BEIJING , Jan. 5, 2012 /PRNewswire-Asia-FirstCall/ — Tri-Tech Holding Inc. (Nasdaq: TRIT – News), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that it secured a $ 1.5 million strategic collaboration agreement with Wuhan Natural Gas High-Pressure Pipeline Co. (“NGHP”). The agreement between NGHP and Tri-Tech Holding’s affiliate, Beijing Satellite Science & Technology Co., Ltd. (“BSST”), outlines a framework for an automated control system for natural gas plants, terminal stations and distribution pipelines in the city of Wuhan , Hubei Province .
Under the terms of the agreement, BSST will implement communication systems projects in Wuhan , including Supervisory Control and Data Acquisition, Distributed Control System and Emergency Shutdown Device, which will enable data communications among key facilities such as plants, monitoring stations, control centers, valve chambers, and reservatories for liquefied natural gas. The scope of services also includes an improvement to software interface with customer specifications, an integration of related systems, the procurement of equipment, a series of training, systems delivery and installations, as well as testing and commissioning of the systems. All the projects and services stated in the agreement will be completed by May 2013 .
Mr. Gavin Cheng , President of Tri-Tech Holding Inc., commented, “The automated control system tailored for the natural gas distribution network will provide a solution to ensure a safe and reliable operation of the natural gas pipeline network in Wuhan . With its advanced software and hardware, the system can be used to monitor the operations of natural gas stations and networks to improve overall network efficiency. In addition to improving safety and network efficiency, the system can also optimize scheduling of gas distribution to avoid imbalances between gas supplies and demands, thereby reducing waste and saving money.
Mr. Warren Zhao , CEO of Tri-Tech Holding said, “We are pleased with BSST’s successful move into the urban natural gas distribution infrastructure market while continuing to expand its business in safety controls in the fields of oil and natural gas production. The urban natural gas distribution pipeline network is growing both in capacity and complexity. It has become imperative to enforce safety controls to prevent accidents and fatalities caused by gas leakage or explosions in the distribution network. The deployment of automated systems for the natural gas distribution network will be key to safety control in urban infrastructure construction. Tri-Tech Holding will continue to focus on market trends and opportunities in this sector through BSST. “
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in China and international markets. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the Chinese government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 27 software copyrights and six technological patents, and employs 300 people. Please visit http://www.tri-tech.cn for more information.
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This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of the project referenced herein and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Investor Relations Contact:
Mr. Craig T. Stewart
North Coast Advisors Inc.
+1 (585) 388-3340