SHENZHEN, China, June 27, 2024 (GLOBE NEWSWIRE) -- CDT Environmental Technology Investment Holdings Limited (NASDAQ: CDTG) ("CDT"), a leading provider of waste treatment systems and services throughout China, announces the signing of a strategic cooperation framework agreement with a local high-tech company in Fujian Province. The collaboration leverages the complementary strengths of both parties, with CDT contributing its government relations, brand advantages, and expertise in waste treatment solutions, while the partner contributes its local experience and crucial pipeline inspection data. The result is anticipated to be a greatly enhanced service platform, with greater access to a broader market, and advancements to the company's competitive position in the South China region and beyond. The initial term is set for three years, with the option to renew upon mutual agreement.
This partnership is built on the foundation of the partner company's extensive pipeline inspection work. In 2023, they completed the investigation and mapping of over 4,000 kilometers of sewage pipelines in Fujian Province, amassing a wealth of critical infrastructure data. Under this agreement, CDT will receive real-time access to valuable pipeline data, that will allow CDT to access the comprehensive knowledge base of current infrastructure conditions accumulated by the partner, develop targeted, efficient solutions for potential projects, engage proactively with government entities on upcoming water treatment needs, and position itself strategically for future contract opportunities in municipal pipeline maintenance, dredging, and sewage treatment.
"Our partner's extensive experience in pipeline inspection and their accurate, comprehensive data will provide a strong foundation for our cooperation," said Li Yunwu, CEO of CDTG. "This partnership allows us to better understand infrastructure needs and provide more targeted, efficient solutions for our customers in this large market that is estimated to be approximately $20 billion per year. Adhering to the principles of complementary advantages and mutual benefits, we look forward to contributing to water environmental protection efforts in Fujian and potentially nationwide."
To ensure smooth implementation, the partnership will establish a joint working group to clearly define responsibilities and promote progress. The two parties will carry out comprehensive cooperation in areas such as municipal pipeline inspection, dredging maintenance, and sewage treatment. Market observers generally look forward to this cooperation, anticipating that CDT will further enhance its market competitiveness by leveraging its partner's technical expertise and local experience.
About CDT Environmental Technology Investment Holdings Limited
CDT, headquartered in Shenzhen, China, is a leading national player in China's waste treatment sector that designs, develops, manufactures, sells, installs, operates and maintains sewage treatment systems and provides sewage treatment services in China, and is dedicated to promoting sustainable development through innovative solutions. Founded by pioneers in waste treatment, CDT aims to advance next-generation technologies that directly address environmental challenges and promote sustainable solutions. CDT is a recognized brand in China and is committed to innovation and customer satisfaction.
CDT’s mission is to help its customers achieve their critical infrastructure objectives while enabling positive change in technological environmental protection. It collaborates with industry leaders, environmental experts, and stakeholders to develop and implement advanced waste treatment solutions. Recently listed on the Nasdaq Capital Market, CDT is a prominent player in the waste treatment market, capable of providing comprehensive solutions to diverse customer needs, and has completed more than 150 plants across China.
For more information, visit CDT’s website at https://www.cdthb.cn.
Forward Looking Statements
This press release contains forward-looking statements that are based on the beliefs and assumptions of the management of CDT and on information currently available to such management. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond CDT’s control. Words such as “will,” “future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. All statements, other than statements of historical fact, contained in this press release, including statements regarding future events, future financial performance, business strategy and plans, and objectives of CDT for future operations, are forward-looking statements. Although CDT does not make forward-looking statements unless it believes it has a reasonable basis for doing so, CDT cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievements of CDT and its markets to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on any forward-looking statement. CDT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Investor and Media Contact
United States
Core IR
Peter Seltzberg, SVP Investor Relations and Corporate Advisory
investors@cdthb.cn
212-655-0924
www.CoreIR.com
