Organization and Description of Business (Details)

1 Months Ended

9 Months Ended

12 Months Ended

Jan. 10, 2020

Feb. 11, 2015

Sep. 11, 2013

USD ($)

$ / shares

$ / item

Sep. 11, 2013

CNY (¥)

Apr. 14, 2009

USD ($)

Apr. 14, 2009

CNY (¥)

Sep. 29, 2019

Feb. 15, 2019

Dec. 29, 2018

Mar. 31, 2016

Mar. 24, 2014

Jul. 31, 2013

USD ($)

Jul. 19, 2013

USD ($)

Jul. 18, 2013

USD ($)

Jun. 25, 2013

Jun. 15, 2013

USD ($)

Jun. 15, 2013

CNY (¥)

Mar. 30, 2013

USD ($)

Mar. 30, 2013

CNY (¥)

Sep. 28, 2011

USD ($)

Sep. 28, 2011

CNY (¥)

Jun. 29, 2010

USD ($)

Jun. 29, 2010

CNY (¥)

Sep. 30, 2020

Dec. 31, 2018

USD ($)

Jan. 04, 2019

USD ($)

Jan. 04, 2019

CNY (¥)

Sep. 11, 2013

CNY (¥)

$ / item

Jul. 19, 2013

CNY (¥)

Jul. 18, 2013

CNY (¥)

Apr. 14, 2009

CNY (¥)

Organization and Description of Business (Details) [Line Items]

Total investment for projects

$ 79,000,000

Amount of ownership interest

$ 1,290,000

Lease period

11 years

Common stock issuable for power generation systems (in Shares) | shares

87,666

Reverse stock split of common stock per share (in Dollars per Item) | $ / item

0.001

Lease amount per month

$ 630,000

¥ 3,800,000

Registered capital

$ 17,520,000

¥ 120,000,000

Description of fund management

The Company recorded $397,033 loss from this transfer during the year ended December 31, 2019. On January 10, 2019, Mr. Chonggong Bai transferred all the equity shares of his wholly owned company, Xi’an Hanneng, to HYREF as repayment for the loan. Xi’an Hanneng was expected to own 47,150,000 shares of Xi’an Huaxin New Energy Co., Ltd for the repayment of Huayu system and Shenqiu system. As of September 30, 2019, Xi’an Hanneng already owned 29,948,000 shares of Huaxin, but was not able to obtain the remaining 17,202,000 shares due to halted trading of Huaxin stock by NEEQ for not filing its 2018 annual report. On December 20, 2019, Mr. Bai and all the related parties agreed to have Mr. Bai instead pay in cash for the transfer price of Huayu (see Note 9 for detail).

Description of register captial

Xi’an TCH incorporated a subsidiary, Zhongxun Energy Investment (Beijing) Co., Ltd. (“Zhongxun”) with registered capital of $5,695,502 (RMB 35,000,000), which must be contributed before October 1, 2028. Zhongxun is 100% owned by Xi’an TCH and will be mainly engaged in project investment, investment management, economic information consulting, and technical services. Zhongxun has not yet commenced operations nor has any capital contribution been made as of the date of this report.

Cooperative agreement, description

Upon completion of the Tianyu Project, Zhonghong will charge Tianyu an energy saving fee of RMB 0.534 ($0.087) per kilowatt hour (excluding tax). The term of the Tianyu Agreement is 20 years. The construction of the Xuzhou Tian’an Project is anticipated to be completed by the second quarter of 2020.

Biomass Power Generation Project Lease Agreement [Member]

Organization and Description of Business (Details) [Line Items]

Leasing fees

$ 279,400

¥ 1,900,000

Lease period

15 years

Purchase price for power generation systems

$ 16,480,000

$ 16,670,000

¥ 100,000,000

Common stock issuable per share for power generation systems (in Dollars per share) | $ / shares

$ 187.0

Shenqiu Project [Member]

Organization and Description of Business (Details) [Line Items]

Leasing fees

$ 286,000

¥ 1,800,000

Description of register captial

the Company incorporated a subsidiary, Shanghai Yinghua Financial Leasing Co., Ltd. (“Yinghua”) with registered capital of $30,000,000, to be paid within 10 years from the date the business license is issued. Yinghua is 100% owned by the Company and will be mainly engaged in financial leasing, purchase of financial leasing assets, disposal and repair of financial leasing assets, consulting and ensuring of financial leasing transactions, and related factoring business. Yinghua has not yet commenced operations nor has any capital contribution been made as of the date of this report.

