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Recon Updates Progress on its Technology-Driven Solutions for Electric Submersible Progressing Cavity Pump with $5 Million Orders Secured

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BEIJING, June 11, 2021 /PRNewswire/ — Recon Technology, Ltd (NASDAQ: RCON) (“Recon” or the “Company”) today announced that its subsidiary, Beijing BHD Petroleum Technology Limited, signed two contracts with North China E&P Company (the “North China Branch”) of China Petroleum & Chemical Corporation (“Sinopec”). Pursuant to these two contracts, the Company has provided technical service with ultra-deep electric submersible progressing cavity pump (“ESPCP”) to one gas well at the Dongsheng Field of the Second Gas Production Plant (the “Plant No. 2”) of the North China Branch and will provide the same service to another gas well at the Plant No. 2. Total amount of these two contracts is RMB 3,277,000 (approximately $0.51 million).

Management Statement

“We are extremely excited to make more breakthroughs in the ultra-deep submersible progressing cavity pump business,” said Mr. Guangqiang Chen, founder and CTO of Recon, “Since last year when we signed a contract with the North China Branch and completed our first trial, we have now signed service contracts for RMB5.077 million (approximately $0.8 million) with the North China Branch for three gas wells. We are in the process of communicating with the North China Branch for ESPCP and related services for 15 more wells and expect to complete services by the end of calendar year 2021. Added together, we expect these services will bring us about $5 million of income.”

Mr. Chen continued, “Beyond our own AI-based technology, we further integrated and upgraded downhole gas-liquid separation metering technology with equipment such as the ultra-deep screw pump from National Oilwell Varco Inc. (NYSE: NOV) and the downhole multi-parameter sensing devices from Power Max Petroleum Technologies Ltd, a Canada based company. We completed the construction for one gas well at Plant No. 2 with our comprehensive solution by April 16, 2021. According to our observation and testing for almost two months, the drainage and gas boosting effect has been stable, and the production status of the whole set of equipment has been reliable. Without this solution, submersible pumps used by oil companies generally have a working life cycle of only three months, after which time sand jams and equipment wear tend to result in interruption of gas well production. As a result, oil and gas companies incur costly inspection and repair fees. Our solution is expected to guarantee stable operation for more than one year, thus saving the high inspection and repair service costs, equipment and accessories replacement costs, electricity costs and sewage treatment costs. Taken together, our solution can help our clients increase their margin by up to 40%. We held an on-site technical exchange and promotion meeting with the North China Branch on May 20, 2021 and we were told that the North China Branch will promote our ultra-deep screw pump same well recovery and injection technology to all the new gas wells to be invested by the North China Branch. In the future, we plan to continue upgrading our technology in the same well recovery and injection business to provide more value-added services to our clients, and bring more long term returns to the Company.”

About Recon Technology, Ltd

Recon Technology, Ltd (NASDAQ: Recon) 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 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, Recon has taken leading positions on several segmented markets of the oil and gas filed service industry. Recon also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: www.recon.cn.

Forward Looking Statements 

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, whether we will sign any additional contracts with the North China Branch, the final revenue from providing services to the North China Branch, actual results of our solutions in the field, levels of spending in our industry as well as consumer confidence generally; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

For more information, please contact:

Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5188
Email: [email protected]

SOURCE Recon Technology, Ltd.

Related Links

http://www.recon.cn/

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Energy

Les meilleures start-ups pour la ville durable du monde récompensées par le Future Hamburg Award

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HAMBOURG, Allemagne, 13 juin 2021 /PRNewswire/ — Le prix Future Hamburg Award 2021 a été remis lors de la journée internationale de l’innovation numérique par Plug-and-Play Hamburg le 10 juin 2021.

Les startups Breeze Technologies, traceless materials et Infinite Mobility sont les lauréats de cette année. Basés en Norvège et en Allemagne, elles ont convaincu le jury avec des solutions intelligentes pour des villes durables. Les trois gagnants rejoindront un programme sur mesure à Hambourg, créé par la Startup-Unit de la ville. Pour la première place, Breeze Technologies participera au programme international d’accélération Plug-and-Play dans la Silicon Valley. Des entreprises prometteuses de 15 pays avaient déposé leur candidature pour le prix. Les prix bonus, décernés par homePORT, partenaire du prix, ont été attribués à Blue Atlas Robotics (Danemark) et KONVOI (Allemagne).

