Recon Technology Limited announced that Future Gas Station (Beijing) Technology Ltd. (“FGS”), a mainland China variable interest entity’s subsidiary connected to the Company and a technology service vendor, has assisted a China-based oil sale company in launching a new product named “Carbon Neutral Box”, also known as “CNB”. The CNB is a consumer-side carbon inclusive mini program that enables vehicle owners for the first time achieve carbon neutrality based on the driver’s refueling activities at gas stations served by FGS. This is a meaningful attempt to empower the low-carbon operations of gas stations, to help vehicle owners practice low-carbon consumption, and to promote low-carbon product consumption.
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After refueling at a gas station, vehicle owners can automatically purchase carbon emission indicators based on the refueling volume through the CNB function on the “DT Fuel” phone mini program and obtain an electronic verification certification provided by the Bureau Veritas Certification (Beijing branch). In addition, vehicle owners may also achieve carbon neutrality by purchasing low-carbon commodities from the online store in CNB mini program.
Mr. Song Yang, founder of FGS, said, “Previously, there was no consumer-based carbon neutrality certificates issued in China. Since the feature went live on January 18, 2022, 289 vehicle owners have been provided with carbon neutral fueling services and verified certifications at the East Central Road gas station, and have offsetted a total of 23.57 tons of CO2 to date. We are pleased to continue our work with a major oil sale company again in jointly launching a consumption-side based carbon neutral solution for gas stations, and proposing an effective solution to drive carbon reduction in the energy sector. This is not only a new business investment for FGS, but also a demonstration of our comprehensive product capability as a technology services company.
Mr. Song continued, ” In China, 110,000 gas stations served 27 million vehicle owners every day and generated fuel carbon emissions of 2.2 million tons of CO2 per day, with the cumulative annual carbon emissions from oil combustion of 800 million tons of CO2. This accounted for 8.1% of the total carbon emissions in China. It is a major challenge as well as a great opportunity to encourage car owners to join in the low-carbon consumption behavior by reasonably quantifying their energy-saving and carbon-reducing behavior through a new technology platform and introducing attractive incentive mechanisms, such as launching targeted low-carbon consumption promotions and selling low-carbon products. By empowering gas stations with more and more real-time tools for data-based operations and helping gas stations achieve low-carbon operations and fully exploiting the carbon reduction potential on the consumption side, we can not only better help our customers fulfill their corporate missions and help them innovate to meet social needs and fulfill their corporate social responsibility, but also enhance their recognition of and reliance on FGS’s solutions and further improve our profit model and development potential”.