Xi'an Zhonghong New Energy Technology Co [Member]

Organization and Description of Business (Details) [Line Items]

Registered capital

$ 4,850,000

¥ 30,000,000

DaTong Recycling Energy [Member]

Organization and Description of Business (Details) [Line Items]

Maturity term

20 years

Ownership percentage

30.00%

Erdos Metallurgy Company Limited [Member]

Organization and Description of Business (Details) [Line Items]

Total investment for projects | ¥

¥ 500,000,000

Ownership percentage

7.00%

Erdos Metallurgy Company Limited [Member] | Initial Investment [Member]

Organization and Description of Business (Details) [Line Items]

nvestment cost

$ 17,550,000

¥ 120,000,000

Xi'an TCH Energy Technology Co., Ltd. [Member]

Organization and Description of Business (Details) [Line Items]

Ownership percentage

93.00%

Erdos TCH [Member]

Organization and Description of Business (Details) [Line Items]

Amount of ownership interest

$ 1,290,000

¥ 8,000,000

Leases, description

Erdos will compensate Erdos TCH RMB 1 million ($145,460) per month, until operations resume.

Erdos TCH [Member] | Biomass Power Generation Project Lease Agreement [Member]

Organization and Description of Business (Details) [Line Items]

Leasing fees | ¥

¥ 1,500,000

Lease period

9 years 6 months

Da Tang Shi Dai [Member]

Organization and Description of Business (Details) [Line Items]

Ownership percentage

30.00%

TianYu XuZhou Recycling Energy [Member]

Organization and Description of Business (Details) [Line Items]

Ownership percentage

40.00%

Xian Tch [Member]

Organization and Description of Business (Details) [Line Items]

Leases, description

Pursuant to the Termination Agreement, the parties agreed that: (i) Pucheng shall pay outstanding lease fees of RMB 97.6 million ($14 million) owed as of December 31, 2018 to Xi’an TCH before January 15, 2020; (ii) Xi’an TCH will waive the lease fees owed after January 1, 2019; (iii) Xi’an TCH will not return RMB 3.8 million ($542,857) in cash deposits paid by Pucheng; (iv) Xi’an TCH will transfer the Project to Pucheng at no additional cost after receiving RMB 97.6 million ($14 million) from Pucheng, and the original lease agreement between the parties will be formally terminated; and (v) if Pucheng fails to pay off RMB 97.6 million ($14 million) to Xi’an TCH before January 15, 2020, Xi’an TCH will still hold ownership of the Project and the original lease agreement shall still be valid. The Company recorded an additional $2.67 million bad debt expense for Pucheng during the year ended December 31, 2019. Xi’an TCH received RMB 97.6 million ($14 million) in full on January 14, 2020 and the ownership of the system was transferred.

Initial capital contribution, description

the Company’s wholly-owned subsidiary, Xi’an TCH, which made an initial capital contribution of RMB 75 million ($12.5 million) to the HYREF Fund and is a secondary limited partner. In addition, Xi’an TCH and Hongyuan Huifu formed Beijing Hongyuan Recycling Energy Investment Management Company Ltd. to manage this Fund, which also subscribed in the amount of RMB 5 million ($830,000) from the Fund. The term of the HYREF Fund’s partnership is six years from the date of its establishment, expiring July 18, 2019. However, the HYREF Fund’s partnership will not terminate until the HYREF loan is fully repaid and the buy-back period is over pursuant to the Buy-back Agreement entered on December 29, 2018 (see Note 9). The term is four years from the date of contribution for the preferred limited partner, and four years from the date of contribution for the ordinary limited partner. The total size of the HYREF Fund is RMB 460 million ($77 million). The HYREF Fund was formed to invest in Xi’an Zhonghong New Energy Technology Co., Ltd., a then 90% owned subsidiary of Xi’an TCH, for the construction of two coke dry quenching (“CDQ”) Waste Heat Power Generation (“WHPG”) stations with Jiangsu Tianyu Energy and Chemical Group Co., Ltd. (“Tianyu”) and one CDQ WHPG station with Boxing County Chengli Gas Supply Co., Ltd. (“Chengli”).

