TORONTO, April 26, 2024 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) ("CF Energy" or the "Company", together with its subsidiaries, the "Group" or "China"), a leading clean energy service provider in the People's Republic of China (the "PRC") wishes to provide an update on the following:
Incorporate Electrochemical Storage technology into Energy Solutions Services
In the first quarter of 2024, CF Energy has successfully incorporated electrochemical storage technology into its battery swap station, which will help reduce the cost of service for the battery swap stations and further lowered the carbon footprint of the operation.
CF Energy entered into a letter of intent to jointly invest in regional electrochemical energy storage and peak sharing stations
CF Energy has engaged in a letter of intent with the Zi Gong, Gongjin District government in Sichuan province to jointly plan the investment in regional electrochemical energy storage and peak sharing stations (virtual power plants) and industrial and commercial energy storage projects, as well as the construction of regional energy storage stations and industrial and commercial energy storage facilities. Based on actual conditions such as urban planning, land use, power grid structure, and market demand, a layout plan for regional energy storage stations and industrial and commercial energy storage facilities will be formulated.
Purchase of bio-gas
In the first quarter of 2024, CF Energy signed a letter of intent to purchase bio-gas to further de-carbonize its overall natural gas distribution business of operations.
RMB36 million Loan Discharge Agreement Dispute
The Company wants to update on the status of its efforts to enforce its rights under the terms of the Loan Discharge Agreement dated May 25, 2017 among the Company, Sanya Changfeng Offshore Natural Gas Supply Co., Ltd. ("CF China") and Mr. Huajun Lin ("Mr. Lin") to require the estate of Mr. Lin (the "Estate") to invest an aggregate amount of RMB 36,000,000 in common shares of the Company (the "Investment") at a price of C$0.68 (being the 30 day volume weighted average trading price of the common shares of the Company preceding June 28, 2019).
On June 21, 2021, the Company together with CF China filed a contract dispute case (the "Claim") against the Estate in the Sanya Intermediate People's Court, Sanya City, Hainan Province, China (the "Sanya Court") to enforce the execution of the Loan Discharge Agreement and the Investment. The Sanya Court declined to take jurisdiction over the dispute. The Company appealed from that decision to the Hainan Provincial High People's Court, which dismissed the Company's appeal on September 5, 2022. The Company applied for a retrial on the basis of new evidence, and this application was rejected on February 24, 2023. On October 30, 2023, the Company filed the Claim in the Sanya Suburban People's Court. The Claim was dismissed by the Sanya Suburban People's Court on December 7, 2023.
A beneficiary of the Estate (Mingfei He) applied to the court in China for distribution of certain funds from the Estate. The court approved the distribution of funds to Mingfei He and other beneficiaries. The Company is exploring its options, if any, to compel the return of all funds distributed to the beneficiaries of the Estate so that the Estate can comply with the Loan Discharge Agreement. If no reasonable options are available to the Company, the Company will cease to pursue enforcement of the Loan Discharge Agreement.
多倫多，2024年4月26日（GLOBE NEWSWIRE）——中華人民共和國（“中國”）領先的清潔能源服務提供商長富能源公司（TSX-V：CFY）（“CF Energy” 或 “公司”，連同其子公司 “集團” 或 “中國”）希望提供以下最新信息：
將電化學存儲技術整合到能源解決方案服務中
在2024年第一季度，CF Energy已成功將電化學存儲技術納入其電池交換站，這將有助於降低電池交換站的服務成本，並進一步降低運營的碳足跡。
CF Energy簽訂了共同投資區域電化學儲能和峯值共享站的意向書
CF Energy已與四川省貢津區政府自貢簽訂了意向書，共同規劃對區域電化學儲能和峯值共享站（虛擬發電廠）和工業和商業儲能項目的投資，以及區域儲能站和工商業儲能設施的建設。將根據城市規劃、土地利用、電網結構和市場需求等實際情況，制定區域儲能站和工商業儲能設施的佈局規劃。
購買生物氣
2024年第一季度，CF Energy簽署了一份購買生物氣的意向書，以進一步實現其整體天然氣分銷業務的脫碳運營。
RMB36 百萬美元貸款解除協議爭議
公司希望了解其根據2017年5月25日與三亞長豐海上天然氣供應有限公司（“CF 中國”）和林華軍先生（“林先生”）簽訂的2017年5月25日貸款解除協議條款執行其權利的最新情況，該協議要求林先生（“財產”）的遺產將總額爲人民幣36,000,000元人民幣的普通股（“投資”）”）的價格爲0.68加元（即2019年6月28日之前公司普通股的30天成交量加權平均交易價格）。
2021年6月21日，公司與CF China一起向中國海南省三亞市三亞市三亞中級人民法院（“三亞法院”）提起了針對該遺產的合同糾紛訴訟（“索賠”），以強制執行貸款解除協議和投資。三亞法院拒絕對該爭議行使管轄權。該公司就該決定向海南省高級人民法院提出上訴，海南省高級人民法院於2022年9月5日駁回了公司的上訴。該公司根據新的證據申請重審，該申請於2023年2月24日被駁回。2023年10月30日，公司向三亞郊區人民法院提起索賠。該索賠於2023年12月7日被三亞郊區人民法院駁回。
遺產受益人（何明飛）向中國法院申請分配遺產中的某些資金。法院批准向何明飛和其他受益人分配資金。該公司正在探索其備選方案（如果有），以強制退還分配給遺產受益人的所有資金，以便遺產能夠遵守貸款解除協議。如果公司沒有合理的選擇，公司將停止執行貸款解除協議。
