CREG Smart Power Corporation

China Recycling Energy Corporation (NASDAQ: CREG) ("CREG" or "the Company"), an industrial waste-to-energy solution provider in China, today announced that Mr. Guohua Ku, the Chairman & CEO, Mr. Jackie Shi, the Vice President & CFO and Mr. Jiangang Guo, the Technical Director at CREG, will participate the 2020 China International Energy Storage Conference (“CIES Conference”) in Shenzhen China from September 24th to 26th, 2020.

The upcoming CIES conference is the 10th annual event after its success in the past 9 consecutive years. Organized by China Industrial Association of Power Sources (“CISPS”) the largest professional energy storage association in China, more than 1,000 conference attendees and 200 research focused universities and institutions, manufacturers, and system and solution providers in energy storage sector will participate the biggest energy storage industry event. The conference will feature over 130 seminars with various hot topics and new trends by industry experts.

In addition, the Company’s management also attended the following industry conferences in this August:

• 2020 Alternative Energy and Power Roundtable and Wind and Solar Energy Storage Innovation Forum on August 20, 2020 in Beijing.
• 2020 International Energy Storage Summit organized by China Academy of Science on August 26, 2020.

About China Recycling Energy Corp.

China Recycling Energy Corporation (Nasdaq: CREG) ("CREG" or "the Company") is based in Xi'an, China and provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution. Currently, recycled energy represents only an estimated 1 percent of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand. The management and engineering teams have over 20 years of experience in industrial energy recovery in China.

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of CREG and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. 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, but not limited to, the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions relating to the registered direct offering and those discussed in the Company's annual and periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. 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.

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