Ownership, Description

Xi’an TCH entered into a Share Transfer Agreement with Hongyuan Huifu, pursuant to which Xi’an TCH transferred its 40% ownership in the Fund Management Company to Hongyuan Huifu for RMB 3,453,867 ($0.53 million). The transfer was completed January 22, 2019. The Company recorded approximately $46,500 loss from the sale of a 40% equity interest in Fund Management Company. The Company does not have any ownership in the Fund Management Company after this transaction.

Xian Tch [Member] | Biomass Power Generation Project Lease Agreement [Member]

Organization and Description of Business (Details) [Line Items]

Leasing fees

$ 239,000

Xi'an Huaxin New Energy Co., Ltd [Member]

Organization and Description of Business (Details) [Line Items]

Repayment of loan (in Shares) | shares

47,150,000

Hongyuan Huifu Venture Capital Co. Ltd [Member]

Organization and Description of Business (Details) [Line Items]

Initial capital contribution, description

(the “Fund Management Company”) with registered capital of RMB 10 million ($1.45 million). Xi’an TCH made an initial capital contribution of RMB 4 million ($650,000) and held a 40% ownership interest in the Fund Management Company. With respect to the Fund Management Company, voting rights and dividend rights are allocated 80% and 20% between Hongyuan Huifu and Xi’an TCH, respectively.

Description of fund management

pursuant to which Xi’an Zhonghong transferred Chengli CDQ WHPG station as the repayment for the loan of RMB 188,639,400 ($27.54 million) to HYREF. Xi’an Zhonghong, Xi’an TCH, Guohua Ku and Chonggong Bai also agreed to buy back the CDQ WHPG Station when conditions under the Buy Back Agreement are met (see Note 9). The transfer of the Station was completed January 22, 2019, the Company recorded $624,133 loss from this transfer.

Transfer Agreement, description

Zhonghong, Tianyu and Huaxin signed a transfer agreement to transfer all assets under construction and related rights and interests of Xuzhou Tian’an Project to Tianyu for RMB 170 million including VAT ($24.37 million) in three installment payments. The 1st installment payment of RMB 50 million ($7.17 million) to be paid within 20 working days after the contract is signed. The 2nd installment payment of RMB 50 million ($7.34 million) is to be paid within 20 working days after completion of the project construction but no later than July 31, 2020. The final installment payment of RMB 70 million ($10.28 million) is to be paid before December 31, 2020. On March 11, 2020, the Company received the 1st installment payment.

HYREF Fund [Member]

Organization and Description of Business (Details) [Line Items]

Registered capital

$ (830,000)

5,000,000

Total fund capital contribution

77,000,000

460,000,000

HYREF Fund [Member] | China Orient Asset Management Co., Ltd [Member]

Organization and Description of Business (Details) [Line Items]

Subscribed amount of initial capital contribution

$ 46,670,000

¥ 280,000,000

Xi'an Zhonghong New Energy Technology Co [Member]

Organization and Description of Business (Details) [Line Items]

Ownership, Description

Xi’an TCH paid RMB 27 million ($4.37 million) and owns 90% of Zhonghong. Zhonghong is engaged to provide energy saving solution and services, including constructing, selling and leasing energy saving systems and equipment to customers. On December 29, 2018, Shanghai TCH entered into a Share Transfer Agreement with HYREF, pursuant to which HYREF transferred its 10% ownership in Xi’an Zhonghong to Shanghai TCH for RMB 3 million ($0.44 million). The transfer was completed on January 22, 2019. The Company owns 100% of Xi’an Zhonghong after the transaction.

