Amendment to the CF Energy Signs Exclusive Agreement with BAIC to Provide Electric Vehicle (EV) Battery-Swap Services in the Hainan Province Press Release

Amendment to the CF Energy Signs Exclusive Agreement with BAIC to Provide Electric Vehicle (EV) Battery-Swap Services in the Hainan Province Press Release

TORONTO, May 20, 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”) issues an amendment to its previous press release “CF Energy Signs Exclusive Agreement with BAIC to Provide Electric Vehicle (EV) Battery-Swap Services in the Hainan Province” with respects to its footnote description of the EDF CF (Sanya) Energy Co., Ltd. joint venture. The text stated that “EDF CF (Sanya) Energy Co., Ltd. is a 70% / 30% joint venture between the EDF Group and CF Energy Corp to pursue renewable and clean energy projects in the PRC” while the correct ownership of the joint venture company should be 30% owned by the EDF Group and 70% owned by CF Energy Corp.
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 centers, and households in the Haitang Bay area of Sanya City, the 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.CONTACT INFORMATIONCorporate Investment Relations
investor.relations@changfengenergy.cn
Charles Wang
Executive Assistant to CEO & Chair of the Board
Zhaoyu.wang@changfengenergy.cn
Frederick Wong
Director of the Board
fred.wong@changfengenergy.cn

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