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China Keli Wins $265K Sales Order in Waste-to-Energy Sector

^{Published on 2011-05-24 06:10:26 - Market Wire}
 

VANCOUVER, May 24, 2011 /CNW/ - China Keli Electric Company Ltd. (TSX-V: ZKL) ("China Keli" or the "Company") is pleased to announce it has won a sales order from Ruiwei Enviroment Production Renewable Energy Co., Ltd.  Ruiwei is buying high/low-voltage switchgear from China Keli with a total value of RMB1.8million (~CAD$265,000). The equipment will be used for a waste incineration power project in Lishui City, Zhejiang Province. This project has a double benefit of solving a serious municipal domestic waste disposal problem and generating electric power from the disposal process.

"This order again shows how we are rapidly expanding our product sales outside our traditional power distribution sector and into new markets," said Lou Meng Cheong, China Keli's CEO, "Increasingly our products are finding their way into green and cleantech industrial applications."

"This year seems to be a turning point for China Keli in our penetration into environmental application areas", said Madame Wong, Chairperson of China Keli, "We developed a clear strategy for China Keli to enter the "green" sector, and we're seeing real acceptance of our products in these industries."

About China Keli Electric Company Ltd.

China Keli is a hi-tech company that develops, manufactures and installs hi-voltage electrical components and equipment, including preassembled mini-substations, electrical controllers, pressurized/vacuumed switchgears and circuit breakers in the People's Republic of China.  China Keli's markets include electrical transmission and distribution systems, Smart Grid, transportation (railways, subways, street lighting, etc.), and the "Cleantech" sector (renewable energy, solid waste processing, waste water, etc).

ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Lou Meng Cheong
CEO
Phone:  (403) 389-3488

Neither the 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 of this release.

Legal Notice Regarding Forward Looking Statements: Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company's ability to close the Contract. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, and in this news release include: (i) Ruiwei will complete its purchase of RMB1.8M of switchgear; (ii) the Company's products are finding their way into the green and cleantech industrial application. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect, wholly or partially. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) the inability or unwillingness of Ruiwei to fulfill their obligations under the contract, or on the terms set out above or at all, (2) a downturn in general economic conditions in North America or internationally, (3) inability to manufacture the products as demanded by Ruiwei; and (4) fluctuation in the exchange rate between Canadian dollar and Renminbi. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian securities regulators.