Coal Water Mixture Production Reaches Total Capacity of 850,000 Metric Tons
BEIJING, Feb. 8 /PRNewswire-Asia/ -- Sino Clean Energy, Inc. (OTC Bulletin Board: SCLX; "Sino Clean Energy," the "Company"), which produces and distributes coal-water mixture in the People's Republic of China ("PRC"), today announced that its new coal-water mixture (CWM) production facility located in Tongchuan, Shaanxi, has commenced operations on January 30, 2010.
The new CWM production facility has annual output capacity of 200,000 metric tons and expands the Company's total annual production capacity to 850,000 metric tons. Sino Clean Energy currently serves 32 customers under CWM supply agreements totaling approximately 800,000 metric tons per year. It is negotiating with 15 potential customers for supply agreements which could represent up to 500,000 metric tons of CWM.
"Based on the growing market demand for our coal water mixture supported by the government's aim at improving efficiency of coal processing, conversion, combustion, and pollution control in the use of coal, we are optimistic that our increased capacity will be rapidly absorbed by the Chinese energy market. The Tongchuan facility will be an integral part of our growth for 2010 in our efforts to meet our revenue and net income targets," stated Baowen Ren, Chairman of Sino Clean Energy. "We expect the additional production capacity to make an immediate impact based on projections of approximately $21 million and $7 million in revenues and gross profit, respectively, to be contributed by the new production line in 2010."
About Sino Clean Energy
Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water mixture ("CWM"). Based in Shaanxi Province, Sino Clean Energy is the largest CWM producer in Northwestern China with 850,000 metric tons of total annual capacity. For more information about Sino Clean Energy, please visit http://www.sinocei.net/ .
Safe Harbor Statement
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world, release and sales of new products and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information please contact:
Company:
Ben Z. Fang
Advisor to the Chairman and CEO
Tel: +1-212-521-3884
Fax: +1-212-521-3888
Email: bfang@axiomcapital.com
Ming Lee
Assistant to the Chairman
Tel: +86-29-8406-7376 (China)
Email: marin_lm@163.com
Investor Relations:
HC International, Inc.
Ted Haberfield, Executive VP
Tel: +1-760-755-2716
Email: thaberfield@hcinternational.net
Web: http://www.hcinternational.net
