SOURCE: China Prosperous Clean Energy Corp

September 09, 2009 10:29 ET

China Prosperous Clean Energy Corporation ("CHPC") Opened Two New Filling Stations in Pingdingshan and Jiaozuo, Henan Province, China

ANYANG, CHINA--(Marketwire - September 9, 2009) - In March, 2009, Pingdingshan City Zhenyuan Energy Technology Developing Co., Ltd ("Pingdingshan Company"), one of CHPC's (OTCBB: CHPC) wholly owned sub-subsidiary companies, opened a new compressed natural gas ("CNG") filling station at New Nanhuan Road, Pingdingshan, Henan Province, China ("New Nanhuan Road Station"), which is the first CNG filling station owned by CHPC in Pingdingshan area.

New Nanhuan Road Station is located at a superior site, only one kilometer to Pingdingshan Train Station with tremendous vehicle flow. New Nanhuan Road Station is one of the conventional sub-stations of Linying Mother Station. Its design capacity is 10,000 cubic meters per day and reserve capacity is 20,000 cubic meters per day. Its gas supply is from Yuzhou City.

Since the inception of its operation in March, 2009, New Nanhuan Road Station has witnessed a steady growth of sales revenues. Currently Pingdingshan Company is in the process of applying for approvals and permits for the construction of another CNG filling station and expects to launch the construction in 2010. When these two filings stations are both put into full operations, Pingdingshan Company expects to occupy more than half of the natural gas vehicle market share in Pingdingshan City, which will give it the benefit of scale and collaboration. Given its significant potential of growth, Pingdingshan Company has been considered by Zhanhe District of Pingdingshan City as one of the "Top Ten Key Supported Projects."

On January 22, 2009, Jiaozuo Prosperous Co., Ltd ("Jiaozuo Prosperous"), one of CHPC's wholly owned sub-subsidiary companies, opened a new compressed natural gas ("CNG") filling station located at West Jiefang Road, Jiaozuo City, Henan Province, China ("West Jiefang Road Station"). The attendees of the grand opening ceremony included company management, local government officials and the media.

West Jiefang Road Station, a 4.9 acre facility at a superior location, is one of the two major CNG filling stations operated by Jiaozuo Prosperous. The total investment for it was approximately 1.6 million dollars. With a design capacity of 30,000 cubic meters per day, five dual-nozzle pumps and four drive-through lanes, West Jiefang Road Station is one of the larger-sized CNG filling stations owned by CHPC. Its premises is purchased through the government transfer program and it has acquired all the licenses and permits for operations and has installed comprehensive safety systems.

The gas supply of West Jiefang Road Station is the compressed coal-bed methane from Jincheng City, Shanxi Province, which is a high quality and relatively cheaper fuel source popular among end users.

West Jiefang Road Station is a conventional sub-station which uses the leading domestic gas booster compressor technology. Through its trial operation phase, its actual daily sales volume has almost reached the design capacity. It is one of the key investment projects in Jiaozuo City and is anticipated to bring prominent economic and social benefits.

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This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

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Contact Information

  • For more information, please contact:

    Ben Wang
    Chief Financial Officer
    China Tel: 86-10-6561-6387