American Jianye Greentech Holdings
(PublicWire.com Press Release) — American Jianye Greentech Holdings, Ltd., (OTC Bulletin Board: AJGH) (the “Company”), an alternative fuel company which develops, manufactures, and distributes alcohol-based automobile fuel products in the People’s Republic of China, announced today that the Company’s wholly owned subsidiary, Heilongjiang New Clean Fuel, has signed a Memo Of Understanding with the government of Fujian Province to build a waste treatment and conversion facility to produce green, renewable clean fuel.
The Fujian Province government plans to invest one hundred million U.S. dollars to build this technologically advanced facility during the next eighteen months. Once completed, this facility will be capable of processing 500 thousand tons of garbage, 2.7 million tons of sewage sludge annually producing 100,000 tons clean alcohol fuel generating annual sales of approximately 100 million U.S. dollars. Heilongjiang New Clean Fuel will oversee the construction and operate this facility when construction is completed. The Company is preparing an extensive project report to be submitted for approval by the Fujian Province government. Construction of the facility will commence after the final agreement has been signed.
Mr. Haipeng Wang, CEO of American Jianye Greentech commented, “This will be the first waste conversion facility, to be built in China, capable of turning garbage, sludge, and sewage, into an environmentally friendly green fuel. And we expect the fuel produced from this facility to reach the market by end of 2011.” Mr. Wang continued, “the technology to be used at this facility, has global implications and will help reduce carbon emissions and lead to low-carbon economic development. Waste management that creates green clean and renewable energy to urban and rural areas will make life better in our cities and rural communities.”
About American Jianye Greentech Holdings, Ltd: American Jianye Greentech Holdings, Ltd. is an alternative fuel company that develops, manufactures, and distributes alcohol-based automobile fuel products in the People’s Republic of China. The Company’s products are designed to function as a lower-cost, more environmentally friendly alternative to conventional gasoline-based auto fuel. For more information about AJGH, please visit www.americanjianyegroup.com.
Forward looking Statement
Forward looking statement: This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by American Jianye Greentech Holdings, Ltd. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company with the United States Securities and Exchange Commission and other regulatory authorities.
Hanover Financial Services