CF Energy Hosts the Ceremony of Haitang Bay Smart Energy Project Construction

Markham, Ontario, CANADA

TORONTO, May 22, 2020 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), a leading new energy service provider in the People’s Republic of China (the ”PRC” or “China”) is pleased to announce that, following the press release of completing the bidding process of the land use right certification for the Haitang Bay Smart Energy Project on March 23, 2020, the Company hosted the commencement ceremony for the construction of the project, Sanya City’s first ever low-carbon integrated smart energy project.  The phase one system (including the B energy station) is expected to be in operation by Q1, 2021.

The Haitang Bay Smart Energy Project will have 4 central energy stations, 30 km of district cooling and heating distribution networks, and 38 end user stations by the end of 2023.  Once fully implemented, the system will distribute cooling, heating and hot water to serve 4.7 million square metres of commercial space, including large scale hotels, shopping malls, entertainment parks and buildings, hospitals and other commercial complexes.

The Haitang Bay Smart Energy Project uses optimized multi-energy integration program to distribute cooling, heating and hot water to customers.  The system will apply many advanced technologies, i.e. multi-level compressed high-efficient refrigeration units, “ice battery” technology, hydro heat pump technology, distributed photovoltaic technology and AI data management to provide more efficient energy supply.  A system of such a scale, which has been widely and successfully deployed in other parts of the world, is new to China.

“We are fully committed to our plan and will continue to work closely with our very capable partner, EDF China, to make the Haitang Bay Smart Energy Project a vivid example of the best regional high efficient energy operation in a sustainable business model in China.  Hainan Province has been designated as the largest international free-trade zone by the central government of China.  We are very excited to be able to participate in the new era of development in our home province,” Ann Lin, CEO and Chair of the Board said.

About EDF CF (Sanya) Energy Co., Ltd.

EDF CF (Sanya) Energy Co., Ltd. is a 30% / 70% joint venture between the EDF Group and CF Energy Corp. to pursue renewable and clean energy projects in the PRC.  The landmark project for the joint company thus far is the Haitang Bay Smart Energy Project, which combines the use of multiple clean energy sources, including solar, hydro, electricity, and natural gas (CCHP/Co-Gen), to supply cooling, heating, as well as hot water to the hotels, shopping centres, and households in the Haitang Bay area of Sanya City, Hainan Province, the PRC.  The project is considered as a leading integrated smart energy program in the PRC’s energy market.

About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)

CF Energy Corp. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the PRC.  CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. In 2009, CF Energy was recognized as being one of China’s the Top Ten Most Influential Brands in the Natural Gas Industry and in 2019, ranked amongst the 2019 TSX Venture 50 top performers on the TSXV for the 2018 year.

About EDF Group

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services.  A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy.  The Group is involved in supplying energy and services to approximately 37.1 million customers, of which 26.2 million in France.  EDF is listed on the Paris Stock Exchange.


Corporate Investment Relations

Charles Wang
Executive Assistant to CEO & Chair of the Board

Frederick Wong
Director of the Board

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