Lars Guldstrand, chairman of EcoEnergy, said: “For EcoEnergy, this is an important milestone in building a strong player within waste-to-energy. Recently, we have started to build our first waste-to-energy facility in Ukraine and we have acquired Swedish KMW Energi with presence on the important US market. With the Changzhou Xinbei and Jiangsu Guoyu Electric agreement, we are about to enter the fastest growing energy market in the world.”

In the MoU, Changzhou Xinbei government expresses support for EcoEnergy to invest and build a waste-to-energy facility. It is also willing to team up with Ecoenergy and set up a joint venture waste-to-energy facility in Changzhou Xinbei district, and to assist EcoEnergy to communicate and facilitate in China. EcoEnergy will conduct on-site feasibility study for the project. If the results from Xinbei waste-to-energy project feasibility are proved to be feasible, all parties will start work on finalizing commercial terms for the project as soon as possible.