ECOWISE BIOMASS CO-GENERATION PLANT IN WUHAN, CHINA, TO USE VYNCKE S CLEAN COMBUSTION TECHNOLOGY

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1 17, Kallang Junction, #04-03 Singapore Tel: Fax: Website: PRESS RELEASE ECOWISE BIOMASS CO-GENERATION PLANT IN WUHAN, CHINA, TO USE VYNCKE S CLEAN COMBUSTION TECHNOLOGY The signing ceremony for the initial procurement contract of Vyncke s clean combustion equipment for ecowise Wuhan biomass co-generation plant in Wuhan, China, was witnessed by H.E. Xi Jinping, Vice President of People s Republic of China and Mr Herman Van Rompuy, Prime Minister of Belgium Using Vyncke s clean combustion technology, ecowise aims to optimise the combustion of a wide variety of biomass feedstock which will lead to higher efficiency, better reliability and flexibility, lower emission for this Wuhan biomass co-generation plant Beyond this initial contract, both ecowise and Vyncke intend to extend their technological and operational collaboration into China and South East Asia where the potential for biomass plants and business are immense Singapore, 28 October 2009 Mainboard-listed ecowise Holdings Limited ( ecowise or together with its subsidiaries the Group ), an integrated environmental solutions provider, announces that its joint-venture company, Wuhan ecowise Energy Co., Ltd ( Wuhan ecowise ) has recently entered into an equipment procurement and supply contract for clean combustion technology with Belgian clean energy company, Vyncke Energietechniek NV ( Vyncke ), for its 25 MWH biomass co-generation plant in Wuhan Peoples Republic of China.

2 The signing ceremony for the procurement contract was held on 7 October 2009 at Hertoginnedal, Brussels and was witnessed by H.E. Xi Jinping, Vice President of the People s Republic of China and Mr Herman Van Rompuy, Prime Minister of Belgium. Mr Daniel Liao, Director of Wuhan ecowise Energy Co., Ltd, signing the procurement contract with Mr Dirk Vyncke, Chairman of Vyncke Energietechniek NV, in the presence of H.E. Xi Jinping, Vice President of the People s Republic of China and Mr Herman Van Rompuy, Prime Minister of Belgium. Wuhan ecowise Energy Co., Ltd (a joint venture between ecowise Energy Pte Ltd and Wuhan Jiabao Sugar Co., Ltd) is in the midst of converting its current

3 coal-fired power plant to a 25 MWH biomass co-generation power plant running on a variety of biomass materials. The procurement of Vyncke s Clean Combustion Technology is timely. The next generation of biomass power generation plants needs to be more flexible in biomass inputs, have higher combustion efficiency, lower emissions and better reliability. I am pleased that we have found the right partner to deliver a top-grade biomass co-generation plant in Wuhan Mr Lee Thiam Seng, Chairman and CEO of ecowise remarked. Taking Vyncke s Clean Combustion Technology into PRC and South East Asia Beyond the current procurement contract, ecowise and Vyncke intends to jointly explore new business opportunities. ecowise intends to leverage on its familiarity with renewable energy opportunities and experience in managing biomass cogeneration plants in the PRC and South East Asia, while seeking to equip biomass power plants in these regions with Vyncke s clean combustion technology. Stating the objectives of this future partnership, Mr Dirk Vyncke, Chairman of Vyncke said The ecowise Vyncke alliance contains all the ingredients for growth, in terms of combining better technology with good track record in operational management. Both partners share a long term vision of achieving true operational reliability and the flexibility in utilizing wide range of biomass feedstock. The alliance aims to become amongst the top players in China for biomass power generation. China and indeed most of Asia have begun taking the lead on renewable energy issues. China intends to have 15% of its power generation from renewable sources such as wind, solar, biomass and hydropower by The reduced dependency on coal-fired power plants will widen our potential

