ReTo Eco-Solutions Subsidiary Begins Construction of New Xinyi City Waste Treatment Center
ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced the commencement of construction for a new waste treatment center in Xinyi City, following delays due to COVID-19. The facility aims to process over 600,000 tons of construction waste annually, contributing to sustainability efforts by recycling waste into eco-friendly products. This project, initiated under a 5-year agreement with the Xinyi Municipal Government, aligns with ReTo's mission to enhance ecological environments. The Chairman emphasized the importance of solving ecological issues while ensuring returns for the community and clients.
- Construction of a new waste treatment center in Xinyi City expected to process over 600,000 tons of construction waste annually.
- Alignment with government sustainability goals enhances the company's reputation and investment potential.
- Utilization of proprietary technologies promotes recycling and creates eco-friendly construction materials.
- Previous construction delays due to the COVID-19 pandemic may impact project timelines.
- Dependence on future demand for recycled materials poses risk.
BEIJING, Sept. 4, 2020 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (the "Company," "we" or "ReTo") (NASDAQ: RETO), a one-stop, total technology solutions provider for the healthy improvement of ecological environments, today announced that its subsidiary, Xinyi REIT New Material Co., Ltd., has officially commenced construction of a new Xinyi City waste treatment center. ReTo reached an agreement in 2019 with the Xinyi Municipal Government for the project, however, construction of the urban waste treatment facility was delayed due to the COVID-19 pandemic. Xinyi City has consistently ranked in the Top 100 high-quality development index of China's small and medium sized cities for its comprehensive economic strength, green development, investment potential and technological innovation.
Under the 5 year agreement, in addition to design, engineering and construction, ReTo will also use its proprietary technologies and handling systems to promote the goal of reducing, recycling and reusing construction waste in the urban area of Xinyi City. This will include leveraging the Company's technical expertise and integrated production equipment, to recycle solid waste into environmentally-friendly paving products, such as pavement bricks, grass-planting bricks, curb stones, imitation stones. Upon completion, it is estimated that the annual processing volume of construction waste will exceed 600,000 tons.
Mr. Li Hengfang, ReTo's Chairman and Chief Executive Officer, commented, "ReTo's priority is to solve ecological problems, to improve the living environment for residents, and then to provide technical expertise to ensure the greatest return. Our focus on improving the environment through sustainable development, directly aligns ReTo with our customers and the communities they serve. We are excited to start construction on this latest project because it showcases the full breadth of services we offer and illustrates how we can help customers to achieve their environmental goals. We expect the final product of our Xinyi City waste treatment center will be widely used in municipal engineering, road construction, garden landscape, water conservation slope protection and other urban construction, underscoring the sustainable environmental systems and solutions we are developing as we work to achieve a waste-free city."
About ReTo Eco-Solutions, Inc. (NASDAQ: RETO)
Founded in 1999, ReTo (NASDAQ: RETO) is a leader in ecological innovation, with sustainable environmental priorities and seeks to empower communities through its proprietary technologies, systems and solutions, which have been used to bring clean water and fertile soil to villages and cities worldwide. The Company is founded on its strategy of Technology Improves Ecology and is a full spectrum provider of products and services, ranging from the production of environmentally-friendly construction materials, environmental protection equipment and manufacturing equipment used to produce environmentally-friendly construction materials, to project consulting, design and installation for the health and improvement of ecological environments, such as ecological soil restoration, through solid waste treatment. For more information, please visit: http://en.retoeco.com
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding: 1) its ability to assist in environmental protection; 2) its ability to complete the construction of the waste treatment facility; and 3) its ability to use solid waste as resources and create construction materials are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of construction and ecological solutions in China and internationally; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and internationally and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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SOURCE ReTo Eco-Solutions, Inc.
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