Hanwei stregthens its wind blade manufacturing capabilities through licensing agreement with Aerodyn



    TSX: HE

    
    -   Signs additional RMB 19,000,000 (C$2.7 million) agreement to purchase
        five Aerodyn blade moulds

    -   Adds expertise and experience to wind power equipment manufacturing
        team
    

    VANCOUVER, Feb. 5 /CNW/ - Hanwei Energy Services Corp. ("Hanwei" or the
"Company") announced today that it has entered into a licensing agreement (the
"Agreement") with Aerodyn Energiesysteme GmbH ("Aerodyn"), a leading
international wind power engineering firm, that will further enhance its wind
turbine blade production capabilities by granting Hanwei the non-exclusive
right to produce two versions of Aerodyn's aeroBlade 1.5 in China. The
Agreement provides Hanwei with the moulds, technical know-how, specifications,
and support to produce the 37.5 meter and 40.3 meter versions of the
1.5 megawatt ("MW") blades and market them in China under the Hanwei brand.
Terms of the Agreement require Hanwei to pay a one-time license fee of  EUR
(euro)380,000 (C$561,506) and an annual fee of EUR (euro)50,000 (C$73,882) for
the first mould, EUR (euro)30,000 (C$44,329) for the second mould, and  EUR
(euro)15,000 (C$22,164) for each additional mould. The Agreement automatically
renews annually, and can be terminated by either party. In the event of
termination, Hanwei would retain the right to produce the blades, but would
lose any access to engineering support or technology improvements to the
blades.
    The Agreement will enable Hanwei to upgrade its current wind blade
production and product offering. Aerodyn's proven design and production
techniques place their products at the forefront of the industry. The Aerodyn
wind blades are used throughout the world and are considered best in class by
the industry.
    In support of the Agreement, Hanwei has contracted Suzhou Red Maple Wind
Blade Mould Co., Ltd. ("Red Maple"), a licensed Aerodyn agent in China, to
manufacture and deliver four Aerodyn 1.5 MW 37.5 meter wind blade moulds and
one Aerodyn 1.5 MW 40.3 meter wind blade mould. Each mould includes all
necessary equipment, including heating, hydraulic, and vacuum systems required
to construct the wind blades. In addition to supplying the wind blade moulds,
Red Maple will also be contracted to provide training to Hanwei's engineers
for the construction of the moulds and wind blades. Hanwei expects to begin
training on the production of the Aerodyn wind blades in March 2008, with
delivery of the first 37.5 meter wind blade mould expected in May, 2008.
Delivery of the three additional 37.5 meter wind blade moulds is expected to
be completed by June 30, 2008. Delivery of the 40.3 meter wind blade mould is
expected in August, 2008.
    The two contracts with Red Maple (the "Training Contract" and the "Moulds
Contract") are valued at RMB 19,640,000 (C$2,805,714). The Moulds Contract
(RMB 19,000,000 or C$2,714,285) requires Hanwei to pay a deposit of
RMB 950,000 (C$135,714) and an initial payment of RMB 2,280,000 (C$325,714)
due within three days of execution, with the remainder due in installments
based on the delivery schedule and successful testing and commissioning of the
moulds. The Training Contract is valued at RMB 640,000 (C$90,000) and includes
RMB 340,000 (C$48,571) in raw material costs associated with wind blade
production.
    Hanwei is pleased to announce that it has recently hired four senior
executives and engineers with expertise in, turbine design and supply chain
management, wind blade production and control system design and construction.
Three of new employees were recruited from wind power companies operating in
China, including Suzlon Energy Ltd. and Sinovel Wind Technology Company, one
of China's fastest growing alternative energy companies.
    "Our goal in 2008 is to acquire the technology and expertise required to
establish Hanwei as a leading provider of wind power generation equipment to
China's growing wind power industry," stated Fulai Lang, President and CEO of
Hanwei. "Aerodyn's wind blade manufacturing technology, moulds and training
will increase our effective capacity of top quality wind blades in 2008. The
addition of the new members to our wind power team will assist us with meeting
the technical and supply chain challenges of increasing production to deliver
on the major contract that is part of our recently announced acquisition of
Daqing Deta Electric Co. Ltd."
    Hanwei recently announced the proposed RMB 600 million (C$85.3 million)
acquisition of Daqing Deta Electric Co. Ltd which includes a contract for
1,200 MW of wind power equipment with Daqing Ruihao Technology Co. Ltd., a
major wind power developer in Heilongjiang Province in China, valued at
approximately RMB 8.4 billion (C$1.2 billion). The proposed acquisition also
includes licenses for turbine and blade technology, and the land and building
now being used by Hanwei for its wind power manufacturing plant.

