XI'AN, China, April 12 /PRNewswire-Asia-FirstCall/ -- China Recycling Energy Corp. (Nasdaq: CREG; "CREG" or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced it has completed the second 9-MegaWatt ("MW") capacity power unit in Phase I for the Erdos Waste Heat Power Generation Project ("Erdos Project") with Erdos Metallurgy Co., Ltd. ("Erdos Metallurgy") in March, 2010, finishing phase I with a total of 18 MW of capacity.
Mr. Guohua Ku, Chairman and CEO of CREG, commented, "With completion of the first phase during the first quarter of 2010 on schedule, we are moving forward to kick off our follow-on projects in phase II and phase III with full confidence in delivery of our waste-to-energy recovery systems to our major customer on time."
About China Recycling Energy Corp.
China Recycling Energy Corp. (Nasdaq: CREG) 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% 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.
For more information, please contact:
In China:
China Recycling Energy Corp.
Mr. Leo Wu, Investor Relations
Tel: +86-29-8765-1097
Email: tch@creg-cn.com
In USA:
American Capital Ventures, Inc.
Mr. Howard Gostfrand
Tel: +1-305-918-7000
Email: hg@amcapventures.com
