NF Energy Saving Corporation Dramatically Expands General Electric Alliance with Four Additional Energy Saving BOT Projects
December 15 2009 - 8:30AM
PR Newswire (US)
-- Four energy saving BOT projects expected to generate annual US
GAAP revenue in excess of $10 million SHENYANG, China, Dec. 15
/PRNewswire-Asia/ -- NF Energy Saving Corporation (OTC Bulletin
Board: NFEC; "NF Energy"), a Chinese leader in providing integrated
energy conservation solutions, today announced it has expanded its
cooperation agreement with GE to include four energy saving (Build
Operate Transfer) BOT projects based on the Strategic Cooperation
Agreement signed in July 2009. Upon completion, the four energy
saving BOT projects are expected to generate annual US GAAP revenue
in excess of $10 million. The four energy saving BOT projects
include: -- A blast-furnace gas power generation project for a
large iron and steel group, of which, the annual production
capacity is 8 million tons of steel; -- A cow manure power
generation project; -- A chicken manure power generation project;
-- A pig manure power generation project. GE will provide advanced
technology as well as supply power generation equipment to NF
Energy. The total investment of the projects is approximately $16.2
million. The construction period is expected to last six months and
operation period will be between 8-20 years. Mr. Li Gang, Chairman
and CEO of NF Energy, commented, "We believe expanding our
relationship with GE on energy saving projects in China further
highlights the value of our product and service offerings.
Additionally, these projects will not only generate significant
economic returns, but also result in improved environmental
benefits." About NF Energy Saving Corporation Website:
http://www.nfenergy.com/ NF Energy Saving Corporation (OTCBB: NFEC)
is a China-based provider of integrated energy conservation
solutions utilizing energy-saving equipment, technical services and
energy management re-engineering project operations to provide
energy saving services to clients. The current revenues are
primarily from its energy saving flow control products.
Headquartered in Shenyang city of China, the Company currently has
220 employees and several proprietary energy saving technologies
and patents. Safe Harbor Statement This press release contains
certain statements that may include 'forward-looking statements' as
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes, expects, anticipate,
optimistic, intend, will" or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's periodic reports that are filed with and
available from the Securities and Exchange Commission. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements. For more information, please contact: Howard Gostfrand
American Capital Ventures Tel: +1-305-918-7000 Email: Web:
http://www.amcapventures.com/ DATASOURCE: NF Energy Saving
Corporation CONTACT: Howard Gostfrand of American Capital Ventures,
+1-305-918-7000, or Web site: http://www.nfenergy.com/
http://www.amcapventures.com/
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