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Recon Announces Investment to Build an Integrated Solar Storage Charging Network with CNPC Shan Dong Branch
BEIJING, Nov. 22, 2021 /PRNewswire/ -- Recon Technology Limited (NASDAQ: RCON) ("Recon" or the "Company") announced the Company's investment this month in
About this update from Recon Technology, Ltd.
[{"type":"text","content":"BEIJING, Nov. 22, 2021 /PRNewswire/ -- Recon Technology Limited (NASDAQ: RCON) (\"Recon\" or the \"Company\") announced the Company's investment this month in Shandong Zhong You Yun Xin Information Technology Company Limited (\"Zhong You Yun Xin\"), a PetroChina affiliate in Shandong Province, with a 10% shareholder interest. The company's primary mission is to accelerating the transition to clean energy and sustainable technologies based on the shareholders' and management team's extensive experience sound understanding of the future trends in energy industry, and will soon deploy its first pilot project in Shandong Province in China.\nAbout The Solutions\nIn June and July 2021, Tesla China opened its all-in-one solar storage charging stations in Shanghai and Lhasa, respectively. The stations generate electricity through the solar roof system and store the electricity in the charging station's battery modules which would be used for charging the Tesla electric vehicles daily and improving the efficiency of energy use along with achieving energy self-sufficiency. Solar charging panels, energy storage batteries, and charging facilities form a micro-electric grid, which altogether complete the sustainable use of clean energy.\nRecon recently launched an updated energy solution based on the integrated microgrid with components of \"solar + storage + charging\". Compared to Tesla and other leading companies' solutions in the new energy industry, we have a significant advantage in the solar energy storage and charging integrated track which is highlighted by the number of energy station outlets and advantages with the openness in partnership selection. Recon has been cultivating the industry for decades and complying with the national policy, leading us to choose to work together with PetroChina in order to complete the upgrade and transformation of existing gas stations infrastructure through a way of \"smaller, faster, asset-lightweight\". In China, it is difficult and time-consuming to obtain approval of new lands for the construction of a complete new station like Tesla's model. Meanwhile, our solution has an advantage of non-significant investment, fast transformation, and most importantly, a more open charging network that is not limited to an exclusive brand.\nManagement Statement\n\"We are so pleased to be one of the sharehol...