BEIJING, July 3, 2023
/PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or
the "Company") announced today that Recon Hengda Technology
(Beijing) Co., Ltd. ("Recon BJ"),
a domestic subsidiary of Recon, has entered into a strategic
partnership with Changxia Digital Energy Technology (Hubei) Co., Ltd. ("Changxia Digital Energy"),
an affiliate of China Three Gorges Corporation (CTG), a clean
energy group focused on large-scale hydropower development and
operation. This collaboration exemplifies Recon's commitment to
forging alliances with industry leaders to drive innovation and
promote sustainable development in the petroleum and petrochemical
sectors.
Changxia Digital Energy is a leading energy management service
company. With expertise in various new energy investments,
constructions, operations, and maintenance, Changxia Digital Energy
specializes in solar power generation, wind power generation,
distributed power stations, and virtual power plants.
Both Recon BJ and Changxia Digital Energy recognize the immense
potential of leveraging gas station resources to make full use of
the existing settings and scenarios of gas stations to upgrade them
to provide charging and other services to more non-oil vehicle
owners. As part of the partnership, they will implement customized
solutions based on the targeted gas stations' local conditions of
location, available area of the gas station, equipment layout,
etc., such as distributed photovoltaics ("PV"), PV-to-electric
vehicle charging, and integrated solar storage systems. They aim to
build an intelligent energy service platform that spans regions,
features broad distribution, and promotes multi-energy synergy.
This platform will play an important role in facilitating the
transition to clean and sustainable energy.
Changxia Digital Energy's affiliation with CTG strengthens its
expertise and reputation in the industry. This collaboration will
provide innovative solutions to meet the evolving needs of the
petroleum and petrochemical industry.
Mr. Shenping Yin, CEO of Recon,
remarked: "We are thrilled to join forces with Changxia Digital
Energy. This strategic partnership positions Recon at the forefront
of the clean energy transition in the petroleum and petrochemical
industry. By combining our technological expertise and Changxia
Digital Energy's strong affiliation, we are confident in our
ability to drive sustainable development and make significant
contributions to a greener future."
The collaboration will focus on several key areas, including
distributed/centralized PV, PV-to-electric vehicle charging, energy
storage, multi-energy microgrids, hydrogen-electric integration,
load aggregation, virtual power plants, and piloting electricity
and carbon trading markets. By combining Recon's resources within
the petroleum system with Changxia Digital Energy's expertise in
new energy investment, construction, and operation, the partnership
aims to create intelligent energy service platforms that seamlessly
integrate oil, gas, electricity and hydrogen.
Following the signing of this agreement, the joint projects
between Recon BJ and Changxia Digital Energy will be determined
through independent proposals and agreements. Once confirmed, the
joint ventures will be further memorialized in writing prior to the
commencement of such joint ventures. Designated project managers
from each party will be responsible for the project formulation,
implementation, and communication to ensure efficient progress and
effective cooperation.
Mr. Yin further remarked: "Recon is excited about this strategic
partnership with Changxia Digital Energy, and remains committed to
driving innovation and contributing to the green energy
transformation of the petroleum and petrochemical industry."
About Recon Technology, Ltd ("RCON")
Recon Technology, Ltd (NASDAQ: RCON) is the People's Republic of China's first
NASDAQ-listed non-state owned oil and gas field service company.
Recon supplies China's largest oil
exploration companies, China Petroleum & Chemical Corporation
("Sinopec") and The China National Petroleum Corporation ("CNPC"),
with advanced automated technologies, efficient gathering and
transportation equipment and reservoir stimulation measure for
increasing petroleum extraction levels, reducing impurities and
lowering production costs. Through the years, RCON has taken
leading positions within several segmented markets of the oil and
gas filed service industry. RCON also has developed stable
long-term cooperation relationship with its major clients. For
additional information please visit: http://www.recon.cn/.
Forward-Looking Statements
Recon includes "forward-looking statements" within the meaning
of the federal securities laws throughout this press release. A
reader can identify forward-looking statements because they are not
limited to historical fact or they use words such as "scheduled,"
"may," "will," "could," "should," "would," "expect," "believe,"
"anticipate," "project," "plan," "estimate," "forecast," "goal,"
"objective," "committed," "intend," "continue," or "will likely
result," and similar expressions that concern Recon's strategy,
plans, intentions or beliefs about future occurrences or results.
Forward-looking statements are subject to risks, uncertainties and
other factors that may change at any time and may cause actual
results to differ materially from those that Recon expected. Many
of these statements are derived from Recon's operating budgets and
forecasts, which are based on many detailed assumptions that Recon
believes are reasonable, or are based on various assumptions about
certain plans, activities or events which we expect will or may
occur in the future. However, it is very difficult to predict the
effect of known factors, and Recon cannot anticipate all factors
that could affect actual results that may be important to an
investor. All forward-looking information should be evaluated in
the context of these risks, uncertainties and other factors,
including those factors disclosed under "Risk Factors" in Recon's
most recent Annual Report on Form 20-F and any subsequent half-year
financial filings on Form 6-K filed with the Securities and
Exchange Commission. All forward-looking statements are qualified
in their entirety by the cautionary statements that Recon makes
from time to time in its SEC filings and public communications.
Recon cannot assure the reader that it will realize the results or
developments Recon anticipates, or, even if substantially realized,
that they will result in the consequences or affect Recon or its
operations in the way Recon expects. Forward-looking statements
speak only as of the date made. Recon undertakes no obligation to
update or revise any forward-looking statements to reflect events
or circumstances arising after the date on which they were made,
except as otherwise required by law. As a result of these risks and
uncertainties, readers are cautioned not to place undue reliance on
any forward-looking statements included herein or that may be made
elsewhere from time to time by, or on behalf of, Recon.
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SOURCE Recon Technology, Ltd
