SYNERGY Showcases Sofame in the Chinese Industrial Energy Efficiency Market
MONTREAL, Sept. 19, 2012 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW) (OTC.PK: SFMGF), has reached an agreement with SYNERGY Entech (Shanghai) to sell industrial energy efficiency systems in the People's Republic of China. Sofame is a leading manufacturer of environmentally efficient and cost effective heat recovery systems for traditional fossil-fuel fired equipment, CO2 and NOx reduction technologies, and 50,000,000 BTU/Hr DIRECT-CONTACT water heaters. SYNERGY Entech (Shanghai) began to market Sofame's award winning water heating systems earlier this year. Strong interest from end-users led to the arrangement with SYNERGY. To enter the Chinese market, Sofame has agreed to source key components of its systems in China, and will sub-contract and oversee manufacturing of Sofame heat recovery units for the Chinese market by qualified Chinese manufacturers.
Light fuel oil in China currently costs $1.20 per US gallon, and natural gas costs $5.50 per Dekatherm, about double the US price. Saving energy reduces production costs, and direct contact waste heat recovery offers more savings than standard indirect contact heat exchangers used in China for decades. The Chinese government considers industrial energy efficiency a profit center, and is readily encouraging adoption of new technologies from the West, and wider distribution of domestically produced natural gas. The current five year plan addresses environment and clean energy priorities by boosting non-fossil fuel use up to 11.4 percent of primary energy consumption, water consumption per unit of value-added industrial output is to be cut by 30 percent, energy consumption per unit of GDP is to be cut by 16 percent, and carbon dioxide emissions per unit of GDP are to be cut by 17 percent. Sofame's engineered products contribute to achieving all of these objectives set by the Chinese government.
Edward Wu, Sales Director for SYNERGY stated "We are eager to bring Sofame's proven 94-99% efficiency rates to industrial energy users across China. SYNERGY has already developed the first opportunities to sell Sofame systems in the People's Republic of China. By supplying components sourced in China, a significant cost barrier is eliminated. SYNERGY's new and existing customers will benefit from rapid deliveries and the lowest costs."
According to John Gocek, Sofame's President and CEO, "Chinese plants, boiler rooms, central heating and cogen stations can save fuel costs and reduce emissions by contacting SYNERGY, which is initially focusing on turn-key projects offering financial payback in under one year, including installation."
SYNERGY has five offices in Shanghai, Beijing, Hong Kong, Guangzhou and two more are planned in southwest and central China. Sofame now has representation in China, Mexico and France, in addition to nineteen highly skilled and qualified representative firms promoting and selling Sofame commercial, institutional, and industrial waste heat recovery and water heating solutions across North America. www.sofame.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: SOFAME TECHNOLOGIES INC.For further information:
Sofame Technologies Inc.
President & CEO
(514) 523-6545 x200
SYNERGY Entech (Shanghai)
Tel : +86 21- 6230 0929/ 6140 5869