Smart Powerr Corp. engages in the recycling energy business in China. The company designs, finances, constructs, installs, operates, and transfers waste energy recycling projects to mid- to large-size enterprises involved in high energy-consuming businesses. It provides waste pressure-to-energy solutions, including the Blast Furnace Top Gas Recovery Turbine Unit, a system that utilizes high pressure gas emitted from the blast furnace top to drive turbine units and generate electricity; and waste heat-to-energy solutions, such as heat power generation projects for applications in cement, steel, coking coal, and nonferrous metal industries, which collect the residual heat from various manufacturing processes. The company also offers waste gas-to-energy solutions comprising the Waste Gas Power Generation system that utilizes flammable waste gas from coal mining, petroleum exploitation, refinery processing, or other sources as a fuel source to generate electricity; and the Combined Cycle Power Plant, which employs power generating cycle to utilize the waste gas that generates electricity by burning the flammable waste gas in a gas turbine, as well as uses the waste heat from burning the gas to make steam to generate additional electricity through a steam turbine. In addition, it provides project investment, investment management, economic information consulting, technical, financial leasing, and financial leasing transactions consulting services; purchases, repairs, and disposes financial leasing assets; and sells and leases energy saving systems and equipment. The company was formerly known as China Recycling Energy Corporation and changed its name to Smart Powerr Corp. in March 2022. Smart Powerr Corp. was incorporated in 1980 and is headquartered in Xi'an, China.
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A **NextEra Energy** (a major renewable energy producer) focused on industrial distributed clean energy and waste heat recovery in China.
A specialized clean energy producer like **Ormat Technologies**, but focused on industrial waste heat recovery and distributed power with a growing emphasis on smart energy storage.
A regional **Brookfield Renewable Partners** (a diversified renewable asset owner) for industrial clean energy and smart energy solutions in China.
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- Renewable Energy Power Generation Projects: Development, construction, and operation of facilities that generate electricity from various renewable sources, including waste heat, biomass, and other clean energy technologies.
- Battery Energy Storage Systems (BESS): Integrated solutions for storing electrical energy, primarily utilizing lithium-ion batteries, to enhance grid stability and optimize energy management.
- Power Conversion Systems (PCS): Key components within energy storage systems that manage the bidirectional conversion of power between direct current (DC) from batteries and alternating current (AC) for the electrical grid.
- Hydrogen Production Facilities: Engineering, procurement, and construction (EPC) services for plants designed to produce hydrogen, supporting industrial applications and the clean energy sector.
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Smart Powerr (CREG) Major Customers
Smart Powerr Corp. (CREG) primarily sells its products and services to other companies (B2B). According to its latest available annual filings (e.g., 10-K for the fiscal year ended December 31, 2022), the company did not have any single customer that individually accounted for 10% or more of its total revenue. Therefore, specific names of major customers are not disclosed.
However, based on its business segments, Smart Powerr serves the following categories of B2B customers:
- Manufacturers and Integrators of Lithium-ion Battery Products: Customers in this category include companies that integrate Smart Powerr's lithium-ion batteries into various end products. These can range from manufacturers of electric vehicles (EVs), energy storage systems (ESS), consumer electronics, industrial equipment, and other specialized applications.
- Power Grid Operators/Utility Companies: For its renewable energy projects (solar power and waste-to-energy), the primary customers are the state-owned power grid companies in China (such as State Grid Corporation of China and China Southern Power Grid). These entities purchase the electricity generated from Smart Powerr's power plants.
- Local Municipalities and Governments: Particularly for its waste-to-energy projects, Smart Powerr enters into long-term contracts with local governments and municipal authorities in China. These agreements involve receiving and processing waste, for which the municipalities pay service fees and/or enter into power purchase agreements for the generated electricity.
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Guohua Ku, Chairman & CEO
Mr. Ku has been the Chief Executive Officer of Smart Powerr Corp. (formerly known as China Recycling Energy Corporation) since December 10, 2008. He also serves as the Chairman of the Board. Mr. Ku founded the company on May 8, 1980. He previously served as President and Chief Technology Officer.