4 scope for new businesses. Therefore, I very much look forward for this initial procurement contract to set the stage for a more in-depth collaboration between ecowise and Vyncke. Mr Lee Thiam Seng concluded. - The End Issued on behalf of ecowise Holdings Limited by Cogent Communications Pte Ltd Tel: (65) , Fax: (65) Ms Liew Shi Wei, shiwei@cogentcomms.com (DID: ; Mob: ) Mr Neo Aik Kee, aikkee@cogentcomms.com (DID: ; Mob: ) Mr Roger Poh, roger@cogentcomms.com (DID: ; Mob: ) About ecowise Holdings Limited ecowise Holdings Limited ( ecowise or together with its subsidiaries the Group ) is an integrated environmental solutions provider and is principally involved in two major business segments namely, the recovery of industrial waste and the generation of renewable energy. Under the industrial waste recovery segment, the Group is an appointed clearing contractor of used copper slag and general waste for certain major shipyards and fabrication yards in Singapore. The used copper slag is then processed and sold to contractors and companies largely dealing in abrasives and surface treatment. A large part of the off-take for recycled copper slag is sent to ready mix concrete suppliers to be mixed into eco-concrete. In its renewable energy segment, the Group currently operates a biomass cogeneration plant which supplies heat energy to a number of industrial users. It became the first Singapore registered company to successfully secure the sale of Certified Emission Reduction certificates (or CERs, commonly referred to as Carbon Credits) on 5 November The CERs, which will be sold to with Kansai Electric Co Inc, a leading electric power company in Japan, will be generated from ecowise s Clean Development Mechanism project which involves drying of waste, such as spent grains from breweries, and heating of ISO tanks by using waste steam generated from its biomass cogeneration plant. In its recent move to accelerate the growth of its renewable energy segment, the Group entered into a joint-venture in Wuhan, PRC. The joint-venture has acquired a coal-fired power plant and is currently in the process of converting it into a bio-mass cogeneration plant. About Vyncke VYNCKE Energietechniek is a 4 th generation global family business with its roots in Belgium and today locally organized with over 220 enthusiastic Vynckeneers in Brazil, Canada, Belgium, Germany, Czech Republic, India, Malaysia, Thailand and China. Today VYNCKE has close to 4,000 references worldwide.

5 VYNCKE designs and builds energy plants that produce green and clean energy burning biomass and Solid Recovered Fuel to produce thermal energy from 1 to 100 MWth and electrical output from 0.5 to 25 MWe. The energy plants come in the form of steam boilers, hot water heaters, thermal oil heaters and hot gas generators ; individually or in any combination with or without electrical power generation. As a leading global engineering and construction company, VYNCKE provides solutions to the wood industry, the agro and food industry and to renewable energy companies. VYNCKE specialises in tough criteria : difficult fuels, fuel flexibility, strict emissions, high availability, and a low total cost of ownership. Studying the process and the fuel is the essential first step VYNCKE undertakes, before designing a solution. VYNCKE and its partners worldwide offer project studies, conceptual and preliminary engineering, detailed engineering, design, procurement, construction, installation, commissioning and after sales service. VYNCKE also has the ability to assist in the maintenance and operations of its customers plants, to attain maximum output, efficiency and availability. Vyncke s Clean Combustion Technology Vyncke s Clean Combustion Technology is essentially the customization of the biomass power plant equipment to enhance combustion efficiency, lower emissions and enable biomass power plants to efficiently process a wide variety of biomass feedstock. The technology is critical in addressing one of the key challenges of wide range of biomass feedstock needed to power most scalable biomass power plants. Each biomass feedstock comes with its own combustion behavior and the use of a wide range of biomass will affect the performance of the combustion system, but restricting the variety of biomass feedstock will leave the operator vulnerable to the fluctuations in the market prices of feedstock used. To maximize the efficiency, flexibility, low emissions and reliability from use of a wide variety of biomass stock, better combustion technology comprising of high versatile furnace is needed. Vyncke Energietechniek is a 4 th generation family business founded in 1912 and today locally organized in Brazil, Canada, Belgium, Germany, Czech Republic, India, China, Thailand and Malaysia. With 220 personnel worldwide, Vyncke has over 50 million Euros in annual turnover. Vyncke builds biomass fired energy plants from 1 to 100 MW th and power plants from 500 KW e to 25 MW e. As a leading global engineering and construction company, Vyncke provides energy solutions to MDF-industry, the sunflower industry, the palm oil industry, the coffee industry, the rice industry, and to renewable energy companies.