NF Energy Saving Corporation Wins Bidding on Phase III of a Large Ultra-Supercritical Coal Power Plant in Zhejiang Province

US GAAP revenue of US$550,000 to be recognized in Q3 2010

Jan 19, 2010, 08:30 ET from NF Energy Saving Corporation

SHENYANG, China, Jan. 19 /PRNewswire-Asia/ -- NF Energy Saving Corporation (OTC Bulletin Board: NFEC; "NF Energy"), a Chinese leader in providing integrated energy conservation solutions, today announced the Company won bidding on Phase III of a large ultra-supercritical coal power plant in Zhejiang province.

NF Energy will supply 6 sets of DN2200 fluid-control butterfly valve to the project. The Company expects to recognize US GAAP revenue of US$550,000 in Q3 2010.

This power plant is one of China's new Ultra-Supercritical coal power plants being built to replace smaller, more polluting and inefficient coal power plants. The Phase III of the power plant has a design capacity of 2¡Á1000MW of generation capacity. Its total investment is RMB8.2 billion (US$1.2 billion). Coming online in Q3 2011, it will achieve 11 billion kWh of annual electric output.

The total installed capacity of the power plant will be 5000MW, equivalent to one-third of Three Gorges Hydropower Station, becoming one of the largest energy bases in China.

Mr. Li Gang, Chairman and CEO of NF Energy, commented, "We are pleased to win bidding on this important project in Zhejiang province. Our high-quality products are well recognized in the market."

About NF Energy Saving Corporation

Website: http://www.nfenergy.com

NF Energy Saving Corporation (OTCBB: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The current revenues are primarily from its energy saving flow control products. Headquartered in Shenyang city of China, the Company currently has 220 employees and several proprietary energy saving technologies and patents.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 and available from the Securities and Exchange Commission. 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:

    American Capital Ventures
     Howard Gostfrand
     Tel:   +1-305-918-7000
     Email: info@amcapventures.com
     Web:   http://www.amcapventures.com

SOURCE NF Energy Saving Corporation



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