In the afternoon of 6 July, Mr. Li Wei, CEO of the Group, and Mr. Lv Qinggang, Deputy Director of the Institute of Engineering Thermophysics, Chinese Academy of Sciences(“CAS”),jointly inaugurated YK-CAS CleanEnergy Science& Technology Co., Ltd. (“Clean Energy Company”),a milestone for the joint venture and cooperation between Yankuang Group and CAS Institute of Engineering Thermophysics. This will speed up the technical R&D and industrialization of industrial boiler, product development of pulverized coal clean combustion technology, fast growth of new technology, new products and new businesses.
Li Wei addressed that the establishment of Clean Energy Company was of great significanceto promotion ofreplacing old growth drivers with new ones in coal industry and the reform of efficient and clean combustion technology, creating new growth drivers for traditional industry of Yankuang,thus becoming the leader of replacing old growth drivers with new ones in coal industry and the model of efficient and clean use of coal.
Li Wei hoped that the JV should set a goal of becoming the leading enterpriseinindustrial pulverized coal combustion technology. To fulfill the goal, both partnersshall make full use of their technological, industrial and market advantages, operate in accordance with standard, cooperate sincerely and work together to create a brand-new industry chain and product chain for Blue-Sky Project and strive to be the leaderin replacing old growth drivers with new ones and the model of efficient and clean use of coal, making new contribution for transformation and upgrading of traditional industry.
Mr. Lv Qinggang said, Yankuang Group was always in the forefront of clean coal utilization, research and industrialization. The establishment of the new company is an important action for deepening and accelerating the strategic cooperation, promoting the complementary integration and win-win development of clean and efficient use of coal.
The registered capital of Clean Energy Company is RMB100 million. CAS Institute of Engineering Thermophysics holds 44% interests in the JV, while Yankuang Group owns 56%. The companyis mainly engaged in the research and development of packaged technologies and equipments for pulverized coal low-nitrogen combustion with extensive adaptability, low NOx emission, wide load adjusting range, stable and efficient combustion, high automation degree and low operating costs, creating a new industry of clean and efficient industrial boiler.