China Energy Recovery Announces Start of Operations of a Key EPC Project with Built-in Waste Heat Recovery System Resulting in 3
January 13 2009 - 7:00AM
PR Newswire (US)
SHANGHAI, China, Jan. 13 /PRNewswire-Asia/ -- China Energy
Recovery, Inc. (OTC Bulletin Board: CGYV; "CER"), a leader in the
waste heat energy recovery sector of the industrial energy
efficiency industry, announced today that a new sulfuric acid plant
(the "Plant") that CER built under the EPC (Engineering,
Procurement and Construction) model (the "Project") for Hunan
Yongli Chemical ("Yongli") was commissioned and has been operating
successfully since December 28, 2008. Yongli, located in Hunan
province, China, is a key chemical subsidiary of China National
Salt Industry Corporation, the largest salt company in Asia. The
Project demonstrates that CER has successfully established a strong
presence in the EPC market in recent years. The Plant is designed
to produce 200,000 tons of sulfuric acid a year and generate 30
tons of steam per hour from waste heat energy captured during
production. The steam will partly be used to generate electricity
with 3MW power generation capacity and the rest will be returned
back into the production process and utilized directly. The
utilization of the remaining steam can be translated into another
3MW power generation capacity. This EPC project has enabled Yongli
to execute its strategy to expand production capacity while
improving energy efficiency and meeting environmental requirements.
The new plant is expected to achieve an annual savings of roughly
13,000 tons of coal (coal equivalent), which would otherwise be
required to produce the same amount of power, and the reduction of
roughly 34,000 tons of carbon dioxide emission each year. The
successful startup of operations is also a good recognition of
CER's strong engineering capability to carry out EPC projects for
new chemical plants and integrate energy recovery technology into
the plants so as to help the industrial customers improve energy
efficiency and reduce pollution. At the Startup Ceremony, Mr.
Zhenrong Lu, the General Manager of Yongli, praised CER for making
the Project a success, which has laid a solid foundation for future
business opportunities between the two companies. 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, Turkey, Korea,
Vietnam and Malaysia. 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
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, +1-310-867-0670 or ; Investor
Relations, Jim Blackman, +1-713-256-0369 or Web site:
http://www.chinaenergyrecovery.com/
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