XI'AN, China, April 16, 2014 /PRNewswire-FirstCall/ -- China Recycling Energy Corp. (NASDAQ: CREG; "CREG" or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced the appointment of Christensen, a global IR and financial media communications firm, as its investor relations advisor.
Mr. Ku Guohua, Chairman and Chief Executive Officer of CREG, stated, "We are pleased to engage Christensen as our strategic advisor. Their extended capital markets expertise and considerable experience working with large scale energy companies matches our needs well. Christensen is a highly professional firm that has had a growing presence in China for more than 12 years and has acquired in-depth understanding of Chinese business culture and Chinese geo-political issues through its work with dozens of state-owned and private companies. We strongly believe that Christensen's international reach, global professional team, and ability to work closely with its clients will help us strengthen our communication with the capital markets."
Mr. Rene Vanguestaine, Chairman and Chief Executive Officer of Christensen, commented, "We strongly believe that CREG has substantial growth opportunities arising from the size of its addressable market and the Chinese government's support for energy-saving and environmental protection industry. We are excited at the prospect of helping investors better understand the value of its business model and its potential for greater shareholder value."
About China Recycling Energy Corp.
China Recycling Energy Corp. (NASDAQ: CREG or "the Company") is a leading developer of waste energy recycling projects for industrial applications in China. Our waste energy recycling projects allow customers who use substantial amounts of electricity to recapture previously wasted pressure, heat, and gas from their manufacturing processes to generate electricity. We currently offer waste energy recycling systems to companies for use in iron and steel, nonferrous metal, cement, coal and petrochemical plants. We construct our projects at our customer's facility and the electricity produced is used on-site by the customer. We provide an energy-efficient solution aimed at reducing the air pollution and energy shortage problems in China. Our projects capture industrial waste energy to produce low-cost electricity, enabling industrial manufacturers to reduce their energy costs, lower their operating costs and extend the life of primary manufacturing equipment.
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. Our management and engineering teams have over 20 years of experience in industrial energy recovery in China. For more information about CREG, please visit http://www.creg-cn.com.
About Christensen Investor Relations
Founded in 1982,Christensen is a global capital markets advisory firm specializing in investor relations, financial public relations and capital markets intelligence for micro-cap to large-cap companies. With 32 years of experience representing an extensive international client base, Christensen has been dedicated to building relationships by partnering with its clients to consistently deliver results that help its clients create shareholder value. Leveraging all opportunities to maximize efficiency, value and profitability, Christensen proactively anticipates both the market and clients' needs, eliminates client risks and addresses all obstacles with effective solutions, providing management with the confidence and freedom to focus on their core business.
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: email@example.com
Rene Vanguestaine (China and US) Chairman and CEO Christensen Investor Relations Tel:135 2160 9333 Email: rvanguestaine@christensenIR.com
Sterling Song (China) Senior Vice President Christensen Investor Relations Tel: 010-5900-1548 Email: ksong@christensenIR.com
SOURCE China Recycling Energy Corp.