China Energy Recovery posts 86% backlog increase

China Energy Recovery, Inc. revealed a record backlog orders valued at US$32.7 million. This represents an 86 percent increase compared to the backlog orders of US$17.6 million at the same time in 2008. These orders are expected to be completed in the next 12 months with the majority to be completed by the end of 2009.

"It is encouraging to see that industrial firms are becoming more proactive to include energy recovery systems in their plans for new facility construction or retrofit projects of existing ones. Customers are seeing the tremendous economic benefits of such systems in addition to the need to achieve compliance to government mandates for environmental protection and energy efficiency," said Mr. Qinghuan Wu, Chairman and CEO of China Energy Recovery.

"Though there are currently impacts on industrial manufacturers like us from the economic downturn and there will be quarterly fluctuations as a result of our order-based business model, our strong backlog orders provide us good visibility for our performance in the next 12 months, especially for the second half of that period. Our pipeline has also been expanding which is expected to further enhance our performance for the whole year of 2009 and beyond," he added.

The energy recovery systems under these backlog orders, upon completion, are expected to generate nearly 174MW heat energy. This is equivalent to achieving a total annual saving of roughly 370,000 tons of coal, which would otherwise be required to produce the same amount of power.