NEW YORK, Nov. 15, 2019 /PRNewswire/ -- Recon
Technology, Ltd. (NASDAQ:RCON) ("Recon" or the "Company"), today
announced that Sinopec Huabei Oilfield Branch Oil Extraction First
Factory ("Huabei Oilfield"), a client of Recon's wholly-owned
subsidiary Beijing Bright Petroleum Technology Co., Ltd ("Beijing
BHD"), recently received a wastewater test report, showing all the
indicators of the sample wastewater at its wastewater treatment
station are qualified. Beijing BHD provided sewage treatment and
reinjection technology services to Huabei Oilfield, aimed to ensure
that the treated wastewater is up to standard. The excellent
performance of Beijing BHD's sewage treatment technology is
expected to bring more contracts and produce more profit for the
Company.
According to the report issued by a third-party testing company,
all the indicators are qualified and comply with the relevant
national environmental monitoring technical standards and the
requirements of Huabei Oilfield. The necessity of treatment of
oilfield wastewater represents not only serious operational issues
but also a major environmental challenge to all oil
producers. Increased regulatory requirements amidst the need
for greater environmental protection drive oilfields to utilize
professional products and services to meet the new standards. As a
total solution provider to petroleum companies, Recon has developed
an oilfield wastewater treatment device to improve the
effectiveness of sewage treatment, reduce infrastructure
investment and operating costs for oil companies.
"Our services helped Huabei Oilfield treated 35,000 cubic meters
of wastewater per month and sustainably generated more than
$100,000 monthly revenue for Recon.
We are confident with our sewage treatment technology and our
Environmental, social and governance
management, which is ESG strategy,"
Mr. Shenping Yin, co-founder,
and CEO of Recon stated. "With excellent results in sewage
treatment, Huabei Oilfield plans to adopt our technology in the
treatment of sewage sludge, and we expect to sign more contracts in
the future to fulfill both social impact and
environmental benefits. We will leverage our technical
capabilities and experience in the oilfield production industry and
to further enhance our leading position in China's oilfield environmental protection
industry for the benefit of shareholders' interests."
About Recon Technology, Ltd.
Recon Technology,
Ltd. (RCON) is China's first non-state-owned
oil and gas field service company listed on NASDAQ. Recon
supplies China's largest oil exploration
companies with advanced automated technologies, efficient
gathering and transportation equipment and reservoir stimulation
measures for increasing petroleum extraction levels, reducing
impurities and lowering production costs. Since 2017, the Company
has expanded its business operations into other segments of the
broader energy industry including electric power, coal chemicals,
renewable energy and environmental protection in the energy and
chemical industries. Through the years, Recon has taken
leading positions on several market segments of the oil and gas
field service industry. Recon also has developed stable long-term
cooperation relationships with its major clients, and its
products and service are well accepted by clients. For additional
information please visit: www.recon.cn.
Safe Harbor Statement
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the company, are expressly qualified by the
cautionary statements and any other cautionary statements which may
accompany the forward-looking statements. In addition, the company
disclaims any obligation to update any forward-looking statements
to reflect events or circumstances after the date hereof.
IR contact:
Dragon Gate Investment
Partners LLC
Tel: +1(646)-801-2803
Email: RCON@dgipl.com
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SOURCE Recon Technology, Ltd.