AuraSource Forms Strategic Partnership With Xinxing Cathay International Group | 2012-09-07
CHANDLER, AZ -- AuraSource, Inc. (OTCQB: ARAO) (OTCBB: ARAO), a developer of hydrocarbon clean fuel and mineral material beneficiation technology, today announced that it has formed a strategic partnership with China Xinxing Cathy International Group ("Xinxing Group"), a Global 500 largest company, to joint research and develop ultra-low ash coal, import iron ore and process minerals. As part of the strategic partnership cooperation, AuraSource also entered into a joint development agreement with Xinxing Ductile Iron Pipes Co., Ltd. ("Xinxing Pipe") for a larger capacity slurry particles centrifugal separator. Xinxing is one of the largest producers of ductile cast iron pipes and steel gratings in the world. Xinxing will use this technology for pre-combustion ash removal and hematite beneficiation for their production of steel.
Mr. Guo Shijin, the First Vice President of Xinxing Group, stated, "Xinxing Group has a strong research and development capacity to apply to a centrifugal separator system design and manufacturing, we are strongly interested in AuraSource's ultra-low ash coal processing technology and its applications for steel industry."
Philip Liu, AuraSource's CEO, stated, "AuraSource and Xinxing have complementary advantages. AuraSource has its ultra-low ash coal technology and Xinxing Group has strong R&D resources and financial strength. This helps AuraSource speed up its technology commercialization and further market it worldwide. By partnering with Xinxing Group, AuraSource will have a long term mineral product export contract, strong R&D resources and speedy industrial marketization."
About Xinxing Group
Xinxing Cathay International Group Co., Ltd., (Xinxing Group) is a large scaled solely state-owned company dealing with assets management, capital operation and production management. Its main products include ductile cast iron pipes, pipe fittings, steel gratings, steel, engineering machineries, special and dedicated vehicle modification, oil equipment, textile, garments, dyeing and finishing, leather and leather shoes, rubber products, equipment and etc. At the time being, Xinxing Cathay International Group is a fabrication, research and development foundation for ductile iron pipes, whose comprehensive strength and technical level is in leading position and output and sale volume is the highest in the world. It is also the largest development base for steel grating in China and a state level innovative enterprise.
For more information on Xinxing Group, please visit http://english.xxcig.com
About Xinxing Pipe
Xinxing Ductile Iron Pipes Corp is a public company founded and controlled by Xinxing Group. Xinxing's main business consists of ductile cast iron pipes and iron/steel pipe fittings, iron and steel melting and stretching, composite pipes, steel gratings etc. The production capacity of Xinxing's ductile cast iron pipes and steel gratings ranks the first place in the world. It owns self-developed intellectual property; for instance, the technology used for the special steel products pioneers internationally and filled the world gaps. The major economic and technical index of Xinxing's production processes lead in the overall sector in China.
For more information on Xinxing, please visit http://www.xinxing-pipes.com/
AuraSource, Inc. is focused on the development and production of environmentally friendly and cost effective industrial energy sources and feedstock used for industrial applications. AuraSource's core technology includes ultrafine grinding and impurities removal processes. Initial industrial applications of AuraSource technology are ultra-fine coal water mixture for heavy oil substitution, and low grade iron ore fine and slimes beneficiation.
For more information about AuraSource, please visit www.aurasourceinc.com.
SAFE HARBOR STATEMENT
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. AuraSource has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect AuraSource's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause AuraSource's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. AuraSource undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.