    About Aerodyn Energiesysteme GmbH

    The firm of consulting engineers, Aerodyn Energiesysteme GmbH, was
founded in 1983 and has concentrated its work wholly on the development of
wind energy converters ("WECs") and all of their components. To date,
Aerodyn's development services have featured significantly in approximately 70
very different types of WECs for numerous manufacturers and have completed a
great number of successful overall development projects. In this respect, the
scope of performance includes WECs ranging from 5 kW up to 5000 kW. This makes
Aerodyn the leading, independent firm of consulting engineers world-wide for
the development of WECs. The competence of the staff and their extensive
know-how means that Aerodyn is capable of fully developing new WECs and of
supporting the project until it is ready for series. The engineering services
encompass the development of innovative concepts for the WECs, structural
dynamics and load calculation, component design, optimisation of parts,
aerodynamic and structural rotor blade design, finite element method
calculation for casting, welded and fibre compound elements as well as the
entire documentation for production and certification. Consequently, Aerodyn
can offer manufacturers of WECs and their components comprehensive support in
all areas of wind energy technology so that they can produce WECs even more
reliably, more efficiently and at even more cost-effective prices.
www.aerodyn.de

    About Red Maple

    Located in the city industrial zone of Taicang, Jiangsu, China, Suzhou
Red Maple Wind Blade Mould Co., Ltd. has extensive experience in wind turbine
blade production around the world and is bringing advanced mould building and
mould accessory technology to China, for the domestic and export market. Red
Maple specializes in complete wind turbine blade mould systems, hydraulic
mould closing systems, and mould heating systems. www.redmaplewind.com

    About Hanwei Energy Services Corp.

    Hanwei Energy Services Corp. provides high value products and services
for the energy sector in China and the Asia region. Hanwei serves its major
energy customers through manufacturing facilities in China, producing products
for the oil, coal power and wind power industries. Hanwei is focusing on
providing products and services that address the growing need for improved
energy efficiency and environmental protection in China and the Asia region.
www.hanweienergy.com

    FORWARD LOOKING INFORMATION

    Certain information in this news release is forward-looking within the
meaning of certain securities laws, and is subject to important risks,
uncertainties and assumptions. This forward-looking information includes
information with respect to Hanwei's graduation from the TSX Venture Exchange
to the Toronto Stock Exchange, Hanwei's increased exposure to investors and
analysts in both the national and global capital, and Hanwei's efforts to
expand its international customer base and attract global business partners.
The forward-looking information in this news release describes Hanwei's
expectations as of the date of this news release. The results or events
anticipated or predicted in such forward-looking information may differ
materially from actual results or events. Material factors which could cause
actual results or events to differ materially from a conclusion in such
forward-looking information include Hanwei's inability to fulfill the TSX
requirements for listing. When relying on Hanwei's forward-looking information
to make decisions, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events. Hanwei
cautions that the foregoing list of material factors is not exhaustive and is
subject to change. For additional information with respect to certain of these
and other factors, refer to the risk factors section of Hanwei's Annual
Information Form dated July 10, 2007 filed with Canadian securities
regulators, which is available on SEDAR at www.sedar.com.

    THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS
THE EXPECTATIONS OF HANWEI AS OF THE DATE OF THIS NEWS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. HOWEVER, HANWEI EXPRESSLY
DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING
INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR
OTHERWISE, EXCEPT AS REQUIRED BY APPLICABLE LAW.





For further information:

For further information: Kim Oishi, Senior Vice President, Finance and
Business Development, Telephone: (416) 804-9228, koishi@hanweienergy.com;
Kevin O'Connor, Investor Relations, Telephone: (416) 962-3300,
koconnor@genoa.ca

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HANWEI ENERGY SERVICES CORP.

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