China Energy Savings is There When New Power Plants Won't Stop the Current Energy Crisis
Sep 20 - PRNewswire
HONG KONG, Sept. 20 /Xinhua-PRNewswire/ -- China Energy Savings Technology, Inc. (BULLETIN BOARD: CESV) today commented on the building of new power plants in China.
Mr. Sun Li, Chairman of China Energy Savings Technology said, "There are
very few glimmers of hope that things will get better, at least in the next few
years, and the government itself expects things to actually get worse before
they get better. It's great that more power plants are being built, but we're in
the here and now, with a real energy crisis on our hands, and if human beings
don't take energy conservation seriously, it may not matter how many power
plants come on-line over the next decade."
Power plants still cannot meet demand (which is growing at a rate of over 15%
a year). Many power plants started investing in new generating capacity last
year, but are not expected to provide any real additional energy for at least
two more years. In Guangdong, for example, their new capacity of 10,300
megawatts is not expected to come online any sooner than the middle of next
year. However, this is sooner than had earlier been anticipated.
"While we wait for all of this additional capacity to make a difference,
we must conserve. We must think conservatively when it comes to energy
consumption, and those with any ability whatsoever to mandate certain energy
saving initiatives should do so," said Mr. Sun.
China Energy Savings Technology has been supplying Chinese governments,
municipalities, shops, factories, and businesses energy savings technology for
many years. Their products are designed to stabilize the AC current and voltage,
and then use it as efficiently as possible.
"In theory," continued Mr. Sun, "Our electricity is supposed
to be supplied at 220 volts. In reality much of our AC current fluctuates
between 160 and 260 volts. This is wasteful, inefficient and detrimental to all
electric devices like machines and lightings," explained Mr. Sun. "Our
products are designed to stabilize that current and voltage at 200 to 220 volts.
By doing so, appliances, machines, streetlamps, and anything else requiring an
AC current to operate can do so as efficiently, and last as long as possible.
Our products do make a difference. We are not only helping end users conserve
energy; we're helping them save money. Demand remains on the rise."
Factories all over China are feeling this impact, and they're feeling it
financially. In Zhejiang's provincial capital of Hangzhou, public and private
companies with 8-hour days have recently been forced to shut down for 4 days a
week. Foreign-owned companies will close for 3 days a week.
Shanghai's Volkswagen plant was also recently forced to shelve production for
several days because of shortages. In Shanghai, the government asked thousands
of companies to take turns putting production on hold one week per month.
"As we grow economically, energy savings plays a very important role in
the economic growth of China. We have to take energy conservation very
seriously. We'll forever remain with one foot in the dark ages if we
don't," concluded Mr. Sun.
About China Energy Savings Technology
The company is engaged in the manufacturing and sales of advanced technology
energy-saving products in the PRC. According to the test reports by various PRC
authorities including National Center of Supervision & Inspection on
Electric Light Source Quality (Shanghai) issued in September 2002 and Shenzhen
Academy of Metrology & Quality Inspection issued in December 2002, the
energy saving products of Shenzhen Dicken Group have the energy saving rates
ranging from approximately 25% to 45%. The energy saving projects conducted by
Starway Group mostly relate to public or street lighting systems, government
administration units, shopping malls, supermarkets, restaurants, factories and
oil fields, etc. There are small and large-scaled projects: the small-scaled
projects relate to restaurants, shops and small arcades through the sale of
equipment, and the large-scaled projects relate to large shopping malls,
supermarkets, factories and public bodies through the provision and installation
of equipment over a term usually extended for years.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in this press
release may be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such matters involve risks and
uncertainties that may cause actual results to differ materially, including the
following: changes in economic conditions; general competitive factors; the
Company's ability to execute its business model and strategic plans; and the
risks described from time to time in the Company's SEC filings.
For more information, please contact:
John Roskelley, President,
First Global Media
Tel: +1-480-902-3110
China Energy Savings Technology, Inc.
CONTACT: John Roskelley of First Global Media, +1-480-902-3110, forCESV