May 28, 2009 (FinancialWire) — SmartHeat Inc. (NASDAQ: HEAT) (Current Market Cap: US$165.63 Mil.) said it has won a $3 million contract with a Chinese municipality to supply energy savings equipment to the Inner Mongolia regions in China.

The company’s equipment will be installed to improve heat energy efficiency and reduce CO2 emissions that provide heating in around 60,000 households within the municipality.

New York-based SmartHeat has its primary operations in China. The company manufactures standard plate heat exchangers, custom plate heat exchanger units and digital heat meters.

SmartHeat’s energy savings products are designed to address air pollution problems in China, where coal burning for cooking and heating purposes is the only source of economical heat energy in the country.

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