Lauréats du Future Hamburg Award 2021 :

  1. Breeze Technologies, Allemagne
    Basée à Hambourg et à Copenhague, Breeze Technologies est déjà un leader technologique dans le domaine des capteurs, des données et de l’analyse de la qualité de l’air. Leurs capteurs permettent de surveiller la qualité de l’air en temps réel et à l’échelle d’une zone, que ce soit dans des locaux professionnels ou dans des environnements urbains. En associant un modèle commercial performant à la lutte contre la pollution atmosphérique, Breeze Technologies a le potentiel pour se développer à l’échelle internationale. www.breeze-technologies.de
  2. traceless materials, Allemagne
    traceless materials a créé une alternative écologique au plastique. Avec son produit de substitution innovant, la startup spécialisée dans la bioéconomie contribue à résoudre le problème mondial de la pollution environnementale. Cette technologie utilise des sous-produits de l’industrie agricole pour produire des films stables au stockage, des matériaux solides et des revêtements très fins qui sont entièrement compostables. www.traceless.eu
  3. Infinite Mobility, Norvège
    Infinite Mobility développe des véhicules légers, alimentés par l’énergie solaire, pour la mobilité urbaine, pour de courts trajets en ville. L’entreprise soutient les objectifs de développement durable des Nations unies et le développement de villes durables, car ses tuk-tuks innovants fonctionnant à l’énergie solaire sont rentables, sûrs et peu encombrants. www.infinite-m.no.

Depuis 2019 et pour la deuxième fois, le prix Future Hamburg Award est décerné par Hamburg Marketing pour la ville de Hambourg. En tant que centre de la mobilité innovante, Hambourg accueille le congrès mondial ITS 2021. Avec la région métropolitaine du nord de l’Allemagne qui l’entoure, Hambourg est en passe de devenir la plaque tournante de l’hydrogène vert en Europe. Cela fait de la deuxième plus grande ville d’Allemagne le lieu idéal pour les innovations et l’accès aux marchés internationaux.

Plus d’informations : https://future.hamburg/future-hamburg-award.

– La photo est disponible sur AP Images (http://www.apimages.com) –

Contact :

Hamburg Marketing GmbH
Matthias Beer
[email protected]

Related Links

https://marketing.hamburg.de/

SOURCE Hamburg Marketing GmbH

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Energy

Las mejores «startups» del mundo en pro de la ciudad sostenible, galardonadas con el Future Hamburg Award

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HAMBURGO, Alemania, 13 de junio de 2021 /PRNewswire/ — El galardón se presentó en el Día Internacional de la Innovación digital de Plug-and-Play Hamburg el 10 de junio de 2021.

Las empresas emergentes Breeze Technologies, traceless materials e Infinite Mobility son las ganadoras de este año. Con sede en Noruega y Alemania, convencieron al jurado con soluciones inteligentes para ciudades sostenibles. Las tres empresas ganadoras se incorporarán a un programa hecho a medida en Hamburgo por la Startup-Unit de la ciudad. Como ganadora del primer premio, Breeze Technologies participará en el programa acelerador internacional de Plug-and-Play en Silicon Valley. A este galardón se habían presentado empresas prometedoras de 15 países. Los premios adicionales, otorgados por el socio del galardón, homePORT, se otorgaron a Blue Atlas Robotics (Dinamarca) y KONVOI (Alemania).

