SOURCE: AJ Greentech Holdings Ltd

February 20, 2015 06:00 ET

AJ Greentech Signs Contract With Taiwan Subsidiary to Manufacture K-9 Electric Bus Components

NEW YORK, NY and TAICHUNG, TAIWAN--(Marketwired - Feb 20, 2015) - AJ Greentech Holdings, Ltd. (OTCQB: AJGH), a leading developer, manufacturer and distributor of green energy, announced it has signed a contract with its Taiwan subsidiary to manufacture components for 3 BYD Model K9 Electric Bus models as part of its R&D, production, and distribution infrastructure. The contract also gives AJ Greentech Holdings the right to manufacture components for an additional 10 electric bus models in the near future.

These BYD Model K9 Electric Bus components represent AJ Greentech's visionary approach. The efficiency of these buses already far surpasses that of the current market diesel buses. With a 230 kilometer distance in between charges, these electric buses are proof that the market is moving toward efficiency, especially with the diesel buses only slated to run 180 kilometers between charges. The Taiwanese government has already stated that by 2022, all 6200 of its diesel bus models will be replaced with electric bus models. With AJ Greentech's contract, the company will have a direct hand in the manufacturing process of these revolutionary bus models.

Ms. Chu Li An, CEO, stated, "This is an incredible opportunity for us to take a substantial leap forward in the market. The contract gives us more than a right to manufacture and develop electric bus components. It represents our willingness to partner with other strong leaders in the industry and will give us significant advantages in the upstream distribution of the product. We observe this to not only be a trend here but internationally as well. As we move forward, we hope to be pioneers in this revolutionizing market."

About Taiwan Solar Energy Co., Ltd.: Taiwan Solar Energy Co., Ltd. (TSE) takes the responsibility for protecting the Earth with advancing New Energy businesses and technologies. Therefore TSE has coined the term "New Energy Agriculture" as part of its mission statement. Their major investment at this stage focuses on the Projects of New Energy Agriculture Farms, large New Energy Power Plants, Power Plants of BIPV in Cities, and expansive Power Nets Reserved and Energy Storage Systems. With its "beneficial for the common good" attitude, TSE believes that creating techniques in New Energy and rewarding all people has been the company's driving force. Senior professionals, consultants and many intro-national & international partners realize that efficient investments of all projects will yield excellent rewards. TSE expects to become professional leaders in the field of Global New Energy and New Energy Agriculture. Additional information about the company is available at:

About AJ Greentech Holdings: AJ Greentech Holdings is a full-service environmental technologies and R&D firm dedicated to providing innovative solutions to communities, industries and governments addressing the issues of green energy, environmental protection and sustainability. It offers innovative solutions for Green Transportation, Green Energy and Sustainability. AJ Greentech integrates its own native advanced technologies along with third-party technologies and systems to provide its customers with the most effective and economical solutions. Additional information about the company is available at:

Forward-Looking Statements: This release contains certain "forward-looking statements" relating to the business of the Company. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

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