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SOURCE L & L Energy, Inc.
SEATTLE, Oct. 15, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the Company"), a U.S.-based company with profitable energy (coal) operations in China, and seeking to expand into China's clean and environmental initiatives, is pleased to announce entry into an agreement with WanYuan Environmental Protection Ltd. ("WanYuan") for broad based business initiatives. WanYuan is a Chinese sewage treatment company with a track record of over ten years of experience and processing capacity approximating 200 thousand tons per day. WanYuan seeks to expand into clean energy initiatives while also raising its capacity to 500 thousand tons per day. L&L intends to partner with WanYuan to assist their growth through a combination of access to the China Low-Carbon Industry Investment Center ("CLCIIC"), western-style management, and fund raising from Chinese banks and international sources.
Dickson Lee, Chief Executive Officer of L&L Energy Inc., commented, "L&L put an early emphasis on coal washing, which has reduced sulfur and other emissions in the regions we operate. We look forward to applying those same principles with the CLCIIC project and WanYuan. As China continues to put more emphasis on clean energy and renewables, we believe WanYuan's model for leveraging China's need for renewable sewage facilities will be an attractive opportunity for us and our partners moving forward. This is a strong but measured first step in increasing our footprint in the industry and bringing value to our CLCIIC relationship."
Haichao Wang, Chief Executive Officer of WanYuan, added, "L&L is the perfect partner for us as we expand beyond environmental remediation and into cleaner energy sources. L&L's business relationships and US expertise will enable both companies to capitalize on exciting new market opportunities."
Caution Regarding Forward Looking Statements
The release contains statements related to Company's future performance and is within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve uncertainties and actual results of the future events described in this release could differ materially. Other than as required under the securities laws, the Company does not assume a duty to update these forward looking statements.
For more information, please contact:
L&L Energy, Inc.
+1 (206) 264-8065
Gary Dvorchak, CFA
Senior Vice President
U.S.: +1 (310) 954-1123
China: +86 (10) 6583-7528
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