China University of Chemical and Technology.
What is Waste Heat Energy Recovery?
Industrial facilities and power plants release significant amounts of excess heat into the atmosphere in the form of hot exhaust gases or high-pressure steam. Energy recovery is the process of recovering vast amounts of that wasted energy and converting it into usable electricity, dramatically lowering energy costs. Energy recovery systems are also capable of capturing the majority of carbon emissions and other harmful pollutants that would otherwise be released into the environment. It is estimated that energy recovery systems installed in U.S. industrial facilities could produce up to 20% of U.S. electricity needs without burning any additional fossil fuel, and could help many industries to meet stringent environmental regulations.
About China Energy Recovery, Inc.
CER is an international leader in energy recovery systems, with a primary focus on the Chinese market. CER’s technology captures industrial waste energy to produce low-cost electrical power, enabling industrial manufacturers to reduce their energy costs, shrink their emissions footprint, and generate sellable emissions credits. CER has deployed its systems throughout China and in such international markets as: Egypt, Turkey, Korea, Vietnam and Malaysia. CER focuses on numerous industries in which a rapid payback on invested capital is achieved by its customers, including: chemical, petro-chemicals, refining (including Ethanol refining), coke processing, and the manufacture of paper, cement and steel. CER continues to invest in R&D and plans to build China’s first state-of-the-art energy recovery system research and fabrication facility to allow it to meet the increased demand for its products and services. For more information on CER, please visit: http://www.chinaenergyrecovery.com/s/Home.asp. Information on CER’s website does not comprise a part of this press release.
Forward-Looking Statement Disclaimer
This press release includes “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors that CER believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of CER and may not materialize, including, without limitation, the efficacy and market acceptance of CER’s products and services, and CER’s ability to successfully complete construction of the projects in Malaysia and the Congo and to adapt its energy recovery systems for use in the biofuel industry. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors. Furthermore, CER does not intend (and is not obligated) to update publicly any forward-looking statements, except as required by law. The contents of this release should be considered in conjunction with the warnings and cautionary statements contained in CER’s recent filings with the SEC, including CER’s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 21, 2008.