Recon Technology, Ltd. (NASDAQ:RCON) subsidiary Recon BJ has entered into a strategic partnership with Changxia Digital Energy Technology (Hubei) Co. to drive innovation in the petroleum and petrochemical sectors.
Changxia Digital Energy is an affiliate of China Three Gorges Corporation (CTG), a clean energy group focused on large-scale hydropower development and operation.
The collaboration will focus on several key areas, including distributed/centralized PV, PV-to-electric vehicle charging, and energy storage, among others.
After signing this agreement, the joint projects will be determined through independent proposals and contracts.
"Recon is excited about this strategic partnership with Changxia Digital Energy, and remains committed to driving innovation and contributing to the green energy transformation of the petroleum and petrochemical industry," Shenping Yin, CEO of Recon said.
Price Action: RCON shares are trading higher by 2.53% to $0.3524 on the last check Monday.