China Energy Recovery Announces Establishing a New Operating & R&D Subsidiary in China to Facilitate Expansion
(OTC Bulletin Board: CGYV) (“CER”), a leader in the waste heat energy recovery
sector of the alternative energy industry, announced today that the company
has established a new subsidiary, CER Energy Recovery (
(“CER Shanghai”), as one of its strategic initiatives to expand its operations
to meet the market demands from both
as a new operating subsidiary and the R&D center of CER in
strategically established in Shanghai Zhangjiang Hi-tech Park (“Zhangjiang” or
“Park”).
Zhangjiang is a key national-level hi-tech zone in
the Shanghai Municipal Government in 1992 and is located in the Pudong New
Area of
established important national level industry R&D bases for information
technology, bio-tech, integrated circuits, etc. The Park includes some of the
world’s leading companies such as GE, AMD, SAP, Dupont, Dow Chemical, Novartis
and other multinational corporations having established their R&D centers
there. Zhangjiang is now taking an initiative to expand into clean technology
and the alternative energy sectors. With this new initiative, Zhangjiang
invited CER to be one of the very first clean tech/alternative energy
companies to establish a presence and operate in the Park and they will
continue to provide the most preferential government policies and services
available to facilitate CER’s future growth.
“It’s our great honor to be invited as one of the first clean technology
companies to establish operations in Zhangjiang,” stated CER Chairman of the
Board and CEO, Mr. Qinghuan Wu. “With CER’s primary focus at this time on
increasing production capacity and developing technology to achieve more
efficiency in capturing waste energy, we feel our business will proudly
represent
new industries will also allow us to adapt and improve our technology to
better satisfy the needs of the broadening base of our customers.”
What is Waste Heat Energy Recovery?
Industrial facilities 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 heat energy or electricity, dramatically lowering
energy costs. Energy recovery systems are also capable of capturing harmful
pollutants that would otherwise be released into the environment. It is
estimated that if energy currently wasted by all the U.S. industrial
facilities could be recovered, it could produce power equivalent to 20% of U.S.
electricity generation capacity 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
in such international markets as
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
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 CER 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 orders and collect revenues therefrom. 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 filings with the SEC, including CER’s Current Report on
Form 8-K filed with the Securities and Exchange Commission on
For more information, please contact:
Media
Sean Mahoney
Phone: +1-310-867-0670
Email: seamah@gmail.com
Investor Relations
Jim Blackman
Phone: +1-713-256-0369
Email: jim@prfmonline.com
SOURCE China Energy Recovery, Inc.