Beijing Shenwu Thermal Energy Technology Co., Ltd.

completed

The IFC investment is to support the expansion plan of Beijing Shenwu Thermal Energy Technology Co., Ltd. (“Shenwu” or the Company”) in the next 3-5 years. The specific operating entities receiving IFC funds will be Shenwu (the holding company), Hubei Shenwu and Beijing Huafu (two of Shenwu’s wholly owned subsidiaries). The use of proceeds (‘the Project’) will be to finance the Company’s expansion plan, which comprises (i) the expansion of the Company’s facilities in Beijing and Hubei; (ii) development of High Temperature Air Combustion (HTAC) applications for more industries; (iii) R&D; and (iv) marketing and business development. Beijing Shenwu Thermal Energy Technology Co., Ltd. (“Shenwu” or the “Company”) is a privately held Chinese company established in 1995 in Beijing that designs, manufactures and installs HTAC equipment and systems. Applications of HTAC technology are designed to provide energy-saving and emission reduction solutions for many energy-intensive industries, which in China means they are directly or indirectly heavy consumers of fossil fuel. According to the Company, its HTAC systems improve fuel efficiency by 5-50%, depending on application, and reduce carbon emissions by up to 30%. The founder and Chairman of Shenwu is Dr. Wu Daohong, a pioneer in HTAC technology in China. Dr. Wu is the originator of HTAC technology in China and holds 17 national patents related to HTAC technology.