Sino Clean Energy increases coal-water mixture capacity to 850,000 metric tons
Coal-water mixture manufacturer and distributer, Sino Clean Energy (OTCBB: SCLX), announced that its new coal-water mixture (CWM) production facility located in Shaanxi, China commenced operations on January 30, 2010.
The new facility has annual output capacity of 200,000 metric
tons and expands the company’s annual production capacity to 850,000
metric tons.
Sino Clean Energy currently serves 32 customers under supply
agreements totalling approximately 800,000 metric tons per year, and
confirmed today that it is in negotiations with 15 additional customers.
"Based on the growing market demand for our coal water mixture
supported by the government's aim at improving efficiency of coal
processing, conversion, combustion, and pollution control in the use of
coal, we are optimistic that our increased capacity will be rapidly
absorbed by the Chinese energy market. The Tongchuan facility will be
an integral part of our growth for 2010 in our efforts to meet our
revenue and net income targets," stated Baowen Ren, Chairman of Sino
Clean Energy.
"We expect the additional production capacity to make an
immediate impact based on projections of approximately $21 million and
$7 million in revenues and gross profit, respectively, to be
contributed by the new production line in 2010."
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