Recon Enters into Agreement to Invest in Company Focused on Developing Blockchain-based Sustainable Energy Solutions


BEIJING, June 3, 2021 /PRNewswire/ — Recon Know-how, Ltd. (NASDAQ: RCON) (“Recon” or the “Company”) today announced that the Company has entered into a share exchange agreement (collectively, the “Agreement”) with Starry Blockchain Energy Pte. Ltd. (“Starry”) (starrylab.io)on June 3, 2021. Incorporated in Singapore, Starry seeks to leverage blockchain technology to drive sustainable energy solutions. Pursuant to the Agreement, Recon will issue unregistered, restricted Class A shares (the “Restricted Shares”) to Starry’s founding shareholders in exchange for 30% of the shares of Starry.

Management Commentary

Mr. Shenping Yin, CEO of Recon, stated, “Blockchain technology has the potential to reshape sustainable energy, making energy utilization more efficient and environmentally friendly. Recon believes that our investment in Starry will help Recon quickly enter China’s sustainable energy market. We also plan to cooperate with Starry through our subsidiary Future Gas Station (Beijing) Technology Company Limited to provide technical and resource support for upgrading China’s numerous traditional gas stations and oil fields into integrated energy network through Starry’s blockchain technology, which can be used for distributed energy storage and trading segment in coming years to help our clients achieve their targets in carbon neutralization. .”

Mr. Zhongrui Kuang, a founder and CEO of Starry, stated, “In response to the requirements of the Paris Climate Agreement on international carbon emissions and in order to achieve the goal of carbon neutrality, governments around the world are expected to invest trillions of dollars to reduce emissions in the coming years. The problem of inefficient utilization of traditional sustainable energy is always troubling people, and blockchain technology may significantly alleviate this problem. We believe there will be more and more applications of blockchain in sustainable energy in the near future.”

About Starry Blockchain Energy Pte. Ltd.

Starry is a company seeking to use blockchain technology to develop and use sustainable energy solutions. Starry aims to build itself into a block-chain based sustainable energy technological expert serving global business partners, project owners, financial investors, and energy consumers. Starry plans to build a reliable and efficient blockchain platform which allows customers to easily trade distributed energy by using blockchain technology and the Internet of Things.

About Recon Technology, Ltd.

Recon Technology, Ltd. (NASDAQ: Recon) is China’s first listed non-state owned oil and gasoline subject service firm on NASDAQ. Recon provides China’s largest oil exploration firms, Sinopec (NYSE: SNP) and CNPC, with superior automated applied sciences, environment friendly gathering and transportation gear and reservoir stimulation measure for growing petroleum extraction ranges, decreasing impurities and reducing manufacturing prices. By way of the years, Recon has taken main positions on a number of segmented markets of the oil and gasoline filed service trade. Recon additionally has developed secure long-term cooperation relationship with its main shoppers, and its merchandise and repair are additionally effectively accepted by shoppers. For added info please go to: www.recon.cn.

Ahead Trying Statements

Ahead-Trying Statements on this press launch, which aren’t historic information, are forward-looking statements throughout the that means of the Personal Securities Litigation Reform Act of 1995. Our precise outcomes, efficiency or achievements could differ materially from these expressed or implied by these forward-looking statements. In some instances, you’ll be able to determine forward-looking statements by means of phrases resembling “could,” “may,” “anticipate,” “intend,” “plan,” “search,” “anticipate,” “consider,” “estimate,” “predict,” “potential,” “proceed,” “possible,” “will,” “would” and variations of those phrases and comparable expressions, or the destructive of those phrases or comparable expressions. Such forward-looking statements are essentially based mostly upon estimates and assumptions that, whereas thought of cheap by us and our administration, are inherently unsure. Components that will trigger precise outcomes to vary materially from present expectations embrace, amongst others, ranges of spending in our trade in addition to client confidence usually; modifications within the aggressive surroundings in our trade and the markets the place we function; our skill to entry the capital markets; the outcomes of cooperation underneath the share trade settlement; our skill to profit from such cooperation as a shareholder of Starry; operation and plans of Starry; and different dangers mentioned within the Firm’s filings with the U.S. Securities and Trade Fee, together with our Annual Report on Type 20-F, which filings can be found from the SEC. We warning you to not place undue reliance on any forward-looking statements, that are made as of the date of this press launch. We undertake no obligation to replace publicly any of those forward-looking statements to mirror precise outcomes, new info or future occasions, modifications in assumptions or modifications in different elements affecting forward-looking statements, besides to the extent required by relevant legal guidelines. If we replace a number of forward-looking statements, no inference needs to be drawn that we are going to make extra updates with respect to these or different forward-looking statements.

For extra info, please contact:Ms. Liu JiaChief Monetary OfficerRecon Know-how, LtdCellphone: +86 (10) 8494-5188E mail: [email protected]

SOURCE Recon Know-how, Ltd.

Associated Hyperlinks

http://www.recon.cn/



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