SHANGHAI, April 8 /PRNewswire-Asia/ -- China Energy Recovery, Inc. (OTC:CGYV) (BULLETIN BOARD: CGYV) (ISIN: US16943V2060; "CER"), a leader in the waste heat energy recovery sector of the industrial energy efficiency industry, today announced that the Company has released 1,779,180 shares of common stock which have been issued and outstanding since April 15, 2008 and were immediately deposited into the escrow account at the closing of the Share Exchange and the Series A Financing on April 15, 2008 back to the founding management shareholders. These shares originally belonged to the founding management shareholders. This share release is the result of CER's outperforming the financial targets agreed upon between the founding management shareholders and the investors of the Company's Series A Financing closed on April 15, 2008. CER has well exceeded the 2008 financial targets for annual revenue of RMB 150 million (approximately $21.6 million) and gross profit of RMB 30 million (approximately $4.3 million) with actual annual revenue of RMB 160.8 million (approximately $23.2 million) and gross profit of RMB 35.2 million (approximately $5.1 million). The US dollar values are converted based on the annual average exchange rate in 2008. CER exceeded the revenue target by 7% and the gross profit target by 17%, respectively. The targets were set and agreed upon by the Series A investors in January 2008. During the fiscal year ended December 31, 2008, CER's annual revenue grew by 96%, its gross profit increased by 138%, and its net income rose by 73%, year over year. For more details, please refer to CER's Current Report on Form 8-K for the matter filed with the Securities and Exchange Commission on April 6, 2009. 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, 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 (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 Securities and Exchange Commission, including CER's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2009. 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 Web site: http://www.chinaenergyrecovery.com/s/Home.asp

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