XI'AN, China, May 6, 2011 /PRNewswire-Asia-FirstCall/ -- Sino Clean Energy, Inc. (Nasdaq: SCEI) ("Sino Clean Energy," or the "Company"), a leading producer and distributor of coal-water slurry fuel ("CWSF") in the People's Republic of China ("China"), today announced that Baowen Ren, Chairman of Sino Clean Energy, purchased a total of 115,000 shares of the Company's stock in the open market using his personal funds.
On May 5, 2011, Mr. Ren filed a Form 4, which sets forth the number of shares and price per share of the purchases made. A Form 4 must be filed with the SEC when any shareholder owning 10% or more of a company's common stock purchases or sells shares. Mr. Ren currently owns a total of 3,387,855 million shares, representing 14.4% of the Company.
"The easiest way for me to articulate my confidence in the Company to our shareholders is by using my own capital to buy SCEI stock. I plan to further increase my ownership position in Sino Clean in the coming weeks," Mr. Ren stated. "In the past year, we have considerably expanded our capacity and customer base while entering a new market in Dongguan. China's healthy economic growth and favorable environment and energy policies provide a favorable driver for further increases in CWSF demand."
About Sino Clean Energy
Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water slurry fuel ("CWSF"). With locations in Shaanxi, Liaoning and Guangdong Provinces, Sino Clean Energy is one of the leading CWSF producers in China. For more information about Sino Clean Energy, please visit http://www.sinocei.net.
Safe Harbor Statement
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Assistant to the Chairman
HC International, Inc.
SOURCE Sino Clean Energy, Inc.