This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CREG Announces New USD 34 Million CDQ Project With Estimated Annual Net Profit USD 6.6 Million

XI'AN, China, Dec. 9, 2013  /PRNewswire-FirstCall/ -- China Recycling Energy Corp. (NASDAQ: CREG; "CREG" or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced that its subsidiary Xi'an TCH Energy Technology Co., Ltd ("Xi'an TCH") has signed an EMC Contract with Xuzhou Zhongtai Energy Technology Co., Ltd. ("Zhongtai"), to develop a new Coke Dry Quenching (CDQ) waste heat power generation project.

The purpose of this contract is to invest RMB 210 million ( USD 34.2 million) to build ancillary CDQ facility and a 25 MW waste heat power plant based on  Zhongtai's existing industrial processes. The estimated annual net income will be in excess of RMB 40 million ( USD 6.6 million) and the payback period is 5 years. The operation period of this project is 20 years. Xi'an TCH will provide the funding, construction, equipment procurement, operation and management for the power generation project; and the Company will charge energy saving service fee based on generated electricity.

Xuzhou Zhongtai Energy Technology Co., Ltd. is a key member of Xuzhou Taifa Special Steel Technology Group Co., Ltd., one of top-ten large-scale enterprises for preferential development in Xuzhou.

Mr. Guohua Ku, Chairman and CEO of CREG commented, "We are very pleased with the signing of this EMC contract with Zhongtai, which has abundant resources and will be an important partner for CREG in waste heat electricity generation in the future. It is expected to bring greater revenue growth and enhance the overall attractiveness of our company."

About China Recycling Energy Corp.

China Recycling Energy Corp. (NASDAQ: 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 percent 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

About Xuzhou Zhongtai Energy Co., Ltd.

Xuzhou Zhongtai Energy Technology Co., Ltd. was established in 2005 with designed annual production capacity of 1.2 million tons of coke, manufactures chemical products such like crude benzene, tar, etc. The company is cooperating with Hongkong Yigao Group for the LNG production by manufacturing coke oven gas.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs