China Energy Recovery Reports More Than 140 MW Energy Generation Capacity Completed and Delivered in 2008
January 20 2009 - 07:00AM
PR Newswire (US)
A record amount of energy generation capacity from captured wasted
energy which would otherwise require burning 309,000 tons of coal a
year to meet energy needs SHANGHAI, China, Jan. 20
/PRNewswire-Asia/ -- China Energy Recovery, Inc. (ISIN:
US16943V2060 - OTC Bulletin Board: CGYV; "CER"), a leader in the
waste heat energy recovery sector of the industrial energy
efficiency industry, announced today that, per estimate, the
company helped complete and deliver the equivalent of roughly 143
MW of energy generation capacity to its clients in 2008. That same
amount of power generation, if provided through traditional
coal-fired power plants, would have required approximately 309,000
tons of coal (coal equivalent) and generated roughly 822,000 tons
of carbon dioxide emission -- one of the major sources for
greenhouse gases and global warming -- a year. Instead, China
Energy Recovery's systems use nothing but waste energy recovered,
capturing and converting what would normally be wasted energy into
useable, efficient energy and saving its customers significant
energy costs. '2008 was undoubtedly China Energy Recovery's most
successful year to date, and we're very pleased with the energy
generation capacity we were able to help our clients achieve from
what would otherwise be wasted energy resources,' stated CER's CEO,
Mr. Qinghuan Wu. CER recognizes that most industrial customers
directly utilize the waste heat energy captured in the form of
steam and return it back into their production processes to achieve
the highest energy utilization efficiency possible, and save on
their costs of energy. The benefit is, therefore, more about energy
efficiency than it is as a replacement source for additional energy
generation. If measured on a cost-per-MW-produced basis against
other 'clean tech' energy generation sources such as wind or solar
energy, the investment costs would be significantly higher than
those for energy recovery systems. Waste energy recovery systems
have even been deemed to be cost-competitive when compared against
large-scale conventional power sources such as coal, fossil fuel
and nuclear power. 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 designing, manufacturing and installing
waste heat energy recovery systems which provide facilities with
greater energy efficiency. The company's primary focus is 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, 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, refining (including methanol refining), etc. 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 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 April 21, 2008. For more
information, please contact: Media Sean Mahoney Tel:
+1-310-867-0670 Email: Investor Relations Jim Blackman Tel:
+1-713-256-0369 Email: DATASOURCE: China Energy Recovery, Inc.
CONTACT: Media, Sean Mahoney at +1-310-867-0670 or ; Investor
Relations, Jim Blackman at +1-713-256-0369 or , both for China
Energy Recovery, Inc. Web site: http://www.chinaenergyrecovery.com/
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