LISHUI, China, Nov. 14,
2022 /PRNewswire/ -- CN Energy Group. Inc. (NASDAQ:
CNEY) today announced that its wholly-owned subsidiary, Zhejiang CN
Energy New Material Co., Ltd. has recently been awarded an official
permit to sell its wood-based activated carbon products directly to
domestic drinking water markets, after satisfying all increasingly
more stringent requirements on safety and environmental protection.
This is a significant milestone for CNEY to expand its business
networks, reinforce its competitive strength and enhance its
revenue sources. With such a permit, CNEY can now provide
high-quality customized products and services under its own brand
names to the vast majority of end-users, with remarkable
improvements in reliability, sustainability and responsiveness,
while avoiding "deadweight losses" caused by multilevel
intermediaries. This supply-chain streamlining will not only
generate tangible economic and ecologic benefits for general
societies but will also deliver more decent returns to its
According to the World Bank, accessing to sufficient and safe
drinking water is a fundamental social infrastructure and thus
requires large-scale investments over decades to secure basic
public health and sanitation conditions, especially in populous
countries like China and during
challenging times of fighting against pandemics and climate change.
With rapid urbanization and income growth, the demand for treated
drinking water in China has
already been gigantic (valued at around US$70 billion currently per year) and will
continue to grow at a fast pace in the foreseeable future.
CNEY's activated carbon products, completely made from forest
wastes and agricultural residues, can be effectively utilized in a
wide spectrum of industrial and residential applications, ranging
from soil improvement, sewage treatment, water purification, odor
absorption to impurity removal. They are indispensable in food,
beverage, pharmaceutical and chemical industries. It is
evident that, with its outstanding R&D capabilities and newly
renovated manufacturing facilities, CNEY stands strategically ready
to capture these enormous market opportunities in both urban and
rural areas and to launch global sales campaigns.
With deep gratitude to all relevant stakeholders, Dr. Kangbin
Zheng, CNEY's CEO, pointed out: "Being authorized to sell our
products without unnecessary middlemen will surely bring us closer
to our clients and enable us to respond to market dynamics more
promptly and flexibly. Practical fruits to be harvested immediately
include swift expansion of our clientele, apparent solidification
of custom satisfaction, sizable reduction of marketing expenses and
substantial acceleration of cash flows. These factors will
ultimately contribute to raising our bottom-lines in productivity
and profitability and to further fostering our leadership position
in the industry as one of reputable high-tech
About CN Energy Group. Inc.
CN Energy Group. Inc. is currently listed on NASDAQ under the
symbol of CNEY. With patented proprietary bioengineering and
physiochemical technologies, CNEY has pioneered and specialized in
producing high-quality recyclable activated carbon and renewable
energy from abandoned forest and agricultural residues, converting
harmful wastes into invaluable wealth and delivering significant
financial, economic, environmental and ecologic benefits.
CENY's products and services have been widely used by food and
beverage producers, industrial and pharmaceutical manufacturers, as
well as environmental protection enterprises. For more information,
please visit the Company's website at https://ir.cneny.com/.
Certain statements, other than statements of historical facts,
made in this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties, including the further spread of the COVID-19 virus
or new variants thereof, or the occurrence of another wave of cases
and the impact it may have on the Company's operations and the
demand for the Company's products, and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
conditions, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
refer to its filings with SEC, including without limitation,
Company's registration statements and other filings with the SEC
that set forth certain risks and uncertainties that may have an
impact on future results and directions of the Company.
SOURCE CN Energy Group. Inc.