“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.” Said James Wang, SmartHeat's Chairman & CEO
– Edited By Tom Lamar –
SmartHeat, Inc. a manufacturer, integrator, and designer of PHEs (plate heat exchanger) and PHE Units, announced 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."