NF Energy Saving Corp. Announces Contract with Fuxin HF Bio-energy Development Company

SHENYANG, Liaoning, China, Sept. 14 /PRNewswire-Asia/ -- NF Energy Saving Corp. (OTC Bulletin Board: NFEC) ("NF Energy" or the "Company"), a leading energy saving services provider for China's power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries, today announced that it has signed a contract for work on an energy saving project with Fuxin HF Bio-energy Development Company.

NF Energy expects to generate U.S. GAAP revenue of RMB 6 million (U.S. $882,000) from the contract, all of which will be recorded in the fourth quarter of 2010. Pursuant to the contract, NF Energy will provide technical consultancy and project design, including equipment set up and testing.

The project will help 800 households in the Fuxin Mongolian Autonomous County of Liaoning province China upgrade their energy system by transitioning to a clean energy source that will use crop waste and straw. The principal objective of the project is to develop bio-fuels to replace the previous coal powered energy source, reducing coal utilization by 15,000 tons per year thereby lowering environmental pollution.

Fuxin HF Bio-energy Development Company, a subsidiary of HF Bio-energy Group, is primarily in the business of bio-fuel production and coal-fired boiler reconstruction, which involves transforming traditional small coal- fired plants to bio-powered plants to generate heat and power.

"We are excited about this project as it represents the first opportunity for NF Energy to expand its business in the bio-energy industry," noted Mr. Gang Li, NF Energy's CEO. "With great support by the Chinese government on the use of renewable energy and energy conservation, NF Energy will continue to explore opportunities in this space, further diversifying our business mix."

About NF Energy Saving Corporation

NF Energy Saving Corporation (OTCBB: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit http://www.nfenergy.com .

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    For more information, please contact:

    Company Contact:
     Ms. Lihua Wang, Director & CFO
     NF Energy Saving Corp.
     Tel:   +86-24-8563-1159
     Email: [email protected]
     Web:   http://www.nfenergy.com

    Investor Relations Contact:
     Mr. Mark Collinson, Partner
     CCG Investor Relations
     Tel:   +1-310-954-1343
     Email: [email protected]
     Web:   http://www.ccgirasia.com

SOURCE NF Energy Saving Corporation

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