Two investors provided an aggregate of
An additional
With this transaction, CER has raised approximately
What is Waste Heat Energy Recovery?
Industrial facilities release significant amounts of excess heat into the atmosphere in the form of hot exhaust gases or high-pressure steam. Energy recovery is the process of recovering as much as two-thirds of that wasted energy and converting it into usable heat energy or electricity, dramatically lowering energy costs. Energy recovery systems are also capable of lowering heat pollution and capturing harmful pollutants that would otherwise be released into the environment. It is estimated that if energy currently wasted by all the U.S. industrial facilities could be recovered, it could produce power equivalent to 20% of U.S. electricity generation capacity without burning any additional fossil fuel, and could help many industries to meet stringent environmental regulations.
About China Energy Recovery, Inc.
CER is an international leader in designing, manufacturing and installing
waste heat energy recovery systems which provide facilities with greater
energy efficiency. The company's primary focus is on the Chinese market. CER's
technology captures industrial waste energy to produce low-cost electrical
power, enabling industrial manufacturers to reduce their energy costs, shrink
their emissions footprint, and generate sellable emissions credits. CER has
deployed its systems throughout
Forward-Looking Statement Disclaimer
This press release includes "forward-looking statements" within the
meaning of the Securities Litigation Reform Act of 1995, as amended. All
statements, other than statements of historical fact, included in the press
release that address activities, events or developments that CER believes or
anticipates will or may occur in the future are forward-looking statements.
These statements are based on certain assumptions made based on experience,
expected future developments and other factors that CER believes are
appropriate under the circumstances. Such statements are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the control
of CER and may not materialize, including, without limitation, the efficacy
and market acceptance of CER's products and services, CER's ability to execute
on its business plan and strategies, CER's financial condition and its ability
to service its debt, CER's ability to finance and complete its new production
facility, and CER's ability to successfully complete orders and collect
revenues therefrom. Investors are cautioned that any such statements are not
guarantees of future performance. Actual results or developments may differ
materially from those projected in the forward-looking statements as a result
of many factors. Furthermore, CER does not intend (and is not obligated) to
update publicly any forward-looking statements, except as required by law. The
contents of this release should be considered in conjunction with the warnings
and cautionary statements contained in CER's filings with the Securities and
Exchange Commission, including CER's Annual Report on Form 10-K filed with the
Securities and Exchange Commission on
For more information, please contact: Adam Friedman Adam Friedman Associates Tel: +1-212-918-2529 x18 Email: adam@adam-friedman.com Cindy Cheng China Energy Recovery Tel: +86-21-5556-0020 x503 Email: ir@haie.com
SOURCE China Energy Recovery, Inc.