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CER Wins $10 Million Waste Heat Recovery System Installation Contract from Wuxi Greenapple

July 1, 2010

SHANGHAI, July 1 /PRNewswire-Asia/ — China Energy Recovery, Inc. (Pink
Sheets: CGYV) (“CER”), which designs, manufactures and installs waste heat
energy recovery systems, today announced it entered into an agreement with a
new customer, Wuxi Greenapple Chemical Industry Co., Ltd., to install a waste
heat recovery system into that company’s new sulfuric acid plant located in
Zhenjiang City, Jiangsu Province. The system is anticipated to be completed in
the first half of 2011 and represents an approximate gross value of $10
million
(US) to CER.

Wuxi Greenapple, one of China’s top chemical manufacturing enterprises,
produces a variety of basic chemicals. The company’s new sulfuric acid plant
is rated to produce 1,800 metric tons of sulfuric acid per day. CER’s waste
heat recovery system for the plant has a design capacity to produce 91 metric
tons of saturated steam per hour at 5.4 MPa at 485 degrees Celsius and 38.99
metric tons of High Recovery System steam per hour at 1.0 MPa at 186 degrees
Celsius.

“We are pleased to have Wuxi Greenapple as a new customer and we look
forward to assisting them in their effort to reduce energy consumption and
costs at their new plant,” CER Chairman and Chief Executive Officer Qinghuan
Wu said. “This new relationship reinforces our vision of providing a low-cost,
environmentally friendly energy recovery solution for heavy industry.

“Industrial manufacturers are becoming more aware of our strength in
engineering and design and the capability of our systems to reliably deliver
real savings. This is our third major contract win this month and we
anticipate continued success with more significant contract wins ahead this
year from customers in China and overseas,” Mr. Wu said.

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 as much as two-thirds of that wasted
energy and converting it into usable heat energy or electricity, dramatically
lowering energy costs. Energy recovery systems are also capable of lowering
heat pollution and 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 engineering and manufacturing company that
specializes in the design, construction and installation of waste heat energy
recovery systems that provide industrial facilities to achieve greater
operating energy efficiencies. The company’s primary focus is 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, Korea, Vietnam and Malaysia. CER focuses on
numerous industries in which a rapid payback on invested capital is achieved
by its customers, including: chemical, paper manufacturing, and refining
(including methanol refining). 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 increasing 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, CER’s ability to execute
on its business plan and strategies 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 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 Securities and
Exchange Commission, including CER’s Annual Report on Form 10-K filed with the
Securities and Exchange Commission on March 30, 2009.

    Contact:

     Adam Friedman
     Adam Friedman Associates
     Tel:   +1-212-918-2529 x18
     Email: adam@adam-friedman.com

     Jessica Hu
     China Energy Recovery
     Tel:   +86-21-5556-0020 x503
     Email: hudie@cerenergy.com

SOURCE China Energy Recovery, Inc.


Source: newswire



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