CF Energy Completes Bidding Process for the Land Use Right Certification for the Haitang Bay Project Energy Station
TORONTO, March 23, 2020 (GLOBE NEWSWIRE) — CF Energy Corp. (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), an energy service provider in the People’s Republic of China (the ”PRC”) is pleased to announce that, further to the press release on February 24, 2020 “CF Energy Business Update”, the Company has now completed the bidding process for the land use right certification from the government of Sanya City for the use of land in the construction of the B energy station. The rest of the formalities for obtaining the land use right certification is expected to be completed within 2-3 weeks.
The Haitang Bay Smart Energy ProjectThe Haitang Bay Smart Energy Project, which combines the use of multiple clean energy sources, including solar, hydro, electricity, and natural gas (CCHP/Co-Gen), is 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. This project is conducted through EDF CF, established between CF Energy and the French EDF Group with a 30-year concession right agreement which gives EDF CF the exclusive right to build, own and operate four energy processing stations in Haitang Bay. The project is considered as a leading integrated smart energy program in the PRC’s energy market. Various advanced technologies have been applied throughout its entire pre-evaluation, construction designs and operational plans. 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
[email protected]Charles Wang
Executive Assistant to CEO & Chair of the Board
[email protected]Frederick Wong
Director of the Board
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