Greens Holdings Ltd Manufactures Waste Heat Recovery Products for Lower Temperature Applications

New era in emission-reduction engineering market

HONG KONG, Jan. 12, 2011 /PRNewswire-Asia/ -- GREENS HOLDINGS LTD ("Greens" or the "Company", together with its subsidiaries, the "Group"; HKEx stock code: 1318.HK), a leading manufacturer of key heat transfer products designed to enhance energy efficiency, has been very successful as a supplier of economisers for utility boilers with more than 600 references worldwide working with all types of fuel combustion systems. This year, with even greater emphasis on environmental improvement, Greens is applying its unique technique and craftsmanship to enhance energy efficiency and reduce emissions from power plant boilers by developing economisers and other waste heat recovery products for even lower temperature applications where such solutions were not commercially viable when those power plants were first built.

With the benefit of the joint project between Greens and leading design institutes in China, the Group is now able to apply more modern corrosion resistant materials to tackle the corrosive contents of exhaust gases from boilers and to design, produce and convert existing power plant economisers into more energy efficient designs.

Pursuant to China's Eleventh Five-Year Plan (2006-2010), energy consumption per unit of GDP was targeted to reduce by 20% by 2020. One of the policies implemented to achieve such target is known as the "Big ones over small ones" which means the shutting down of small thermal power units that use older, energy inefficient production technologies and replaces them with bigger more energy efficient units.

Already very active in high and medium temperature applications (i.e. from 230°C to as high as 1650°C ) of heat transfer products, which can aid in the more efficient generation of electricity using sophisticated heat capturing techniques, Greens's latest and more efficient heat transfer solutions can help power plants and other manufacturers to achieve energy savings at low temperature applications as well, while at the same time providing both commercial and environmental advantages. Recently, the Group's production base in JingJiang City, JiangSu Province undertook to design and produce a number of low temperature heat transfer products. One of them is the order for two sets of an "Exhaust Gas Cooling System" for the largest fired power plant in JiangSu Province located in JiangYin City. The system, which is fitted with oval-shaped finned tubes will be installed onto two 350MW coal-fired power generators and will help to cool down the huge volume of exhaust gases (105°C - 120°C) generated by those newly replaced power generation units.

"The China market has a growing need for more effective heat capturing equipment that ensures even lower temperature exhaust gas emission. Waste heat in the low temperature range (0°C - 120°C) can be used for the production of bio-fuel by growing algae in farms, or it can be used in greenhouses or even in eco-industrial parks, recovering low temperature waste heat with no extra expenses would have great potentials to enterprises," said Mr. Frank Ellis, Chairman, CEO and Executive Director of Greens. "Greens has successfully applied oval-shaped finned tubes in developing heat transfer products for the lower temperature environment. Oval-shaped finned tubes have been proven to deliver significantly enhanced heat transfer yields as compared with traditional circular tubes."

"The opening up of this market with widespread applications could mean greater diversification of the Group's revenue through our heat transfer expertise. A number of other sales orders for similar products including economisers for low temperature applications are in progress and we intend to maximise the return from these new products," added Mr. Ellis.

About Greens Holdings Ltd (01318.HK)

Greens Holdings Ltd is a leading international supplier of key heat transfer products and solutions designed to enhance energy efficiency and help reduce heat and carbon dioxide emissions. Based in China and the UK, with manufacturing facilities in Shanghai and Jiangsu Province of the Yangtze River Delta, the PRC, Greens focuses on the manufacture of high quality economisers used in coal-fired power plants, waste heat recovery products such as Heat Recovery Steam Generators (HRSGs) and waste heat boilers, marine products and boiler components, as well as providing related services and repairs. Recently, Greens has diversified into other alternative energy solutions such as waste heat power generation and the production of wind turbine towers to benefit from the rising demand for alternative energy.

Greens has a global sales network covering Europe, China, Japan, South and North America and other parts of Asia. It has received certifications from leading agencies around the world, including ASME certificates in the US and the EN certificate in Europe.

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