XI’AN, China, May 13 /Xinhua-PRNewswire-FirstCall/ -- China Recycling Energy Corp. (OTC Bulletin Board: CREG) (“CREG” or “the Company”), a leading industrial waste-to-energy solution provider in China, today announced that it has retained Grayling Global to manage a strategic investor relations program (“the IR program”) to target the investment community and financial media.
As the investor relations counsel for CREG, Grayling Global will raise the investment community’s awareness of the Company’s performance in the waste-to-energy area, through timely corporate updates, direct communications with fund managers, financial media placements and investor conference presentations. The IR program will focus on CREG’s environmental solutions and competitive edge in turning industrial waste into electricity, and its response to the Chinese State Environmental Protection Administration’s (SEPA) drive to impose tough anti-pollution regulations on Chinese industrial enterprises.
“We are pleased to have a global IR brand and its senior counselors help us raise our financial profile and ensure the full understanding of our unique business model and exciting growth prospects,” said Mr. Guangyu Wu, CEO of CREG. “We launched our waste-to-energy business in 2006 and currently have 4 projects in operation servicing Chinese steel and cement factories, with 3 more projects under construction (2 for cement and 1 for steel). Last November, Carlyle Asia Growth Partners invested $25 million in our operations, which we think represents a strong vote of confidence by the international capital market. We feel now is the best time to increase our visibility and expand our relationships with U.S. investors, especially those with a clean-energy awareness. We believe Grayling Global is best suited to guide this investor relations process.”
Grayling Global, a subsidiary of Huntsworth PLC (LSE: HNT), is headquartered in London, with offices in New York, Brussels, Hong Kong, Shanghai, Bangkok, Singapore, Madrid, Tel Aviv, Istanbul, Los Angeles, Sacramento, Dublin, Edinburgh, Cardiff, Bristol, and Birmingham. The firm has over 200 consultants, focusing on first-class delivery in public affairs, public relations, investor relations and events management.
About China Recycling Energy Corp.
China Recycling Energy Corp. (OTC Bulletin Board: 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% 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 about CREG, please visit http://www.creg-cn.com .
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of China Recycling Energy Corp. 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 those discussed in the Company’s 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.
