(Source: PRNewswire-Asia)
SHANGHAI, China, Jan. 6 /PRNewswire-Asia/ -- China Energy Recovery, Inc. (OTC Bulletin Board: CGYV; "CER"), a leader in the waste heat energy recovery sector of the industrial energy efficiency industry, announced today that it has successfully completed an EPC (Engineering, Procurement and Construction) project (the "Project") for a new specialty sulfuric acid plant, operated by Jiahua Chemical ("Jiahua"), in late December 2008. The Project is a showcase of the customers' recognition of CER's strong engineering capability in undertaking complex EPC projects for the main production facilities integrated with waste heat recovery systems.
The Project has employed new processes and technological applications to produce 35,000 tons of Analytical Reagent ("AR") sulfuric acid and 37,000 tons of liquid sulfur trioxide ("SO3"). The revenue associated with the Project for CER amounts to roughly RMB22.8 million (approximately $3.3 million at the average exchange rate of 2008).
China Energy Recovery's CEO and Chairman of the Board, Mr. Qinghuan Wu, stated, "We are very proud that Jiahua Chemical chose to work with us again. This EPC project again demonstrates our customers' trust and satisfaction of our engineering capability which has brought to them high efficiency in both manufacturing of main products and energy use while achieving environmental protection goals."
This is the second EPC project that was awarded by the same customer and an add-on to Jiahua's main sulfuric acid plant which has 400,000 tons of annual production capacity and features an integrated waste heat recovery system. CER completed the EPC project for the main plant and the waste heat recovery system in 2004. With CER's recovery system, the waste energy recovered at the plant is converted into electricity with 8.2 MW of power generation capacity. This has enabled Jiahua to achieve a high level of energy efficiency and environmental protection, which can be quantified as (i) annual saving of roughly 17,700 tons of coal (coal equivalent) that would otherwise be required to produce the same amount of power and (ii) the reduction of 47,100 tons of carbon dioxide emission each year.
What is Waste Heat Energy Recovery?
Industrial facilities release significant amounts of excess heat into the atmosphere in the form of hot exhaust gases or high-pressure steam. Energy recovery is the process of recovering vast amounts of that wasted energy and converting it into usable heat energy or electricity, dramatically lowering energy costs. Energy recovery systems are also capable of capturing harmful pollutants that would otherwise be released into the environment. It is estimated that if energy currently wasted by all the U.S.
