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

Xuzhou Zhongtai Energy Technology Co., Ltd. invested into the construction of CS55-09 coke oven with 5.5 meters of oven chamber, dust collection device for allocating coal, crushing, delivery, removal and screening, gas purification recycling (including desulfurization process), wastewater biochemical treatment facilities, coal gas storage and distribution, recollection and coordination of crude benzene, waste heat utilization and matching public ancillary engineering. The total investment is RMB 1.036 billion yuan. It is expected that the annual production value will be RMB 2.5 billion yuan and tax achieves RMB 280 million yuan after the project is completed and put into operation.

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of China Recycling Energy Corp. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

Mr. David Chong Chief Financial Officer China Recycling Energy Corp. Tel: +86-13701813139  +65-9721 6163 Email: chongscd@creg-cn.com

SOURCE China Recycling Energy Corp.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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