Commercialization of Clean Technology Targeted for 2009
DALIAN, China, Nov. 11 /Xinhua-PRNewswire-FirstCall/ -- RINO International Corp. (OTC Bulletin Board: RINO) today announced that it has successfully developed a new sludge treatment system through cooperation with the Dalian University of Technology.
The new sludge treatment system utilizes superheated steam to dehydrate municipal sludge which can be used as agricultural fertilizer, as a component in various construction materials or combined with coal to generate energy more efficiently with less pollution. The system RINO developed costs approximately 50% less than imported products and the costs of daily operation are approximately 45% less. The Chinese government recently implemented a new regulation that at least 60% of municipal wastewater has to be treated by 2010 and is expected to significantly increase the amount of municipal sludge produced from the wastewater treatment process in China in next several years. RINO management estimates the profit to process one ton of municipal sludge varies between $12 and $19 depending on the steam source, and currently China generates approximately 27.8 million metric tons of municipal sludge annually which is comprised of approximately 80% water.
This technology can also be utilized to dehydrate oil sludge which can then be used in place of coal. Northeastern China, where RINO is located, is the oil industry center and this region generates approximately 2 million tons of oil sludge annually. The profit to process one ton of oil sludge ranges between $39 and $44.
Dalian University of Technology has made a patent application for this technology in China (Application number: 200710011115.0). RINO will pay an ongoing royalty of approximately 5% of sales to the university.
"We are very pleased to announce this new system developed through our cooperation with the Dalian University of Technology," Mr. Zou Dejun, Director and CEO of RINO, commented. "We have already installed and tested this system internally and the results confirm the functionality of our system in dehydrating multiple kinds of sludge. We will move forward with additional field trials and expect to commercialize this product during the first half of 2009. Supported by our strong customer base and brand name, we anticipate the sludge treatment system will further diversify our revenue stream and become a significant growth driver going forward."
About RINO International Corporation
RINO, through its direct and indirect subsidiaries, including Innomind Group Limited and Dalian Innomind Environment Engineering Co., Ltd. ("Innomind"), its contractually-controlled affiliate, Dalian RINO Environmental Engineering Science and Technology Co., Ltd. ("Dalian RINO") and Dalian Rino Environment Project Design Co., Ltd., a wholly-owned subsidiary of Dalian Rino (collectively, the "Company"), is a leading provider of environmental protection equipment for the iron and steel industry in China. Specifically, RINO designs, manufactures, installs and services proprietary and patented wastewater treatment, flue gas desulphurization equipment, and high temperature anti-oxidation systems, which are all designed to reduce either industrial pollution and/or improve energy utilization. RINO's manufacturing facility maintains the ISO 9001 Quality Management System and ISO 14001 Environment Management System certifications, in addition to receiving numerous government and industry awards.
Cautionary Statement Regarding Forward-Looking Information
This upcoming conference call may contain forward-looking information about the Company. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and statements which may include discussions of strategy, and statements about industry trends future performance, operations and products of each of the entities referred to above. Actual performance results may vary significantly from expectations and projections as a result of various factors, including without limitation and the risks set forth "Risk Factors" contained in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and the Registration Statement on Form S-1 as amended filed with the SEC.
For more information, please contact:
For the Company:
Amy Qiu
Tel: +86-411-8766-1233
Email: aqiu@rinogroup.com
Investors:
Matt Hayden
HC International, Inc.
Tel: +1-561-245-5155
Email: matt.hayden@hcinternational.net