Ganadores del galardón Future Hamburg Award 2021: 

  1. Breeze Technologies, Alemania 
    Con sede en Hamburgo y Copenhague, Breeze Technologies ya es un líder tecnológico en el ámbito de los sensores, los datos y los análisis de la calidad del aire. Sus sensores permiten controlar en tiempo real la calidad del aire en toda la zona, ya sea en instalaciones empresariales o en entornos urbanos. Combinando un modelo de negocio de éxito con los esfuerzos para reducir la contaminación atmosférica, Breeze Technologies tiene potencial para prosperar a nivel internacional. www.breeze-technologies.de
  2. traceless materials, Alemania 
    traceless materials ha creado una alternativa ecológica al plástico. Con su innovador producto sustitutivo, la empresa emergente de bioeconomía contribuye a resolver el problema mundial de la contaminación ambiental. La tecnología utiliza subproductos de la industria agrícola para obtener películas estables de almacenamiento, materiales sólidos y revestimientos muy finos que son totalmente compostables. www.traceless.eu
  3. Infinite Mobility, Noruega
    Infinite Mobility desarrolla vehículos ligeros de movilidad urbana impulsados por energía solar para trayectos cortos por el centro de la ciudad. La empresa respalda los Objetivos de Desarrollo Sostenible de la ONU y el desarrollo de ciudades sostenibles, ya que sus innovadores «tuk-tuk», impulsados por energía solar, son rentables, seguros y ocupan poco espacio.www.infinite-m.no.

El galardón Future Hamburg Award, que se celebra por segunda vez desde 2019, lo otorga Hamburg Marketing en nombre de la ciudad de Hamburgo. Como centro de la movilidad innovadora, Hamburgo acoge el Congreso Mundial de ITS 2021. En el norte de Alemania, Hamburgo y la región metropolitana circundante están en vías de convertirse en el centro del hidrógeno ecológico de Europa. Esto hace que la segunda ciudad más grande de Alemania sea el lugar ideal para la innovación y el acceso al mercado internacional.

Más información: https://future.hamburg/future-hamburg-award.

– La imagen está disponible en AP Images (http://www.apimages.com) –

Contacto:
Hamburg Marketing GmbH
Matthias Beer
[email protected]

Related Links

https://marketing.hamburg.de/

SOURCE Hamburg Marketing GmbH

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Energy

Nuclear waste recycling is a critical avenue of energy innovation

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No single question bedevils American energy and environmental policy more than nuclear waste. No, not even a changing climate, which may be a wicked problem but nonetheless receives a great deal of counter-bedeviling attention.

It’s difficult to paint the picture with a straight face. Let’s start with three main elements of the story.

First, nuclear power plants in the United States generate about 2,000 metric tons of nuclear waste (or “spent fuel”) per year. Due to its inherent radioactivity, it is carefully stored at various sites around the country.

Second, the federal government is in charge of figuring out what to do with it. In fact, power plant operators have paid over $40 billion into the Nuclear Waste Fund so that the government can handle it. The idea was to bury it in the “deep geological repository” embodied by Yucca Mountain, Nevada, but this has proved politically impossible. Nevertheless, $15 billion was spent on the scoping.

Third, due to the Energy Department’s inability to manage this waste, it simply accumulates. According to that agency’s most recent data release, some 80,000 metric tons of spent fuel—hundreds of thousands of fuel assemblies containing millions of fuel rods—is waiting for a final destination.

And here’s the twist ending: those nuclear plant operators sued the government for breach of contract and, in 2013, they won. Several hundred million dollars is now paid out to them each year by the U.S. Treasury, as part of a series of settlements and judgments. The running total is over $8 billion.

I realize this story sounds a little crazy. Am I really saying that the U.S. government collected billions of dollars to manage nuclear waste, then spent billions of dollars on a feasibility study only to stick it on the shelf, and now is paying even more billions of dollars for this failure? Yes, I am.

Fortunately, all of the aggregated waste occupies a relatively small area and temporary storage exists. Without an urgent reason to act, policymakers generally will not.

While attempts to find long-term storage will continue, policymakers should look towards recycling some of this “waste” into usable fuel. This is actually an old idea. Only a small fraction of nuclear fuel is consumed to generate electricity.

Proponents of recycling envision reactors that use “reprocessed” spent fuel, extracting energy from the 90% of it leftover after burn-up. Even its critics admit that the underlying chemistry, physics, and engineering of recycling are technically feasible, and instead assail the disputable economics and perceived security risks.

So-called Generation IV reactors come in all shapes and sizes. The designs have been around for years—in some respects, all the way back to the dawn of nuclear energy—but light-water reactors have dominated the field for a variety of political, economic, and strategic reasons. For example, Southern Company’s twin conventional pressurized water reactors under construction in Georgia each boast a capacity of just over 1,000-megawatt (or 1 gigawatt), standard for Westinghouse’s AP 1000 design.

