NEW YORK and HARBIN, China, Dec. 28, 2010 (GLOBE NEWSWIRE) -- American Jianye Greentech Holdings, Ltd. (OTCBB:AJGH), a leading developer, manufacturer and distributor of alcohol-based automobile fuel and civil-use fuel in China, today noted that the Mayor of Harbin recently announced plans to implement American Jianye Greentech Holdings' proposal to establish and fund an Operations Office for Promoting Methanol Clean Fuel, which shall operate under the Department of Petrochem Industry and the Harbin Ministry of Industry.
The Operations Office as envisioned will be led by the Mayor of Harbin with the Deputy Mayor serving as Deputy Chief. Committee members will be comprised of a broad and representative segment of industry and government policymakers. Specifically, the members will be comprised of senior officers from the National Development and Reform Department, National Pricing Department, National Tax Department, Local Tax Department, Ministry of Finance, Ministry of Construction, Police Department, Science & Technology Department, Business Bureau Department, Ministry of Planning, Ministry of Land, Fire Department, Ministry of Transports, Ministry of Safety, Ministry of Environment Protection, the Technology Supervision Department and the Industrial & Commercial Bureau.
Also under the plan enacted by the Mayor of Harbin, a new organization, the Harbin Clean Fuel Association, will be created and will be responsible for coordinating and partnering private industries with government to promote Methanol clean fuel.
Mr. Haipeng Wang, Chairman and Chief Executive Officer, commented, "We appreciate the strong support from the Harbin Government for our proposal to promote clean fuel products in Harbin. As the only clean fuel manufacturer authorized to sell or operate within Heilongjiang Province, we are extremely well positioned to benefit from these initiatives. Importantly, our fuels are lower cost than petroleum fuels and burn with higher efficiency as well as significantly lower toxic waste emissions due to our proprietary and patented catalysts."
"As adoption of these fuels becomes more widespread, our technology will help reduce dependence on petroleum fuels and help the environment. Our proprietary fuels have significantly lower toxic waste emissions versus any unleaded gasoline that meets China's national GB17930-2006 fuel quality standards. The average total toxic waste emission level of our fuel is only 1% of the maximum toxic emission level mandated by the Chinese industry regulators and exceeds international fuel quality standards for Type IV lead-free gasoline."
About American Jianye Greentech Holdings
American Jianye Greentech Holdings, headquartered in Harbin, China, is a leading developer, manufacturer and distributor of alcohol-based fuel. The company's alcohol-based fuels burn with higher efficiency and significantly lower toxic waste emissions than unleaded gasoline. The unique combination of catalysts in the fuel enhance fuel octane rating and engine power, inhibit the premature oxidation of the fuel, help remove sediment in the carburetor, and prevent the erosion of the engine cylinder surface. Additional information about the company is available at: .
This press release contains certain "forward-looking statements" relating to the business of the Company. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( www.sec.gov ). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
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