April 22, 2010 (FinancialWire) — China Recycling Energy Corp. (NASDAQ: CREG), an industrial waste-to-energy solution provider in China, said that the second expansion of the Low Carbon Fortune-Energy Recycling No. 1 Collective Capital Trust Plan has been completed by Beijing International Trust Co., Ltd. on April 15.

According to China Recycling, the second expansion of the plan raised 93.12 million yuan (around US$ 13.69 million) through the sale of 93.12 million trust units sold at one yuan per unit.

The company said that all amounts raised under the second expansion are to be loaned to Erdos TCH Energy Saving Development Co., a joint venture between Xi'an TCH Energy Technology Co., Ltd., a subsidiary of China Recycling Energy, and Erdos Metallurgy Co., Ltd.

The loan is a part of the capital trust loan agreement entered into by Erdos TCH and Beijing Trust on November 19, 2009, effective as of December 3, 2009.

With the completion of the second expansion, the Low Carbon Fortune-Energy Recycling No. 1 Collective Capital Trust Plan has reached 300 million yuan (around US$ 44,117,647 million) and completed its trust plan capital raising.

China-based China Recycling Energy provides waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China.

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