CF Energy Signs Exclusive Operating Right Agreement for the Meishan Project
TORONTO, April 23, 2019 -- CF Energy Corp., (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), an energy provider in the People's Republic of China (the “PRC”), is pleased to announce that Meishan Hengtai Tianzhiyuan Energy Limited (the “Project Company”), a controlled subsidiary of CF Energy, has signed the “Meishan New Economic Development Zone Centralized Heating Operating Contract” with the government of the Meishan New Economic Development Zone for the integrated district energy distribution project (the “Meishan Project”) in the Meishan New Economic Development Zone. The contract stipulates that the Project Company will have exclusive right to provide centralized heating services to the administrative area of the Meishan New Economic Development Zone with an area of 38 square kilometers and the area will expand along with the expansion of the administrative area of the Meishan New Development Zone. The fee for the heating service will be negotiated between the Project Company and its clients with the government of the Meishan New Economic Development Zone providing supervision to ensure fair pricing.
The Meishan Project
The Meishan Project is in the Meishan New Economic Development Zone, an economic zone situated next to central urban area of Meishan City, Sichuan province, the PRC, with a planned development area of 50.5 square kilometers. The Meishan New Economic Development Zone will be a hub for manufacturers of drugs, supplements, medical equipment, and other medical related supplies. The year-round constant demand of steam necessary to produce drugs makes the Meishan New
Economic Development Zone an ideal platform for integrated district energy distribution.
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.
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Director of the Board
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