Yongjiang Shi, Principal Accounting Officer, Chief Financial Officer and Vice President
Mr. Shi holds the positions of Principal Accounting Officer, Chief Financial Officer, and Vice President at Smart Powerr Corp.
Binfeng Gu, Secretary
Ms. Gu serves as the Secretary of Smart Powerr Corp.
Bohan Zhang, Vice President of Accounting
Mr. Zhang is the Vice President of Accounting for Smart Powerr Corp.
Yan Zhan, Executive Director
Mr. Zhan is an Executive Director of Smart Powerr Corp. He is also the Chief Sales Officer of TCH Energy Technology Co., Ltd.
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The accelerating pace of cost reduction and manufacturing scalability in green hydrogen production (electrolyzers) and hydrogen fuel cell technology by larger, better-funded global and domestic competitors poses a clear emerging threat. These competitors are leveraging substantial R&D investments, advanced manufacturing techniques, and economies of scale to rapidly drive down the cost per kilowatt and improve the efficiency of their offerings. If Smart Powerr cannot match these aggressive cost reduction curves and scale-up capabilities, its hydrogen technology and power generation equipment risk becoming uncompetitive on price and performance against more affordable and advanced solutions entering the market at scale.
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Smart Powerr (symbol: CREG) primarily operates in the waste energy recycling and energy efficiency solutions sector, focusing on industrial clients in China. Its main products and services involve recapturing wasted pressure, heat, and gas from industrial manufacturing processes to generate electricity, including waste gas-to-energy solutions.
The addressable market for Smart Powerr's main products and services can be primarily identified within the Waste-to-Energy (WtE) market in China, and more broadly, within the renewable energy market in China.
- China Waste-to-Energy Market: This market was valued at approximately USD 7.01 billion in 2024. It is projected to grow to approximately USD 16.51 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 8.94% from 2025 to 2033.
- China Renewable Energy Market (broader context): This broader market generated a revenue of approximately USD 189.12 billion in 2024 and is expected to reach approximately USD 705.52 billion by 2033, with a CAGR of 16.8% from 2025 to 2033.
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Here are 3-5 expected drivers of future revenue growth for Smart Powerr (CREG) over the next 2-3 years:
- Transition to an Energy Storage Integrated Solution Provider: Smart Powerr is undergoing a significant transformation, moving towards becoming an energy storage integrated solution provider. This strategic pivot positions the company to tap into the growing market for energy storage technologies and services.
- Expansion into High-Growth Energy Storage Markets: The company is actively exploring opportunities within the energy storage sector, particularly in areas with high growth potential such as industrial complexes and large-scale photovoltaic and wind power stations. This market expansion is expected to be a key driver of new revenue streams.
- Leveraging Existing Assets for New Ventures: As part of its transformation, Smart Powerr plans to leverage its current assets to support its new focus on energy storage solutions. This approach could facilitate a more efficient entry and scaling within the new market, contributing to revenue growth.
- Demand for Energy Saving Solutions in China: Smart Powerr continues to operate through its subsidiaries in China, primarily offering energy-saving solutions and services. Ongoing demand for these solutions in energy-intensive industries such as steel, cement, nonferrous metal, coal, and petrochemical industries could contribute to revenue, especially as the company integrates these offerings with its new energy storage capabilities.
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Share Issuance
- In October 2025, Smart Powerr Corp. entered into a private placement to issue 17,000,000 units, each consisting of one share of common stock and one warrant, with expected gross proceeds of $20,060,000 for working capital and general corporate purposes.
- Effective July 17, 2025, the company completed a 1-for-10 reverse stock split, which reduced its outstanding shares from approximately 25.3 million to about 2.53 million, primarily to maintain compliance with Nasdaq's minimum bid price requirement.
Inbound Investments
- Smart Powerr Corp. received $20,060,000 in gross proceeds from a private placement of common stock and warrants from accredited investors in October 2025.
Capital Expenditures
- Capital expenditures for the last 12 months totaled approximately $784,877.
- The primary focus of these capital expenditures is on constructing and installing waste energy recycling projects and energy efficiency solutions at customer facilities in China.
