CF Energy Expands Its Battery Swap Business in Beihai City

TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), a leading new energy service provider in the People’s Republic of China (the ”PRC”) is pleased to announce that the Group has acquired 70% stake in a profitable local Beihai City electric (“EV”) vehicle battery swap station operator, Beihai Brighton Road New Energy Ltd. (the “Beihai Company”) in Beihai City, Gangxi Province, the PRC, for a consideration of RMB1.24 million with reference to the valuation of RMB 1.77 million for the Beihai Company.

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