Do You Know Why CN Energy (CNEY) Stock Jumped 4% During After-Hours Trading On Friday?

After making a significant move, CN Energy Group Inc. (NASDAQ: CNEY) shares increased 4.05% to $0.77 on Friday.

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What move has CNEY made?

After successfully completing all acceptance checks on design requirements and passing all tests for safety, efficiency, and reliability, CN Energy (CNEY) recently announced that its 6th-generation gasification reactors (FLS-VI) have been formally and smoothly put into full operation at its Tahe Factory. This is a significant accomplishment of CN Energy’s in-house R&D team, which began work on updating and improving its fifth-generation gasification reactors in May 2020. (FLS-V).

In September 2021, the first FLS-VI prototype was constructed and installed. After that, on-site work to fix problems and improve performance continued continuously for a total of 14 months of trial operations. Applications of FLS-VI gasification reactors should be widely reproduced across CNEY’s production lines by 2023. CNEY has achieved several improvements and subsequently strengthened its competitiveness in the market thanks to such technological advancements and engineering advances.

  • First, from 4 tons for FLS-V to 20 tons for FLS-VI, the daily outputs of carbonized materials per gasification reactor have grown by five times.
  • Second, reactor automation has been improved and simplified to allow for a roughly two-thirds reduction in the overall workforce required to produce the same level of output as was originally planned.
  • Third, the entire production process is now more environmentally friendly and resource-efficient. Each ton of activated carbon now requires less water and electricity to create, respectively, by 1.5% and 3%.
  • Finally, with observable quality improvements, the total conversion rate from feedstocks to end products has also increased.

What was CNEY doing for progressing further?

CN Energy (CNEY) has been working tirelessly to attain engineering excellence by creating its own intellectual property rights, finding new ways to better serve its clients, and advancing environmental protection. CNEY is able to create refined goods with greater quality and reduced prices because of a new generation of efficient and innovative gasification reactors. All parties involved, including its end users and stockholders, will benefit from this, leading to win-win outcomes.

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