SmartHeat Inc. Selected by the Chinese Government to Draft China's National Standards for Energy Savings Heat Transfer Products and Technology
Monday February 9, 6:55 am ET
NEW YORK, Feb. 9 /PRNewswire-Asia/ -- SmartHeat Inc. (Nasdaq: HEAT - News), (website: www.smartheatinc.com ), a market leader in China's clean technology energy savings industry, announced today that the Company has been selected by the Chinese government as one of the two main contributors in the drafting of China's national standards for the heat transfer industry. The other contributor is China Standardization Committee on Boilers and Pressure Vessels (CSCBPV), a government regulatory agency.
China has designated significant amount of its $580 billion economic stimulus plan to the energy savings industry. The establishment of national standards for the heat transfer industry reflects the Chinese government's concrete steps towards implementation of the stimulus plan in the green energy industry.
James Wang, Chief Executive Officer of SmartHeat, commented: "SmartHeat's quality energy savings products are broadly utilized in industrial, commercial, construction, manufacturing and residential applications. Being designated as a main contributor to assist in the drafting of China's national benchmarks for the heat transfer industry reflects SmartHeat's significant technological advantage and industry leading position. This is both a great honor for SmartHeat and a growth opportunity to accelerate our market share growth."
About SmartHeat Inc.
SmartHeat Inc. (www.smartheatinc.com) is a NASDAQ listed (stock symbol: HEAT) US company with its primary operations in China. SmartHeat is a market leader in China's clean technology, energy savings industry. SmartHeat manufactures standard plate heat exchangers and custom plate heat exchanger units -- technology that helps to capture and recycle waste heat thus reducing fossil fuel related costs and pollution. SmartHeat's products and technology have broad applications. SmartHeat's customers include global Fortune 500 companies as well as municipalities and industrial/residential users. China's heat transfer market is currently estimated at approximately $2.4 billion with double-digit annual growth according to China Heating Association.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. SmartHeat's actual results may differ from its projections. Further, preliminary results are subject to normal year-end adjustments. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect SmartHeat's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in SmartHeat's filings with the Securities and Exchange Commission.