LISHUI, China, Nov. 25, 2022 /PRNewswire/ -- CN Energy Group. Inc. (NASDAQ: CNEY) today announced that its 6th-generation gasification reactors (FLS-VI) have been formally and smoothly put into full operation at its Tahe Factory, after completing all acceptance checks on design requirements and passing all tests on safety, efficiency and reliability. This is a crucial achievement of CNEY's own R&D team that started in May 2020 to revamp and optimize its 5th-generation gasification reactors (FLS-V). The first prototype of FLS-VI was built and installed in September 2021. This was followed by continuous on-site efforts on debugging shortcomings and enhancing performance, which lasted for 14 months of trial operations. In 2023, applications of FLS-VI gasification reactors are expected to be replicated on a large scale within CNEY's production lines.
Through such technological innovations and engineering progressions, CNEY has attained multifaceted improvements and consequently reinforced its competitive strength in the market. First, the daily outputs of carbonized materials per gasification reactor have increased by five times, from 4 tons for FLS-V to 20 tons for FLS-VI. Second, reactor automation has been ameliorated and streamlined so that the total number of workers needed to produce the same targeted level of outputs can be reduced by nearly two-thirds. Third, the entire production process has become more resource-conserving and environmentally friendly. Electricity and water inputs needed to produce each ton of activated carbon have been reduced by 1.5% and by 3%. Finally, the overall conversion rate from feedstocks to final products has also been boosted, with tangible quality enrichments.
CNEY's CEO, Dr. Kangbin Zheng, said: "We have been constantly striving to achieve engineering excellence, through developing our own intellectual property rights and forging better ways to serve our clients and to protect our environment. With a new generation of innovative and effective gasification reactors, we can produce refined products with higher quality and lower costs. This will create win-win solutions for all stakeholders, including our end users and shareholders."
About CN Energy Group. Inc.
CN Energy Group. Inc. is currently listed on NASDAQ under the symbol of CNEY. With patented proprietary physicochemical 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. CENY'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 kindly visit the Company's website at https://ir.cneny.com/.
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 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.
SOURCE CN Energy Group. Inc.