ZhongDe Waste Technology AG / Contract 23.01.2009 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press Release 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 ZhongDe Waste Technology AG [Ticker ZEF] announced today that its operational subsidiary Fujian Fengquan Environmental Protection Holding Co. Ltd ZhongDe Group ('ZhongDe') has signed a contract with Zhucheng Baoyuan New Energy Power Generation Co., Ltd on the construction of a 500 tons/day waste incinerator plant with electricity generation. The project is located in the southwest of Wanghe Tou Village, Mizhou Street, 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 Datong project. The Zhucheng project adopts the grate furnace incineration technology. Twoincineration lines with a daily treatment capacity of 250 tons will be installed. The plant treats a maximum of 500 tons of domestic waste daily with an annual 8,000 hours of equipment utilization. The total waste treatment volume of the whole plant is 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. Zefeng Chen, founder and CEO of ZhongDe Waste Technology AG, comments: 'With the rapid development and progress achieved in technology since the IPO, ZhongDe is now capable of not only manufacturing large scale incinerators but also building complete sets of incineration plants with electricity generation. By signing this contract we have successfully started to implement ZhongDes key strategy of expanding into the large-scale incineration market with the objective of strengthening its market position in the segment of municipal waste disposal.' 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 Peoples 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. 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 DGAP 23.01.2009 --------------------------------------------------------------------------- Language: English Issuer: ZhongDe Waste Technology AG Stadthausbrücke 1-3 20355 Hamburg Deutschland Phone: +49 40 37644 745 Fax: +49 40 37644 500 E-mail: cornelia.dieker@zhongdetech.de Internet: www.zhongdetech.de ISIN: DE000ZDWT018 WKN: ZDWT01 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: ZhongDe Waste Technology AG: ZhongDe Waste Technology AG signs contract with Zhucheng Baoyuan New Energy Power Generation Co., Ltd
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