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CF Energy adds 232 battery-swappable electric taxis as customer in Sanya, Canadian Business Journal

TORONTO, Aug. 23, 2022 (GLOBE NEWSWIRE) — CF Energy Corp. (TSX-V: CFY) (“CF Energy” or the “Company” and its subsidiaries together, the “Group”), a leading new energy service company in China. The People’s Republic of China (“PRC”) provider is pleased to announce that, following the award process, the Group has signed a tripartite exclusive Exchangeable Electric Vehicle (“EV”) purchase and EV battery exchange service. Cooperation Agreement (“Agreement”) with Sanya Feima Vehicle Operating Management Ltd. Co. (“Feima”) and Hainan Huacheng Minghong New Energy Vehicle Sale and Service Ltd. (“Huacheng”) in Sanya City.

Under this agreement, Feima will purchase 232 BAIC EU5 battery-swap type EVs from Huacheng and use them as taxis in Sanya City, excluding the batteries. EV battery exchange station network will be used exclusively. Cities for battery replacement with limited number of quick charges per month.

After a long nurturing period since the first EV battery swap station went live in Sanya in July, the signing of this contract marks a significant milestone in the long-awaited EV battery swap market in Sanya. means 2020. The initiative is fully compatible with the EV introduction plan “Hainan Carbon Peak Introduction Plan” recently issued by Hainan Province.

Hainan Carbon Peak Implementation Plan
Hainan Provincial People’s Government recently released the “Hainan Carbon Peak Implementation Plan”. The plan proposes using clean energy to reach 100% of new and replacement vehicles in the public service and private sector sectors by 2025. By 2030, completely ban the sale of fuel-powered vehicles island-wide and convert all vehicles in the public and private service sectors, except for special-purpose vehicles, to clean energy and replace them with new energy vehicles. use 100% new energy vehicles. A new car in the private car sector.

About CF Energy Corp. (former: Changfeng Energy Inc.)
CF Energy Corp. is a publicly traded Canadian company trading on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is a Chinese integrated energy provider and natural gas utility/distribution company. CF Energy strives to combine leading clean energy technologies with the use of natural gas to provide sustainable energy to its Chinese customer base.

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Corporate investment
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Charles Wang
Assistant to CEO and Chairman of the Board
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Frederick Wong
Director
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Mike Liu
VP Capital Markets
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Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, “forward-looking statements”). All statements other than statements of historical fact are forward-looking statements that are incorporated or incorporated herein by reference. This includes statements regarding activities, events or developments that the company anticipates or anticipates may occur in the future. These forward-looking statements are forward-looking statements such as “intend,” “expect,” “intend,” “plan,” “estimate,” “expect,” “believe,” and “continue.” It can be identified by the use of words about Other similar words and/or negation thereof. There is no assurance that the plans, intentions, expectations or assumptions on which these forward-looking statements are based will prove correct, and undue reliance should not be placed on the forward-looking statements contained in this news release. . Although management believes that the expectations outlined in such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Such statements are not guarantees of performance and are subject to known and unknown risks, uncertainties, assumptions and actual results, performance or achievements that may be expressed or implied. Accomplishments, or other factors that may cause significant deviations from development. by such forward-looking statements. These factors include, but are not limited to, material and ongoing adverse changes in general economic or financial market conditions. Readers are cautioned that all forward-looking statements involve risks and uncertainties. It includes risks and uncertainties detailed in our filings with applicable Canadian securities regulators. A copy is available at www.sedar.com. We encourage readers to consider these factors carefully. The forward-looking statements contained in this news release are made as of the date of this document and we may update or update any forward-looking statements as a result of new information, future events or otherwise. Disclaims any intent or obligation to revise. Except where expressly required by applicable securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities described herein. Therefore, undue reliance should not be placed on its contents.

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CF Energy adds 232 battery-swappable electric taxis as customer in Sanya, Canadian Business Journal

Source link CF Energy adds 232 battery-swappable electric taxis as customer in Sanya, Canadian Business Journal

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