Yangling, Shaanxi, China, April 30, 2020 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corp. (KWBT) (“Kiwa Bio-Tech” or “the Company”), an emerging agricultural company that develops, manufactures and markets bio-fertilizers in the multi-billion China agriculture and aquaculture markets, and develops smart soil remediation technology for global agriculture markets, today announced that the Company together with its wholly owned subsidiary, Kiwa Bio-Tech (Yangling) Co. Ltd (“Yangling”) and its strategic partner Shaanxi Xibaokun Agricultural Technology Co., Ltd., (“Xibaokun”) have established a joint venture named Yangling Kangxi Agricultural Technology Development Co., Ltd. (“Kangxi”) to address ring-fenced soil remediation projects. Xibaokun and Yangling hold 60% and 40% of equity of Kangxi respectively.
Presently, the Chinese government has vigorously promoted the treatment and restoration of polluted land and water resources and plans to invest significant funding to implement remediation projects. Through many experiments related to remediation and restoration of polluted agricultural land, the government has recognized the Company’s core microbial technology as one of the principal technologies for remediation of soil and water resources.
Along with Company’s core technology, Kangxi will engage in technical cooperation with Northwest Agricultural and Forestry University of science and technology, Northwest University, Fudan University and Qingdao VLand Bio-Tech Inc. and Xibaokun, which will take advantage of its government resource relationship to implement soil and water resources remediation and treatment projects with government agencies in Shaanxi province and Zhejiang.
Mr. Wade Li, CEO of Kiwa Bio-Tech commented, “The joint venture will focus on environment protection and will extend our business plan from the original agricultural fertilizer market to enter the soil restoration business field. We believe that our government recognized microbial technology couples with our strong partnerships with prestigious universities and research institutions have positioned us well to address ring-fenced soil remediation projects.”
About Kiwa Bio-Tech Products Group Corp.
Leader in Eco-friendly Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corp. (KWBT, Financial) is an emerging agricultural company that develops, manufactures and distributes innovative and environmentally safe bio-technological products for agriculture and aquaculture markets with corporate headquarters in the Yangling, Shaanxi, China. Kiwa’s focus is to positively impact the environment by reducing the amount of chemical fertilizers that are being used by agricultural growers in China. Kiwa’s products are covered by patent protection and are designed to enhance the quality of human life by increasing the value and productivity of agricultural crops. For more information, please visit the Company’s website at www.kiwabiotech.com.
Forward-Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, the foreign exchange risk amid the unexpected announcements by the PRC government and various other factors beyond the Company’s control. Kiwa Bio-Tech Products Group Corp. specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
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