ZhongDe Waste Technology AG

Regulatory Filings • Sep 7, 2009

News Details

Corporate | 7 September 2009 09:15

ZhongDe Waste Technology AG signs Letter of Intent with Covanta Energy Asia Pacific Holdings Ltd

ZhongDe Waste Technology AG / Letter of Intent

07.09.2009

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Companies to Cooperate in the development and operation of large-scale
Waste-to-Energy projects

Hamburg, 7th September 2009 - ZhongDe Waste Technology AG [Ticker ZEF] has
signed a letter of intent in Beijing with Covanta Energy Asia Pacific
Holdings Ltd, a wholly-owned subsidiary of Covanta Holding Corporation
(NYSE:CVA), in order to cooperate in the development and operation of
large-scale, waste-to-energy projects. Through this cooperation, ZhongDe
enhances its technical and investment capabilities in the development and
operation of large-scale waste-to-energy projects in both, the domestic and
international markets.
ZhongDe and Covanta have agreed that they shall collaborate and work
closely with one another for the purpose of pursuing certain projects.
ZhongDe shall have primary responsibility for cultivating the projects and
the EPC (engineering, procurement and construction) of the projects.
Covanta has agreed to provide technical support to those projects.

Covanta is an internationally recognized owner and operator of
waste-to-energy projects and is presently developing projects in China as
well as in the USA and Europe.
Zefeng Chen, founder and CEO of ZhongDe Waste Technology AG, explains: 'We
are happy to have established this cooperation with such a recognized
partner as Covanta Energy Asia Pacific Holdings Ltd. for large scale waste
incineration projects combined with electricity generation. This allows
both partners to optimize the development and operation of large-scale
waste-to-energy projects and therefore increase the revenues and profits
for the shareholders of the two publicly listed companies.'

About ZhongDe Group
ZhongDe Group designs, manufactures and installs pyrolytic, grate and
rotary kiln waste incinerators for the disposal of solid municipal,
industrial (including hazardous) and medical waste, as well as complete
sets of incineration plants with electricity generation. Since 1996,
ZhongDe Group has installed approximately 200 waste incinerators in about
13 provinces and more than 80 waste incinerators in the last three
financial years alone. Its waste incinerators are principally constructed
for Chinese cities in developed areas of the People's Republic of China, as
well as for operators of medical disposal centers in the hospital and
healthcare industry. ZhongDe Group is one of the leading players of solid
waste incinerators and waste-to-energy plants in China, supplying
state-of-the-art products and advanced waste-to-energy technology.
About Covanta Energy Asia Pacific Holdings Ltd.

Covanta Energy Asia Pacific Holdings is a wholly-owned subsidiary of
Covanta Holding Corporation (NYSE:CVA), an internationally recognized owner
and operator of large-scale Energy-from-Waste and renewable energy projects
and a recipient of the Energy Innovator Award from the U.S. Department of
Energy's Office of Energy Efficiency and Renewable Energy. Covanta
Holding's 44 Energy-from-Waste facilities provide communities with an
environmentally sound solution to their solid waste disposal needs by using
that municipal solid waste to generate clean, renewable energy. For more
information, visit www.covantaholding.com.

William Jiuhua Wang
Executive Director and CFO
E-Mail : William.jw@zhongdetech.com

Li Zhong (Linda)
Investor Relations Manager
Stadthausbrücke 1-3
20355 Hamburg
Tel: +49 40 37644 756
Fax: +49 40 37644 500
E-Mail: li.zhong@zhongde-ag.de

07.09.2009 Financial News transmitted by DGAP

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Language: English
Company: ZhongDe Waste Technology AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 745
Fax: +49 40 37644 500
E-mail: cornelia.dieker@zhongdetech.de
Internet: www.zhongdetech.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart

End of News DGAP News-Service

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