SOURCE: Rotoblock

August 18, 2009 08:00 ET

Rotoblock Predicts Cleantech Boom in China

SANTA ROSA, CA--(Marketwire - August 18, 2009) - Venture capital in clean technologies, or cleantech, was up 84 percent to $540 million in the second quarter, a trend that technology company Rotoblock (OTCBB: RTBC) sees as a global export opportunity in China.

China was projected to surpass the US in manufacturing by 2012, but because of the poor economy and China's better-than-expected recovery, the event could take place as early as next year. In 2010 China will account for 17 percent of manufacturing value-added output of $11,783 billion and the US will make 16 percent, according to estimates by research firm Global Insight.

"The rise in clean technologies is coinciding with the growth of China's economy," said Rotoblock CEO Mr. Chien Chih Liu. "The business relationships we are pursuing in China are very interested in hi-tech manufacturing and we have had serious discussions to explore opportunities in cleantech."

Rotoblock announced an MOU agreement on August 5 with a hi-tech manufacturer in China that has filed patents to produce battery management systems for electric vehicles and other battery powered technologies.

VC investments in cleantech hit a peak of $1.8 billion in the third quarter of 2008, according to Dow Jones. Ernst & Young LLP surveys VC investments in cleantech including electrical generation, solar, wind, energy efficiency, residential smart grid, broadband metering communications, alternative fuels, biofuels, electric cars, advanced batteries, and carbon dioxide capture technology.

Government is encouraging cleantech investments. The Washington Post reported China has the most generous subsidy of $3-a-watt upfront for solar projects, enough to cover about half the capital cost.

"I want Rotoblock to make the trends, not follow them," said Mr. Liu. "We are at the beginning of a new era and I believe Rotoblock is well positioned to be a leader in cleantech. The China government as well as venture capitalists are very interested in this market and the timing for Rotoblock can't be better."

About Rotoblock Corporation -- Rotoblock is focused on the development and manufacturing of advanced technology, energy-efficient and environmental equipment in China for distribution worldwide. The Company was incorporated in Nevada and is headquartered in Santa Rosa, California. Visit Rotoblock's corporate website for details about the company, technology, and regulatory filings. For more info visit: http://www.rotoblock.com.

Safe Harbor For Forward-Looking Statements -- Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rotoblock Corporation has little or no control.

Contact Information

  • Contact:
    Mariya Petrovksa
    Rotoblock
    707-578-5220