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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001144204-10-003369.txt : 20100125
<SEC-HEADER>0001144204-10-003369.hdr.sgml : 20100125
<ACCEPTANCE-DATETIME>20100125143547
ACCESSION NUMBER:		0001144204-10-003369
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100125
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100125
DATE AS OF CHANGE:		20100125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA RECYCLING ENERGY CORP
		CENTRAL INDEX KEY:			0000721693
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				900093373
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12536
		FILM NUMBER:		10544434

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 909, TOWER B, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068
		BUSINESS PHONE:		86-29-8765-1096

	MAIL ADDRESS:	
		STREET 1:		SUITE 909, TOWER B, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHINA DIGITAL WIRELESS INC
		DATE OF NAME CHANGE:	20040810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER ACQUISITIONS  INC
		DATE OF NAME CHANGE:	20020430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER BREWING CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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to Section&#160;13 or 15(d) of The Securities Exchange Act of 1934</font></div>
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
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</font></div>
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</font></div>
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5.02.&#160;&#160;Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 25, 2010, China Recycling Energy Corporation (the &#8220;Company&#8221;) issued a
press release, attached hereto as Exhibit 99.1, announcing the Board of
Directors (the &#8220;Board&#8221;) of the Company approved the increase in the size of the
Board from six members to seven members on January 20, 2010. At the same time,
the Board appointed Mr. Robert Chanson as the new member of the Board to fill
the vacancy on the Board until his successor has been duly elected and
qualified.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Chanson was also appointed by the Board as a member of its Compensation
Committee and Corporate Governance and Nominating Committee.&#160;&#160;In
connection with the appointment of Mr. Chanson to the Compensation Committee,
Mr. Timothy Driscoll resigned his position as a member of the Compensation
Committee and was appointed as a member of the Audit Committee.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Mr. Chanson has served as the Chairman
of Calventis SA, Switzerland since 2009 and the Chairman of Samba Minerals Ltd,
Australia since 2008.&#160;&#160;Mr. Chanson previously served as the Chairman
and chief executive officer of AmbioCare Holding from 2001 to 2007, a director
of Plant Health Care plc in the U.K. from 2004 through 2008, a director of Plant
Health Care, Inc. in the U.S. from 1995 through 2004, and a director of EHC
Viridian Ltd. in the U.K. from 1999 to 2001.&#160;&#160;Mr. Chanson received
both his Doctorate and Master in Law degrees from the University of Zurich and
his Bachelor Degree in Natural Sciences (Physics &amp; Chemistry) with Latin
from </font>Kantons- schule Zurich' in Zurich, Switzerland.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on
its investigation, the Board determined that Mr. Chanson is &#8220;independent&#8221; under
the independence requirements of The NASDAQ Stock Market LLC and Rule 10A-3
under the Securities Exchange Act of 1934, and he does not have a relationship
that would interfere with the exercise of independent judgment in carrying out
the responsibilities of a director.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based on
its review, the Board also determined that Mr. Robert Chanson qualifies as a
&#8220;Non-Employee Director&#8221; as defined by Rule 16b-3 under the Securities Exchange
Act of 1934, as amended, and an &#8220;outside director&#8221; under Section 162(m) of the
Internal Revenue Code and related regulations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
connection with the appointment, the Company entered into a director agreement
with Mr. Chanson.&#160;&#160;In the agreement, Mr. Chanson will receive
compensation in the amount of $2,000 per month and an option to purchase 40,000
shares of the Company&#8217;s Common Stock, par value $0.001, at an exercise price
equal to the closing price per share of the Company's Common Stock on January
20, 2010.</font></div>
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      9.01.</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
      Statements and Exhibits.</font></div>
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          <tr valign="top">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font></div>
            </td>
            <td>
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      following exhibit is filed with this
report.</font></div>
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                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Number</font></div>
                      </td>
                      <td align="left" valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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2010.</font></div>
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to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
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      Recycling Energy Corporation</font></div>
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      Peng, Chief Financial Officer</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><img src="logo.jpg"></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">China
Recycling Energy Corp. Announces the Appointment of a New Board Member and the
Appointment of Independent Members of Compensation Committee, Corporate
Governance and Nominating Committee and Audit Committee</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">XI'AN,
China, Jan. 25&#8212; China Recycling Energy Corp. (OTC Bulletin Board: CREG; "CREG"
or "the Company"), a leading industrial waste-to-energy solution provider in
China, today announced that the Board of Directors approved the increase in the
size of the Board from six members to seven members and has appointed, Mr.
