China Power Equipment to Co-Host Rural Power Grid Development Conference

XI'AN, China, April 18, 2011 /PRNewswire-Asia/ -- China Power Equipment, Inc. ("China Power Equipment" or "the Company", OTC: CPQQ), the manufacturer of a new generation of energy saving electric transformers and transformer cores in the People's Republic of China, today announced that it will be invited to co-host a rural power grid development conference with AEP in Xi'an on 14 June, 2011.

The conference will provide a platform for industrial professionals to exchange their findings and thoughts on how to use energy efficiency to lift the living standards of populations residing in rural areas. The conference will also introduce the Chinese government's development plan for the rural electricity power grid. Over RMB 500 billion have been pledged in the "Twelfth Five Year Plan" to further develop the rural power grid. The Chinese government also put into place a series of policies, including setting efficiency targets for the electrical grid network, to further improve energy efficiency.

The conference is co-hosted and sponsored by China Power Equipment and Asia Energy Platform (AEP), and supported by major international rural grid technology suppliers, relevant energy organizations and entities. In particular, Hitachi Metals will share with the participants the latest development in amorphous alloy technologies.

Mr. Yongxing Song, Chairman of China Power Equipment, said, "We are very pleased and honored to be invited to host a forum where we can exchange our thoughts with partners from around the world and showcase our technological know-how. This is a rare opportunity for industry professionals to exchange ideas and knowledge on rural electrical development.

"The need to save energy in the world, and China in particular, will provide a solid foundation for market expansion of our amorphous alloy transformers. With the ever increasing demand for electricity in rural areas, an efficient, clean and effective transmission network is critical to minimize pollution, reduce operating cost and conserve energy. We believe our amorphous alloy transformers, which reduce no-load loss by more than 70%, are one of the best options for the development of the rural electrical grid where no-load loss is substantially higher than in urban areas.

"We know that by leveraging this experience with our global counterparts, we will further contribute to improving energy efficiency in China, and build a greener world together."  

The conference is the just the beginning of a series of events and exhibitions in the near future. After the conference, China Power Equipment will also participate in the GTEC exhibition and conference which is a paramount event to be conducted in conjunction with an official high level summit of ASEAN countries. It is important to note that the Company's amorphous alloy transformers will serve as a critical energy saving tool for rural-dominated electric grids in ASEAN. These events will give Chinese companies more opportunities to get access to national and international projects.

About China Power Equipment

China Power Equipment, Inc., is a U.S. corporation, which through its wholly-owned subsidiary, An Sen (Xi'an) Power Science & Technology Co., Ltd. and its affiliated operating company, Xi'an Amorphous Zhongxi Transformer Co., Ltd., designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core electricity transformers in the People's Republic of China. The company currently manufactures 59 different products, primarily amorphous alloy cores and amorphous alloy core transformers. For more information about China Power Equipment, please visit the company's website at www.chinapower-equipment.com.

About Asia Energy Platform (AEP)

Founded in 2005, Asia Energy Platform is a non-profit-oriented organization that promotes the application of energy-efficient and renewable energy technologies in Asian countries.

China, India, and many Asian countries are undergoing rapid economic growth. In the course of development, choosing and effectively applying the right technologies will be crucial to handling resource problems, climate change and many other environmental issues. By closely working with both public and private sectors around the globe, we focus on assisting the sharing of successful technology application experiences across the Asian region. In particular, Asia Energy Platform places emphasis on facilitating Chinese technology providers and equipment manufacturers to contribute to the global energy efforts by getting involved in relevant regional and international projects.

About Hitachi Metals

Hitachi Metals is the major business partner of China Power Equipment and is the largest global supplier of amorphous alloy.

It is a materials manufacturer that has gained distinction for its high-quality technology and outstanding development capabilities since 1910. The company has established a strong reputation as a supplier of distinctive materials and components across a broad range of fields, and achieved over 500 billion Japanese Yen in sales in 2010. In the power sector, Hitachi Metals is the world's largest supplier of amorphous alloy – an advanced magnetic material that can reduce power transformer core loss by 70% with respect to traditional material.