In contrast, next-generation plant designs are a fraction of the size and capacity, and also may use different cooling systems: Oregon-based NuScale Power’s 77-megawatt small modular reactor, San Diego-based General Atomics’ 50-megawatt helium-cooled fast modular reactor, Alameda-based Kairos Power’s 140-megawatt molten fluoride salt reactor, and so on all have different configurations that can fit different business and policy objectives.

Many Gen-IV designs can either explicitly recycle used fuel or be configured to do so. On June 3, TerraPower (backed by Bill Gates), GE Hitachi, and the State of Wyoming announced an agreement to build a demonstration of the 345-megawatt Natrium design, a sodium-cooled fast reactor.

Natrium is technically capable of recycling fuel for generation. California-based Oklo has already reached an agreement with Idaho National Laboratory to operate its 1.5-megawatt “microreactor” off of used-fuel supplies. In fact, the self-professed “preferred fuel” for New York-based Elysium Industries’ molten salt reactor design is spent nuclear fuel and Alabama-based Flibe Energy advertises the waste-burning capability of its thorium reactor design.

Whether advanced reactors rise or fall does not depend on resolving the nuclear waste deadlock. Though such reactors may be able to consume spent fuel, they don’t necessarily have to. Nonetheless, incentivizing waste recycling would improve their economics.

“Incentivize” here is code for “pay.” Policymakers should consider ways that Washington can make it more profitable for a power plant to recycle fuel than to import it—from Canada, Kazakhstan, Australia, Russia, and other countries.

Political support for advanced nuclear technology, including recycling, is deeper than might be expected. In 2019, the Senate confirmed Dr. Rita Baranwal as the Assistant Secretary for Nuclear Energy at the Department of Energy (DOE). A materials scientist by training, she emerged as a champion of recycling.

The new Biden administration has continued broadly bipartisan support for advanced nuclear reactors in proposing in its Fiscal Year 2022 Budget Request to increase funding for the DOE’s Office of Nuclear Energy by nearly $350 million. The proposal includes specific funding increases for researching and developing reactor concepts (plus $32 million), fuel cycle R&D (plus $59 million), and advanced reactor demonstration (plus $120 million), and tripling funding for the Versatile Test Reactor (from $45 million to $145 million, year over year).

In May, the DOE’s Advanced Research Projects Agency-Energy (ARPA-E) announced a new $40 million program to support research in “optimizing” waste and disposal from advanced reactors, including through waste recycling. Importantly, the announcement explicitly states that the lack of a solution to nuclear waste today “poses a challenge” to the future of Gen-IV reactors.

The debate is a reminder that recycling in general is a very messy process. It is chemical-, machine-, and energy-intensive. Recycling of all kinds, from critical minerals to plastic bottles, produces new waste, too. Today, federal and state governments are quite active in recycling these other waste streams, and they should be equally involved in nuclear waste.

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Source: https://techcrunch.com/2021/06/13/nuclear-waste-recycling-is-a-critical-avenue-of-energy-innovation/

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Energy

Společnost Risen Energy představila na veletrhu SNEC 2021 první masově vyráběný 700 W vysoce účinný napájecí modul NewT@N

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Modul [email protected] je motorem globální zelené energetické revoluce a zahajuje éru čistých nulových emisí  

NINGBO, Čína, 12. června 2021  /PRNewswire/ — Uprostřed nabitého veletrhu SNEC 2021 upoutala společnost Risen Energy Co., Ltd. („Risen Energy”), přední výrobce vysoce výkonných solárních fotovoltaických produktů úrovně 1, pozornost vystavovatelů i účastníků uvedením modulu [email protected], prvního sériově vyráběného solárního modulu s výkonem až 700 W.