Robert Chanson, as its seventh board member.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Chanson was also appointed by the Board as a member of its Compensation
Committee and as a member of its Corporate Governance and Nominating
Committee.&#160;&#160;In connection with the appointment of Mr. Chanson to the
Compensation Committee, Mr. Timothy Driscoll resigned his position as a member
of the Compensation Committee and was appointed as a member of the Audit
Committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Chanson has served as the Chairman of Calventis SA, Switzerland since 2009 and
the Chairman of Samba Minerals Ltd, Australia since 2008.&#160;&#160;He
previously served as the Chairman and chief executive officer of AmbioCare
Holding from 2001 to 2007, a director of Plant Health Care plc in the U.K. from
2004 through 2008, a director of Plant Health Care, Inc. in the U.S. from 1995
through 2004, and a director of EHC Viridian Ltd. in the U.K. from 1999 to 2001.
Mr. Chanson received both his Doctorate and Master in Law degrees from the
University of Zurich and his Bachelor Degree in Natural Sciences (Physics &amp;
Chemistry) with Latin from Kantons-schule Zurich' in Zurich,
Switzerland.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
seven-member board is now comprised of four independent members including Mr.
Sean Shao, Mr. Julian Ha, Mr. Timothy Driscoll, and Mr. Robert
Chanson.&#160;&#160;Mr. Guohua Ku, Chairman and CEO of CREG, commented, "On
behalf of China Recycling Energy, we emphatically welcome Mr. Chanson to the
Board. He brings years of executive expertise and sound judgment. Together, we
look forward to working collaboratively to further improve our corporate
governance and diversify our board."</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
China Recycling Energy Corp.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">China
Recycling Energy Corp. (OTCBB: CREG.OB; "CREG" or "the Company") is based in
Xi'an, China and provides environmentally friendly waste-to-energy technologies
to recycle industrial byproducts for steel mills, cement factories and coke
plants in China. Byproducts include heat, steam, pressure, and exhaust to
generate large amounts of lower-cost electricity and reduce the need for outside
electrical sources. The Chinese government has adopted policies to encourage the
use of recycling technologies to optimize resource allocation and reduce
pollution. Currently, recycled energy represents only an estimated 1% of total
energy consumption and this renewable energy resource is viewed as a growth
market due to intensified environmental concerns and rising energy costs as the
Chinese economy continues to expand. The management and engineering teams have
over 20 years of experience in industrial energy recovery in China.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For more
information about CREG, please visit <font style="DISPLAY: inline; TEXT-DECORATION: underline">http://www.creg-cn.com</font>
..</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Safe
Harbor Statement</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
press release may contain certain "forward-looking statements" relating to the
business of China Recycling Energy Corp. and its subsidiary companies. All
statements, other than statements of historical fact included herein are
"forward-looking statements." These forward-looking statements are often
identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be incorrect.
Investors should not place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those discussed in the
Company's periodic reports that are filed with the Securities and Exchange
Commission and available on its website at <font style="DISPLAY: inline; TEXT-DECORATION: underline">http://www.sec.gov</font> .
All forward-looking statements attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these factors. Other
than as required under the securities laws, the Company does not assume a duty
to update these forward-looking statements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;For
more information, please contact:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;In
China:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Mr.
Leo Wu</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Investor
Relations</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;China
Recycling Energy Corp.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Tel:&#160;&#160;&#160;+86-29-8765-1097</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Email:
tch@creg-cn.com</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;In
USA:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Mr.
Howard Gostfrand</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;American
Capital Ventures, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Tel:&#160;&#160;&#160;+1-305-918-7000</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;Email:
<font style="DISPLAY: inline; TEXT-DECORATION: underline">hg@amcapventures.com</font></font></div><br>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
