Key Developments: China Recycling Energy Corp (CREG.OQ)

CREG.OQ on NASDAQ Stock Exchange Global Market

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Latest Key Developments (Source: Significant Developments)

China Recycling Energy Corp's subsidiary enters into coke dry quenching (cdq) power generation energy management cooperative agreement with Tangshan Rongfeng Iron & Steel Co., Ltd - Form 8-K
Tuesday, 17 Dec 2013 08:30am EST 

China Recycling Energy Corp:Says on Dec. 12, Xi’an TCH Energy Technology Co., Ltd, a subsidiary of the company entered into a Coke Dry Quenching (CDQ) Power Generation Energy Management Cooperative Agreement with Tangshan Rongfeng Iron & Steel Co., Ltd.Says pursuant to the agreement, Xi’an TCH will design, build and maintain a CDQ system and a CDQ waste heat power generation system and sell the power to Rongfeng.Says the construction period of the Project is expected to be 18 months after the Agreement takes effect and from the date when conditions are ready for construction to begin.Says Rongfeng will start to pay an energy saving service fee from the date when the waste heat power generation station passes the required 72 hour test run.Says the term of payment is for 20 years.Says for the first 10 years of the term, Rongfeng shall pay an energy saving service fee at 0.582 renminbi (about $0.095) per kilowatt hour (including tax) for the power generated from the system.Says for the second 10 years of the term, Rongfeng shall pay an energy saving service fee at 0.432 renminbi (about $0.071) per kilowatt hour (including tax).Says if Rongfeng wants to terminate the Agreement early, it shall provide Xi’an TCH a 60 day notice and pay the termination fee and compensation for the damages to Xi’an TCH.  Full Article

China Recycling Energy Corp's Subsidiary announces new $34 mln CDQ Project
Monday, 9 Dec 2013 08:30am EST 

China Recycling Energy Corp:Says that its subsidiary Xi'an TCH Energy Technology Co., Ltd has signed an EMC Contract with Xuzhou Zhongtai Energy Technology Co., Ltd., to develop a new Coke Dry Quenching (CDQ) waste heat power generation project.Says the purpose of this contract is to invest 210 million Yuan ($34.2 million) to build ancillary CDQ facility and a 25 MW waste heat power plant based on Zhongtai's existing industrial processes.  Full Article

China Recycling Energy Corp's Wholly Owned Subsidiary Announces Establishment Of Limited Liability Partnership In Beijing-Form 8-K
Friday, 4 Oct 2013 02:03pm EDT 

China Recycling Energy Corp reported in its Form 8-K that on July 18, 2013, Beijing Hongyuan Recycling Energy Investment Center, LLP (the Fund) was established as a limited liability partnership in Beijing. Pursuant to the Partnership Agreement, the Fund has a general partner, Hongyuan Recycling Energy Investment Management Beijing Co., Ltd. (the Fund Management Company), which made an initial capital contribution of CNY5 million (approximately $833,333) to the Fund. The Fund has three limited partners: China Orient Asset Management Co., Ltd., which made an initial capital contribution of CNY280 million (approximately $46,666,666) to the Fund and is a preferred limited partner, Hongyuan Huifu Venture Capital Co. Ltd. (HHVC), which made an initial capital contribution of RMB 100 million (approximately $16,666,666) to the Fund and is an ordinary limited partner and the Company's wholly-owned subsidiary, Xi’an TCH Energy Technology Co., Ltd. (Xian TCH), which made an initial capital contribution of RMB 75 million (approximately $12.5 million) to the Fund and is a secondary limited partner. The Fund Management Company was jointly formed by Xi’an TCH and HHVC. Xi’an TCH made an initial contribution of CNY4 million ($0.65 million) and owns 40% of the Fund Management Company . The total size of the Fund is CNY460 million (approximately $76.66 million).  Full Article

China Recycling Energy Corp Announces Strategic Cooperation With CGN Energy Service Co., Ltd.
Wednesday, 18 Sep 2013 08:06am EDT 

China Recycling Energy Corp announced that it has entered a strategic cooperation agreement (the "Cooperation Agreement") with China Guangdong Nuclear (CGN) Energy Service Co., Ltd. in recycling energy projects. CGN Energy Service Co., Ltd. and the Company intend to invest in selected constructing projects and are willing to jointly develop more recycling energy projects. Both parties will have regular communication, share projects, and work on equity cooperation plans.  Full Article

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