Ad-hoc-News

Ad hoc announcement according to § 15 WpHG of 23 January 2009

ZhongDe Waste Technology AG signs contract with Zhucheng Baoyuan New Energy Power Generation Co., Ltd

 

Contract value of approx. € 30M (268,350,000 RMB, 100 EUR = 887.62 RMB)

500 tons/day waste incinerator plant with electricity generation for Zhucheng

Strategic milestone to expand into large-scale incineration market

 

Hamburg, 23 January 2009

 

The operational subsidiary of ZhongDe Waste Technology AG [Ticker ZEF], Fujian Fengquan Environmental Protection Holding Co. Ltd ("ZhongDe"), has signed today a contract with Zhucheng Baoyuan New Energy Power Generation Co., Ltd on the construction of a waste incinerator plant with a capacity of 500 tons/day, which can also generate electricity. The plant is built in Zhucheng City, Shandong Province. The total contract volume amounts to approx. € 30 million. ZhongDe expects the project to be completed by the end of 2010. The "percentage of completion"-method is being used for this major contract, which means that the Zhucheng project will contribute to the revenues and earnings of 2009 and 2010. This is another large engineering, procurement and construction project (EPC project) after the conclusion of the contract for the Datong project in March 2008.

 

The Zhucheng project adopts the grate furnace incineration technology. Two incineration lines with a daily treatment capacity of 250 tons will be installed. The total waste treatment volume of the whole plant is up to 165,000 tons per year. Each incineration line is supported with semi-dry flue-gas purifying treatment. The steam produced from the waste heat boiler will be utilized for the power generation of a 9MW turbo generator unit. The electric power generated by the unit will be partly used for production and supply of the plant. The remaining generated electricity will be incorporated into the urban power grid.

 

 

About ZhongDe Group

ZhongDe Group designs, manufactures and installs pyrolytic, grate and rotary kiln waste incinerators for the disposal of solid municipal, industrial (including hazardous) and medical waste, as well as complete sets of incineration plants with electricity generation.

 

Since 1996, ZhongDe Group has installed approximately 190 waste incinerators in about 13 provinces, and more than 130 waste incinerators in the last three financial years alone. Its waste incinerators are principally constructed for small and midsized Chinese cities in developed areas of the People's Republic of China, as well as for operators of medical disposal centres in the hospital and healthcare industry. ZhongDe Group is one of the leading suppliers of small and midsized solid waste incinerators in China, supplying state-of-the-art products. The trading of the shares (German Securities Identification Number ZDWT01, ISIN DE000ZDWT018 and ticker symbol ZEF) commenced on the Prime Standard segment of the Frankfurt Stock Exchange on 6 July 2007.

 

 

Contact

Sylvia Faber
CEO
Citigate Dewe Rogerson GmbH
Goethestraße 26-28
60313 Frankfurt am Main
Tel: 0049-69 90 500-100
Fax: 0049-69 90 500-101
E-Mail: sylvia.faber@citigatedr.de
Internet: www.citigatedr.de