BEIJING, Oct. 16, 2017 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON), ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service, electric power and coal chemical industries, today announced that it has signed a three-year strategic cooperation agreement ("Agreement") with Beijing OriginWater Purification Engineering Technology Co., Ltd ("BOW Engineering"), a subsidiary of Beijing OriginWater Technology Co. Ltd. (Shenzhen Stock Exchange: 300070) ("BOW"). Pursuant to the Agreement, Recon Technology and BOW Engineering will cooperate to promote advanced sewage treatment technology in Chinese oilfield markets and to provide integrative solutions and services of superior quality and effectiveness to tackle industrial water pollution.
Recon Technology united with BOW Engineering to render effective waste water treatment solution for a PetroChina petroleum refinery earlier this year(The full text of the press release can be read here: http://recon.mediaroom.com/2017-05-30-Recon-Completes-an-Agreement-to-Provide-Wastewater-Treatment-Equipment-and-Solution-for-a-PetroChina-Petroleum-Refinery?pagetemplate=widgetpopup, and achieved superb results. Based on this prior success, both parties decided that a more comprehensive strategic relationship would be beneficial to their business development in this area.
Management Commentary
"We are excited about BOW Engineering's unique membrane technologies and rich experiences in sewage treatment industry," said Mr. Shenping Yin, CEO of Recon Technology. "Chinese government as well as large oil companies are dedicated to protecting the environmental during oil production and seeking more efficient techniques and equipment to realize cost-saving and meet increasingly stringent environmental protection requirement. Recon Technology has provided reliable and efficient technologies to China's major oilfield companies, such as CNPC and Sinopec, for years. Recon Technology has made some strides in oily sewage treatment for last two years. With its abundant market experience, deep insights and visions in oilfield markets, and support of BOW's team of specialists, we believe Recon will maintain research and technological advantages and deliver better performance."
About Beijing OriginWater Technology Co., Ltd. (Shenzhen Stock Exchange: 300070) and Beijing OriginWater Purification Engineering Technology Co., Ltd
Founded in 2001 and listed in Shenzhen market in 2010, Beijing OriginWater Technology Co. Ltd. is a one stop solution provider that has dedicated itself to resolving China's three main water issues: water pollution, water shortage and drinking water insecurity. BOW is one of the world biggest membrane tech R&D, manufacturing and application enterprises and is also the alpha dog of environmental protection enterprises on Growth Enterprises Exchange Market.
Beijing OriginWater Purification Engineering Technology Co., Ltd is an affiliation of Beijing OriginWater Technology Co. Ltd and focusing on render of complete resolutions of drinking water treatment to areas with fresh water supply threaten.
About Recon Technology, Ltd. (NASDAQ: RCON)
Recon Technology, Ltd. is China's first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China's largest oil exploration companies, Sinopec (NYSE: SNP) and 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 on several segmented markets of the oil and gas filed service industry. RCON also has developed stable long-term cooperation relationship with its major clients, and its products and service are also well accepted by clients. For additional information please visit: www.recon.cn .
Company Contact
Liu Jia, CFO
Recon Technology, Ltd.
+86 (10) 8494-5799
info@recon.cn
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