NEW YORK and HARBIN, China, March 30, 2011 (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 announced that it has completed the conceptual design of the Company's Suihua Waste-to-fuel Plant in Harbin. The company also announced the appointment of GeneSyst International as project manager to oversee construction and operation of the company's new facility.
Upon completion, anticipated within eighteen months, the facility is expected to process in excess of 500,000 tons of garbage and 1 million tons of sewage per year, and convert that waste into more than 100,000 tons of clean ethanol fuel and 35MW of power every year. At full capacity, the plant would generate annual sales of approximately $100 million.
Mr. Haipeng Wang, Chairman and President, commented, "By producing our own ethanol from municipal solid waste and sludge, we can lower the input costs for our blended fuels in excess of 15%. Our blended fuel combines ethanol and petroleum fuel, along with our proprietary fuel catalyst, which allows us to increase the concentration of ethanol up to 85%. The resulting fuel is cleaner, higher performance, and costs less than convention fuels. Our blended fuels are gaining wide-spread acceptance across China, and these waste-to-fuel plants will allow us to meet the growing demand."
Mr. Wang continued, "We are excited to partner with GeneSyst International on this groundbreaking project. We expect that within two years our Suihua waste-to-fuel plant in Harbin could contribute an additional US$25 to $30 million of net income annually."
GeneSyst is organized to take commercial advantage of a new proprietary technology to convert organic, toxic, hazardous and carcinogenic wastes of modern society into environmentally harmless substances or products. The company has secured exclusive rights to license a series of U.S. and foreign patents authored or co-authored by its co-founder and chairman, James A. Titmas, an engineering professional with 52 years experience in engineering design and supervision, including water processing and wastes treatment across the U.S. and the world.
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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.
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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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