LISHUI, China, May 17, 2023
/PRNewswire/ -- CN Energy Group. Inc. (NASDAQ: CNEY) ("CNEY" or the
"Company") today announced that its wholly-owned subsidiary,
Greater Khingan Range Forasen Energy Technology Co., Ltd. Tahe
Biopower Plant ("Tahe Biopower Plant"), has recently received a
renewed business license with authorization to process and sell
timber products. The license will be mostly used by the Tahe
Biopower Plant located at the Greater Khingan Range in Northeast China.
The Company regards the renewed license as a milestone, as it
enables the Company to collect and process forest residuals and
wood wastes more effectively and efficiently, while leveraging its
proprietary technologies to create higher value-add in a seamlessly
integrated process. For instance, round logs with a diameter
greater than 12 centimeters can be used to manufacture wood boards,
while tree branches and twigs with a diameter less than 12
centimeters, as well as sawdust, can be processed for the
production of activated carbon and biochar products and for
gasification to generate clean and renewable electricity. These
practices are expected to enhance resource utilization, facilitate
environmental protection, and prevent forest fires.
Ms. Xinyang Wang, CNEY's Board
Chairperson, commented, "This renewed license will enable us
to better integrate and solidify our supply chain, while supporting
our dedication toward sustainability. We expect the renewal of this
license will alleviate a bottleneck on raw material collection and
may expand our revenue sources. We also anticipate benefiting from
access to a more secure and reliable supply of products, which we
anticipate will lower costs on the input side and improve product
quality and permit more competitive prices on the output side.
Furthermore, our success in the Greater Khingan Range may be
quickly replicated to our Yunnan Forest Base and other locations to
strengthen CNEY's overall performance and profitability."
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.
CNEY'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 www.cneny.com.
Forward-Looking Statements
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 the U.S. Securities and Exchange
Commission (the "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.
Investor Relations Contact:
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
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SOURCE CN Energy Group. Inc.