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Sinoenergy Corporation Imports Equipment for Three CNG Filli


编辑:AG88 时间:2018-10-03



PINGDINGSHAN, China, March 7 /Xinhua-PRNewswire-FirstCall/ -- Sinoenergy Corporation (OTC Bulletin Board: SNEN), ("Company"), a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment as well as a designer, developer and builder of CNG stations in China today announced that Pingdingshan Sinoenergy Gas Co., Ltd. ("Pingdingshan Sinoenergy"), a 90% holding subsidiary of Sinoenergy Corporation, received the first batch of imported equipment for building three CNG sub-stations in Pingdingshan.

Sinoenergy is the only company to have obtained approval from the Pingdingshan municipal government to build and operate CNG stations in the Pingdingshan area. According to the terms of this approval, the Company is allowed to build one CNG mother-station and ten CNG filling sub-stations in Pingdingshan and its surrounding area over the next two years. Following the arrival of this imported key equipment, the Company has begun construction of three CNG filling stations. Pingdingshan Sinoenergy was incorporated in December 2006.

"We are very pleased to announce the arrival of this critical equipment and to be able to start building our first three CNG filling stations in Pingdingshan, which represents another important step towards our goal to become a major operator of clean-burning CNG stations in China," said Mr. Deng Tianzhou, Chairman of Sinoenergy Corporation. "We expect to complete construction of our first three CNG filling stations in Pingdingshan by July 2007 and the stations are expected to begin generating revenues shortly thereafter."

Located in central Henan province, Pingdingshan has an area of 4,926 square miles and population of 4.9 million. The city has a potential auto CNG market capacity estimated at 36 million cubic meters per year.

About Sinoenergy

Sinoenergy is a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment as well as a designer, developer and builder of CNG stations in China. In addition to its CNG related products, the Company also manufactures a wide variety of pressure containers for use in different industries, including the design and manufacture of various types of pressure containers in the petroleum and chemical industries, the metallurgy and electricity generation industries and the food and brewery industries.

Safe Harbor Statement

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; legal and regulatory risks associated with the share exchange; the future trading of the common stock of the Company; the ability of the Company to operate as a public company; 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. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in itAAAApectationAAAAAcept as may be required by law. Although the Company believes that the expectationAAAApressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

For more information, please contact:

Ms. Laby Wu, CFO

Sinoenergy Corporation

Tel: +86-10-8492-8149

Email: labywu@gmail.com

Mr. Crocker Coulson, President

CCG Elite Investor Relations Inc.

Tel: +1-646-213-1915 (New York)

Email: crocker.coulson@ccgir.com

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