TIANJIN, China, Nov. 12 /Xinhua-PRNewswire-FirstCall/ -- China New Energy Group Company (OTC Bulletin Board: CNER) ("China New Energy" or the "Company"), a leading energy project developer specializing in development of natural gas distribution networks, and distribution of natural gas in China, today announced it has retained CCG to design and execute its investor relations campaign.
"With rapid economic growth and urbanization, China continues to seek energy solutions that will support its economy for the long-term. China New Energy is well positioned to capture the increasing market demand," said Crocker Coulson, President of CCG.
Headquartered in Tianjin, the Company operates distribution networks to provide natural gas in the cities of North China. The rapid growth in wealth and population in the targeted cities requires sufficient energy supplies and well-designed distribution networks.
"We are working actively to seek potential projects, mainly in North China. Currently, we have several targets under review, and we will perform careful due diligence on them. We also expect to attract more talent from the industry due to our successful operating history," said Mr. Jiaji Shang, the Company's Chief Executive Officer. "We are working to become a leading energy solutions provider in China, with highly integrated operations."
Recognizing problems associated with heavy reliance on coal usage, the Chinese government has aggressively moved to reduce coal usage by substituting coal with other, more environmentally friendly forms of fuel, such as natural gas. From the 4th Annual Asia Natural Gas Congress 2008, experts anticipated that the demand for natural gas in China would grow rapidly to 150 billion cubic meters in 2010 and to 240 billion cubic meters in 2015.
"With new financing in August of this year, we are expecting to deploy it aggressively and look forward to a more prosperous year in 2009," concluded Mr. Shang.
About CCG
CCG is a global, full-service investor relations firm, headquartered in Los Angeles, CA, with offices in New York City, Newport Beach, CA, Dallas, Texas, Beijing, Shanghai, Shenzhen and Tel Aviv. CCG is uniquely positioned to provide outsourced, high-level investor relations solutions to its clients, combined with an in-depth understanding of Asia's corporate culture and economic environment, to convey their story to funds and broker-dealers located in the U.S. For further information, contact CCG directly, or visit the Company's Web site at http://www.ccgir.com .
About China New Energy Group Company
China New Energy Group Company ("China New Energy" or the "Company") is engaged in the development of natural gas distribution networks, the distribution of natural gas to residential and industrial customers in small and mid-sized cities in China and the exploration and recovery of natural gas reserves. Currently, the Company, through subsidiaries in China, operates distribution networks to provide natural gas in the cities of North China. The end users consist of industrial and residential customers, which are expected to grow to approximately 160,000 by the year 2010. The Company continues to explore more prospective energy resources to meet the rapidly increasing demand in China.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to access natural gas for distribution, and ability to identify and develop operational locations under favorable terms, changes in natural gas pricing mechanism imposed by the Chinese government, changes in the regulatory environment and future national or regional economic and competitive conditions, and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
CCG Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York) or
Mr. Gary Chin
Tel: +1-646-213-1909
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE China New Energy Group Company
International News / Press Release source: PR Newswire
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