Lease agreement term, description

The payment term is 20 years. For the first 10 years, Zhongtai shall pay an energy saving fee at RMB 0.534 ($0.089) per kilowatt hour (KWH) (including value added tax) for the power generated from the system. For the second 10 years, Zhongtai shall pay an energy saving fee at RMB 0.402 ($0.067) per KWH (including value added tax). During the term of the contract the energy saving fee shall be adjusted at the same percentage as the change of local grid electricity price. Zhongtai shall also pay an energy saving fee for the steam supplied by Xi’an TCH at RMB 100 ($16.67) per ton (including value added tax). Zhongtai and its parent company will provide guarantees to ensure Zhongtai will fulfill its obligations under the Agreement. Upon the completion of the term, Xi’an TCH will transfer the systems to Zhongtai for RMB 1 ($0.16). Zhongtai shall provide waste heat to the systems for no less than 8,000 hours per year and waste gas volume no less than 150,000 Normal Meter Cubed (Nm3) per hour, with a temperature no less than 950°C. If these requirements are not met, the term of the Agreement will be extended accordingly. If Zhongtai wants to terminate the Zhongtai Agreement early, it shall provide Xi’an TCH with a 60 day notice and pay the termination fee and compensation for the damages to Xi’an TCH according to the following formula: (1) if it is less than five years into the term when Zhongtai requests termination, Zhongtai shall pay: Xi’an TCH’s total investment amount plus Xi’an TCH’s annual investment return times five years minus the years in which the system has already operated; or 2) if it is more than five years into the term when Zhongtai requests the termination, Zhongtai shall pay: Xi’an TCH’s total investment amount minus total amortization cost (the amortization period is 10 years).

Biomass Power Generation Project Lease Agreement [Member]

Organization and Description of Business (Details) [Line Items]

Payment of transfer price

$ 18,550,000

¥ 127,066,000

Loss from the transfer

$ 208,359

Zhongtai Waste Heat Power Generation Energy Management Cooperative Agreement [Member] | Xian Tch [Member]

Organization and Description of Business (Details) [Line Items]

Description of waste heat power generation energy management cooperative agreement

As consideration for the transfer of the Project, Zhongtai agreed to pay to Xi’an TCH RMB 167,360,000 ($25.77 million) including (i) RMB 152,360,000 ($23.46 million) for the construction of the Project; and (ii) RMB 15,000,000 ($2.31 million) as payment for partial loan interest accrued during the construction period. Those amounts have been, or will be, paid by Zhongtai to Xi’an TCH according to the following schedule: (a) RMB 50,000,000 ($7.70 million) was to be paid within 20 business days after the Transfer Agreement was signed; (b) RMB 30,000,000 ($4.32 million) was to be paid within 20 business days after the Project was completed, but no later than July 30, 2016; and (c) RMB 87,360,000 ($13.45 million) was to be paid no later than July 30, 2017. Xuzhou Taifa Special Steel Technology Co., Ltd. (“Xuzhou Taifa”) guaranteed the payments from Zhongtai to Xi’an TCH. The ownership of the Project was conditionally transferred to Zhongtai following the initial payment of RMB 50,000,000 ($7.70 million) by Zhongtai to Xi’an TCH and the full ownership of the Project will be officially transferred to Zhongtai after it completes all payments pursuant to the Transfer Agreement. The Company recorded a $2.82 million loss from this transaction in 2016. In 2016, Xi’an TCH had received the first payment of $7.70 million and the second payment of $4.32 million. However, the Company received a repayment commitment letter from Zhongtai on February 23, 2018, in which Zhongtai committed to pay the remaining payment of RMB 87,360,000 ($13.45 million) no later than the end of July 2018; in July 2018, Zhongtai and the Company reached a further oral agreement to extend the repayment term of RMB 87,360,000 ($13.45 million) by another two to three months. As of September 30, 2020, the Company had gross receivable from Zhongtai for $4.40 million (with bad debt allowance of $4.40 million). In January 2020, Zhongtai paid RMB 10 million ($1.41 million); in March 2020, Zhongtai paid RMB 20 million ($2.82 million); in June 2020, Zhongtai paid RMB 10 million ($1.41 million). Zhongtai is committed to pay in full the remaining balance of RMB 30 million ($4.40 million) no later than the end of 2020.