Modul [email protected], který byl představen 3. června, znamená příchod éry fotovoltaiky 7.0 a slibuje stabilnější výkon a vyšší produkci energie na jediném křemíkovém plátku o velikosti 210 mm. [email protected] je zkratka pro technologii nazvanou „Nové tunelování oxidu / amorfního křemíku (@) typu N”. Znak „@” znamená kombinovanou pasivaci oxidu (o) a amorfního křemíku (a). Díky technologii [email protected] je společnost Risen Energy schopna vyřešit problém vysoké míry povrchové rekombinace tradičních PERC článků na kovových plochách, což zlepšuje elektromotorické napětí a účinnost článků. [email protected] je nejnovějším příkladem toho, jak společnost Risen Energy využívá svou špičkovou technologii modulů k uspokojení rostoucí celosvětové poptávky po zelené energetické revoluci a přispívá k dosažení cíle čistých nulových emisí.

„S tím, jak svět postupuje v cestě k uhlíkově neutrální budoucnosti, roste instalovaná kapacita zelené energie rychlým tempem. Na trhu se objevily stovky nových společností a fotovoltaický průmysl čelí nebývalému nárůstu příležitostí a výzev. Ve společnosti Risen Energy nám naše vědecké výzkumné instituce na národní úrovni a mezinárodně certifikované laboratoře umožnily stát v čele této transformace. S našimi nejnovějšími fotovoltaickými moduly, založenými na platformě 210 mm křemíkových destiček, můžeme účinně snížit náklady na kilowatthodinu, generovat nejvyšší možné příjmy pro zákazníky a přispět ke globálnímu snížení uhlíkových emisí,” uvedla společnost.

Vysoce výkonný solární modul [email protected] 700 W využívá pokročilé technologie, jako je nedestruktivní řezání naříznutých solárních článků, vícenásobné sběrnice (MBB) a balení s vysokou hustotou, které zlepšují účinnost a účinně snižují riziko praskání článků a vzniku míst přehřívání. Modul navíc kombinuje výhody a doplňuje technologie solárních článků nové generace TOPCon a HJT. Díky tomu se [email protected] může pochlubit celkovou účinností modulu 22,5 % a kontrolovanými náklady v rámci standardů hromadné výroby.

[email protected] je také zářným příkladem nové nízkonapěťové, vysokoproudové řady společnosti Risen Energy. Nízkonapěťové výrobky, jako jsou křemíkové destičky o velikosti 210 mm, zvládnou vyšší zátěž a pojmou větší instalovanou kapacitu. Podle odhadů ve srovnání s tradičními moduly o velikosti 182 mm a výkonu 540 W zvyšuje [email protected] výrazně účinnost výroby energie a stabilní výkon a současně snižuje náklady. Díky modulu lze snížit podlahovou plochu o 6,6 % a zvýšit instalovaný výkon o 29,63 %, což znamená snížení celkových nákladů BOS o 6,68 až 8,95 % a nákladů LCOE o 4,84 až 6,16 %.

S blížící se érou fotovoltaiky 7.0 je uvedení modulu [email protected] připraveno posunout odvětví na novou úroveň. Do budoucna bude společnost Risen Energy i nadále využívat své špičkové technologie, aby udržela krok se současnými odbytišti pro výrobu energie, podpořila snižování nákladů LCOE a v konečném důsledku přinesla zákazníkům větší výhody. Zároveň bude společnost neustále investovat do výzkumu a vývoje s cílem splnit požadavky zelené energetické revoluce a zahájit globální éru čistých nulových emisí.

O společnosti Risen Energy

Společnost Risen Energy je předním světovým výrobcem vysoce výkonných fotovoltaických produktů úrovně 1 s hodnocením „AAA” a poskytovatelem komplexních obchodních řešení pro výrobu energie. Společnost, která byla založena v roce 1986 a v roce 2010 vstoupila na burzu, vytváří hodnoty pro své globální zákazníky. Technické a obchodní inovace, spolu se špičkovou kvalitou a podporou, přinášejí komplexní obchodní řešení společnosti Risen Energy v oblasti fotovoltaiky, která patří k nejvýkonnějším a nákladově nejefektivnějším v oboru. Díky přítomnosti na místním trhu a silnému finančnímu zázemí jsme odhodláni a schopni budovat strategickou, oboustranně výhodnou spolupráci s našimi partnery a společně využít rostoucí hodnotu zelené energie.

Related Links

www.risenenergy.com

SOURCE Risen Energy Co., Ltd

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