Shenzhen Sunrise New Energy to Launch Joint Venture for Coal Mine Gas Cleanup

MT Newswires Live

Nov 10

Shenzhen Sunrise New Energy (SHE:002256) signed an agreement with Zhejiang YiYang Energy Technology to establish a joint venture focusing on destroying low-concentration coal mine gas and utilizing the waste heat.

Joint venture ZhaoYi Carbon Synergy Energy Technology will have a registered capital of 10 million yuan, with Shenzhen Sunrise New Energy holding a controlling 55% stake.

ZhaoYi Carbon Synergy Energy Technology's primary project will be the Qianjiaying coal mine low-concentration gas utilization project, with a total investment of up to 110 million yuan.

Shares of Shenzhen Sunrise New Energy closed 10% higher Monday.

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