While many companies are experiencing a slowdown in revenue growth, China Energy Recovery has seen its total contract value for the first nine months of this year rise to RMB 130 million, which is the equivalent of approximately USD $19 million. This figure is nearly a $3-million increase over the entire year of 2007.
Chairman and CEO Mr. Qinghuan Wu stated, “We’re very pleased to see the significant growth CER has enjoyed through the first three quarters of 2008, and are looking forward to what looks to be shaping up to be a robust fourth quarter. Our systems are now operating in facilities reaching from Korea to Egypt, from Vietnam to Pakistanand throughout China. New systems will soon be operating in Malaysia, Turkey and as far away as Papua New Guinea.”
He continued, “We’re very pleased with the growth in both our domestic and foreign sales and look forward to expanding those efforts as we look to further develop all of our markets in 2009 and beyond.”
China Energy Recovery is focused on designing, fabricating, implementing and servicing energy recovery systems. The company’s technology is uniquely designed to capture industrial waste energy to produce inexpensive electrical power, allowing industrial manufactures to decrease energy costs while shrinking their emissions footprint and generating sellable emissions credits. As of today, the company has implemented more than one hundred energy recovery systems around the globe.
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