BEIJING, Dec. 28,
2022 /PRNewswire/ -- Luokung Technology Corp.
(NASDAQ: LKCO) ("Luokung" or the "Company"), a leading
spatial-temporal intelligent big data services company and provider
of interactive location-based services ("LBS") in China, today announced that its operating
affiliate, Luokung Remote Sensing Technology Co., Ltd. ("Luokung
Remote Sensing") has signed agreements with the government of
PingYuan county, MeiZhou city in Guangdong province to provide carbon sink
project development and carbon emission and carbon neutrality data
services covering the entire county, including but not limited to
the fields of forestry, agriculture, grasslands, wetlands, clean
energy and industry. Luokung's carbon peaking and carbon neutrality
("dual carbon") data service model, which includes the
PingYuan project, has been replicated
in several counties across the country. Forecasting based
on existing contracts, we project that over 10 million tons of
carbon assets will be traded on the market in the next five years,
with revenue of more than US$70
million for the company.
Facilitated by the multi-source heterogeneous spatial-temporal
big data processing capabilities, intelligent real-time remote
sensing service technology and advanced self-developed algorithms
integrating with dynamic remote sensing data, Luokung has formed
its "dual carbon" data service platform with coverage of
multi-fields, multi-timelines and multi-space lines, enabling local
governments to establish cost-efficient, accurate and effective
systems for carbon sink accounting, carbon emission monitoring and
natural resources investigation and monitoring, enabling the
Company to participate in the carbon assets trading market under
the VCS/CCER protocols. The Company expects its new product to meet
the needs of local governments to achieve positive outcomes for
natural resource conservation and economic development.
Mr. Xuesong Song, Luokung's
Chairman and CEO, stated: "We are pleased to announce that one of
Luokung's business sectors, carbon neutrality and natural resources
management, has made significant progress. With the active
expansion in this area in the last six months, the Company has
served many counties across the country as a "dual carbon" data
service provider, which we believe is a testament of the market's
trust and recognition of Luokung's capabilities in carbon
neutrality and natural resource management data services. There are
nearly 3,000 counties in China,
which represents a tremendous market potential for further
expansion. Luokung is prepared to build upon the positive momentum
and plans to continue to take an active role in net zero
emissions and sustainable development.
About Luokung Technology Corp.
Luokung Technology Corp. is a leading spatial-temporal
intelligent big data services company, as well as a leading
provider of LBS for various industries in China. Backed by its proprietary technologies
and expertise in multi-sourced intelligent spatial-temporal big
data, Luokung has established city-level and industry-level
holographic spatial-temporal digital twin systems and actively
serves industries including smart transportation (autonomous
driving, smart highway and vehicle-road collaboration), natural
resource asset management (carbon neutral and environmental
protection remote sensing data service), and LBS smart industry
applications (mobile Internet LBS, smart travel, smart logistics,
new infrastructure, smart cities, emergency rescue, among others).
The Company routinely provides important updates on its website:
https://www.luokung.com.
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SOURCE Luokung Technology Corp.