SmartHeat, Inc. Announces Two Initial Orders From a Nuclear Power Station in Jiangsu, Expanding Business Footprint Into Nuclear Power Sector

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Release: 2011-01-18 10:05

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SmartHeat, Inc. (NASDAQ:HEAT) ,a leading Chinese manufacturer, integrator and designer of PHEs (plate heat exchanger) and PHE Units, announced today that it has signed sales agreements to supply its PHEs to the Tian Wan nuclear power station in Jiangsu, which is owned by the China National Nuclear Corporation, China's biggest state-owned nuclear power manufacturer. SmartHeat won two projects through a public bidding process and expects to deliver the PHEs in October 2012 and June 2013.

James Wang, SmartHeat's Chairman & CEO, commented, "While Tian Wan's initial order of PHEs totaled only $650,000, it represents a major milestone for SmartHeat as we have now entered into the nuclear power sector through the largest state-owned, government-managed, nuclear power producer in China. We believe this order will create additional opportunities to supply heat exchangers and related products to nuclear power stations in China."

Mr. Wang further commented that, "We believe that China's nuclear power market will experience strong demand over the next 10 to 20 years due to favorable government policies intended to accelerate the development of nuclear industry. We believe that SmartHeat is well positioned to benefit from this trend because of our strong sales and service network. We are proud that our strategy to penetrate the nuclear power sector is showing results so quickly. We are currently reviewing several strategic alternatives to expand our footprint in the nuclear power sector and expect to see further positive achievements."

About SmartHeat Inc.

Founded by James Jun Wang, a former executive at Honeywell China, SmartHeat Inc. (www.smartheatinc.com) is a NASDAQ Global Market listed (Nasdaq: HEAT) U.S. company with its primary operations in China. SmartHeat is a market leader in China's clean technology energy savings industry. SmartHeat manufactures standard plate heat exchangers (PHEs), custom plate heat exchanger units (PHE Units) and heat meters. SmartHeat's products directly address air pollution problems in China where massive coal burning for cooking and heating purposes is the only source of economical heat energy in China. With broad product applications, SmartHeat's products significantly reduce heating costs, increase energy use and reduce air pollution. SmartHeat's customers include global Fortune 500 companies as well as municipalities and industrial/residential users. China's heat transfer market is currently estimated at approximately $2.4 billion with double-digit annual growth according to China Heating Association.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. SmartHeat's actual results may differ from its projections. Further, preliminary results are subject to normal year-end adjustments. You arecautioned not to place undue reliance on any forward-looking statements in this press release as they reflect SmartHeat's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differmaterially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in SmartHeat's filings with the Securities and Exchange Commission.

Contact Corporate Communications: Ms. Jane Ai, Corporate Secretary SmartHeat Inc. Tel: 011-86-24-25363366 Email: info@SmartHeatinc.com

SOURCE SmartHeat Inc.

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