China Energy Recovery Completes a New $3.3 Million Project for a Repeat Customer

China Energy Recovery, Inc., a leader in the waste heat energy recovery sector of the industrial energy efficiency industry, announced today that it has successfully completed an EPC (Engineering, Procurement and Construction) project (the “Project”) for a new specialty sulfuric acid plant, operated by Jiahua Chemical (“Jiahua”), in late December 2008. The Project is a showcase of the customers’ recognition of CER’s... Read more..

South Africa’s Minister of Minerals and Energy Welcomes Denham Capital Investment in BioTherm Energy to Develop Power Generation Business

Denham Capital, a leading energy-focused global private equity firm, announced today that it will invest equity of up to R1,5 billion (US $150 million, 95 million pounds Sterling) in BioTherm Energy, a South African developer, owner and operator of renewable and clean energy generation projects. Commenting on Denham Capital’s investment, Buyelwa Sonjica, South Africa Minister of Minerals and Energy said, “Having opened BioTherm’s... Read more..

Primary Energy Recycling Corporation Announces October Distribution

Primary Energy Recycling Corporation announced today that a cash distribution of Cdn$ 0.06667 per enhanced income security (“EIS”) of the Company will be paid on November 28, 2008 to holders of record on October 31, 2008. Each EIS consists of one common share (a “Common Share”) and a subordinated note with par value of Cdn$ 2.50 which pays interest at a rate of 11.75% per annum (the “Subordinated Note”). The EISs... Read more..

China Energy Recovery Announces the Addition of James Zhao as CTO of Its Operating Affiliate

China Energy Recovery, Inc., a leader in the waste-heat recovery sector of the alternative energy industry, today announced that Mr. James Zhao is joining China Energy Recovery to serve as CTO of Shanghai Hai Lu Kun Lun Hi-tech Engineering Co., Ltd., an operating affiliate of CER. The announcement was made by China Energy Recovery’s Chairman and CEO, Mr. Qinghuan Wu. “We’re very proud to have James Zhao join our management team at such a critical... Read more..

Primary Energy Recycling Corporation Announces Decision to Not Extend Revolving Loan Provisions of Credit Agreement

Primary Energy Recycling Corporation announced today that after evaluating the Company’s liquidity position, it has determined that its current cash on hand of $14.4 million (at July 31, 2008) plus anticipated proceeds from operations are expected to be adequate to fund near term business operations and distributions. As a result, it has let the $15 million Revolving Loan provisions of its Credit Agreement expire. The Revolver had not been... Read more..

Primary Energy Recycling Corporation Announces August Distribution

Primary Energy Recycling Corporation announced that a cash distribution of Cdn$ 0.06667 per enhanced income security (“EIS”) of the Company will be paid on September 30, 2008 to holders of record on August 29, 2008. Each EIS consists of one common share (a “Common Share”) and a subordinated note with par value of Cdn$ 2.50 which pays interest at a rate of 11.75% per annum (the “Subordinated Note”). The EISs trade... Read more..