DALIAN, China, Nov. 11 /Xinhua-PRNewswire-FirstCall/ -- RINO International
Corp. (OTC Bulletin Board: RINO) today announced that it has successfully
developed a new sludge treatment system through cooperation with the Dalian
University of Technology.
The new sludge treatment system utilizes superheated steam to dehydrate
municipal sludge which can be used as agricultural fertilizer, as a component
in various construction materials or combined with coal to generate energy
more efficiently with less pollution. The system RINO developed costs
approximately 50% less than imported products and the costs of daily operation
are approximately 45% less. The Chinese government recently implemented a new
regulation that at least 60% of municipal wastewater has to be treated by 2010
and is expected to significantly increase the amount of municipal sludge
produced from the wastewater treatment process in China in next several years.
RINO management estimates the profit to process one ton of municipal sludge
varies between $12 and $19 depending on the steam source, and currently China
generates approximately 27.8 million metric tons of municipal sludge annually
which is comprised of approximately 80% water.
This technology can also be utilized to dehydrate oil sludge which can
then be used in place of coal. Northeastern China, where RINO is located, is
the oil industry center and this region generates approximately 2 million tons
of oil sludge annually. The profit to process one ton of oil sludge ranges
between $39 and $44.
Dalian University of Technology has made a patent application for this
technology in China (Application number: 200710011115.0). RINO will pay an
ongoing royalty of approximately 5% of sales to the university.
"We are very pleased to announce this new system developed through our
cooperation with the Dalian University of Technology," Mr. Zou Dejun, Director
and CEO of RINO, commented. "We have already installed and tested this system
internally and the results confirm the functionality of our system in
dehydrating multiple kinds of sludge. We will move forward with additional
field trials and expect to commercialize this product during the first half of
2009. Supported by our strong customer base and brand name, we anticipate the
sludge treatment system will further diversify our revenue stream and become a
significant growth driver going forward."
About RINO International Corporation
RINO, through its direct and indirect subsidiaries, including Innomind
Group Limited and Dalian Innomind Environment Engineering Co., Ltd.
("Innomind"), its contractually-controlled affiliate, Dalian RINO
Environmental Engineering Science and Technology Co., Ltd. ("Dalian RINO") and
Dalian Rino Environment Project Design Co., Ltd., a wholly-owned subsidiary of
Dalian Rino (collectively, the "Company"), is a leading provider of
environmental protection equipment for the iron and steel industry in China.
Specifically, RINO designs, manufactures, installs and services proprietary
and patented wastewater treatment, flue gas desulphurization equipment, and
high temperature anti-oxidation systems, which are all designed to reduce
either industrial pollution and/or improve energy utilization. RINO's
manufacturing facility maintains the ISO 9001 Quality Management System and
ISO 14001 Environment Management System certifications, in addition to
receiving numerous government and industry awards.
Cautionary Statement Regarding Forward-Looking Information
This upcoming conference call may contain forward-looking information
about the Company. Forward-looking statements are statements that are not
historical facts. These statements can be identified by the use of
forward-looking terminology such as "believe," "expect," "may," "will,"
"should," "project," "plan," "seek," "intend," or "anticipate" or the negative
thereof or comparable terminology, and statements which may include
discussions of strategy, and statements about industry trends future
performance, operations and products of each of the entities referred to above.
Actual performance results may vary significantly from expectations and
projections as a result of various factors, including without limitation and
the risks set forth "Risk Factors" contained in the Company's Annual Reports
on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and
the Registration Statement on Form S-1 as amended filed with the SEC.
For more information, please contact:
For the Company:
Amy Qiu
Tel: +86-411-8766-1233
Email: aqiu@rinogroup.com
Investors:
Matt Hayden
HC International, Inc.
Tel: +1-561-245-5155
Email: matt.hayden@hcinternational.net
SOURCE RINO International Corp.
