LISHUI, China, March 20,
2023 /PRNewswire/ -- CN Energy Group. Inc. (NASDAQ:
CNEY) ("CNEY", or the "Company") today announced that its
wholly-owned subsidiary, Zhejiang CN Energy New Materials Co.,
Ltd., has recently signed a contract to supply its high-quality
wood-based activated carbon to a buyer for direct application in
the pharmaceutic industry. The order size is RMB5.76 million, equivalent to approximately
US$0.84 million. The goods sold will
be delivered before March 31,
2023.
Wood-based activated carbon is widely used as an effective
adsorbent in the pharmaceutical industry, mainly due to its unique
properties, which provide a renewable and environmentally-friendly
solution for filtering impurities, removing toxins, purifying
liquids and decolorizing outputs. CNEY is a high-tech enterprise
that utilizes a sophisticated physical pyrolysis process to
manufacture activated carbon products from forest wastes and
agricultural residues. These products can demonstrate apparent
comparative advantages in safety, efficiency and reliability for
end users in the pharmaceutic industry, because they are
characterized by large porous surfaces, high purities and low ash
contents. With reinforced efforts to enhance quality consistency
and price competitiveness, CNEY expects to replicate and scale up
sales to its clients in the pharmaceutical industries in both the
domestic and international markets.
Ms. Xinyang Wang, CNEY's CEO,
commented: "Clients in the pharmaceutical industry typically have
stringent quality prerequisites and rigorous service requirements
for their material suppliers. Gaining a good reputation and
accessing the supply chain in this industry is not an easy task to
accomplish. Nevertheless, we believe this niche market will be
lucrative and strategically attractive. Now that we have moved
diligently in this direction, we will continue to strive for better
client satisfaction. We are determined to strengthen our
capabilities in R&D, quality control and marketing endeavors to
differentiate ourselves from competitors in order to steadily gain
an increasing market share."
About CN Energy Group. Inc.
CN Energy Group. Inc. is currently listed on NASDAQ under the
symbol of CNEY. With patented proprietary bioengineering and
physiochemical technologies, CNEY has pioneered and specialized in
producing high-quality recyclable activated carbon and renewable
energy from abandoned forest and agricultural residues, converting
harmful wastes into invaluable wealth and delivering significant
financial, economic, environmental and ecologic benefits. CNEY's
products and services have been widely used by food and beverage
producers, industrial and pharmaceutical manufacturers, as well as
environmental protection enterprises. For more information, please
visit the Company's website at www.cneny.com.
Forward-Looking Statements
Certain statements, other than statements of historical facts,
made in this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties, including the further spread of the COVID-19 virus
or new variants thereof, or the occurrence of another wave of cases
and the impact it may have on the Company's operations and the
demand for the Company's products, and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
conditions, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
refer to its filings with U.S. Securities and Exchange Commission
(the "SEC"), including, without limitation, Company's registration
statements and other filings with the SEC that set forth certain
risks and uncertainties that may have an impact on future results
and directions of the Company.
Investor Relations
Tel:+86-571-87555823
Email: ir@cneny.com
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SOURCE CN Energy Group. Inc.
