China Power Equipment Inc. ("China Power Equipment" or the "Company," OTCBB: CPQQ), a leading manufacturer of a new generation of energy saving amorphous alloy transformer cores and transformers in China, today announced that the Company has shipped its product to a top energy corporation in China to be tested for its application in energy production areas and the product passed the test.
The recent shipment is for the test of the Company's energy saving solutions at the oil production sector which is conducted at one of the biggest oil fields in China. The testing run constitutes a national project of a top Chinese energy corporation to evaluate application of the Company's solution in its production.
"Driven by fast increasing energy prices and rising emphasis of energy saving initiatives by Chinese government and social awareness, the demand for energy saving solutions is significantly growing in industrial sectors in China. We believe this creates a large and fast growing but less competitive potential market for our proven energy saving technologies for specialty customer market aside from our traditional grid customers," said Mr. Song, Chairman, CEO, and President of China Power Equipment, "The Company has committed dedicated efforts into the research and development of ad hoc solutions for the market and sees promising response for the efforts. We believe the energy production and resource exploration sectors will be one of the biggest users of amorphous technology in the future."