BEIJING, Jan. 24, 2019 /PRNewswire/ -- Luokung Technology Corp. (LKCO) ("Luokung" or the "Company"), a global leading graphics data processing technology company, a leading interactive location-based services company in China, today announced its strategic cooperation with the National Engineering Research Center for Remote Sensing Applications ("the Engineering Center"), which is China's national level center of scientific research and development, technological innovation and industrialization in the area of remote sensing application. The two parties are pleased to jointly establish a national level "Spatial-temporal Data Research Center" which will allow the parties to access synergies and complementary advantages and achieve further development in the spatial temporal data industry.
Both government and industry users' demand for remote sensing big data is expanding rapidly as the commercialization of remote sensing satellite data and the One-Stop application of this data is now in significant demand in the market. The Engineering Center is supported by the Institute of Remote Sensing and Digital Earth Chinese Academy of Sciences, and it possesses the mega satellite remote sensing data collected from 1986 until now from global satellites (including French SPOT satellite series, the USA Landsat series, the Indian IRS-P6, the European Space Agency ENVISAT-1 and the Canadian RADARSAT series) through the China Remote Sensing Ground Station. Based on its proprietary mega satellite remote sensing data, its strong research strength, scientific achievements and technical applications, Luokung is receiving the full support necessary to realize the scientific research and development, technological innovation and industrialization in the area of remote sensing application. Both parties will cooperate fully and closely to establish the One-Stop application platform for national remote sensing big data.
Based on Luokung's non-slicing technology supported by a series of its proprietary patents, PB (PB: Petabyte) sized image data is allowed to be released in seconds, the actual effect of image data rendered can be presented in real time. Luokung's technology provides a strong performance guarantee and a solid technical foundation for the instant distribution of mega image data and automated lifecycle management.
Both parties will cooperate fully and closely in the domain of spatial-temporal data with respect to their industry resources and R&D achievements in order to build the remote sensing big data application platform to fulfill the market needs. In addition, the two parties will, in collaboration with distribution channels across the nation of high-resolution satellites' remote sensing data, build the industrialized remote sensing cloud service platform, which provides services on combining remote sensing data and subject-information, analytical and processing software, storage and computing equipment, and business application software. The cloud platform, with the remote sensing data service as its core, will make profit from the value-added services. The two parties will also vigorously collaborate to expand the remote sensing industry ecosystem, composed of "data, software, equipment and collaborative services to enable rapid industry service integration, promote on-demand need-based client servicing and profit sharing among service providers, in order to advance the industrialization of the next generation of remote sensing cloud services.
About Luokung Technology Corp.
Luokung Technology Corp. is one of global leading graphics data processing technology company and a leading interactive location-based services company in China. The core brands of the Company are "Luokuang" and "SuperEngine". "Luokuang" is a mobile application to provide B2C services and "SuperEngine" provides B2B and B2G services in connection with Spatial-Temporal big data. The Company's mobile application LuoKuang, provides location- based interaction services for users based on the world's first non-slicing, full-vector and full-function mobile internet map, it also provides SDK embedded services to third-party mobile application providers based on its full-vector and non-slicing mobile internet map. The Company provides SaaS services in relation to spatial-temporal big data internet and internet of things relying on its proprietary patented spatial-temporal cloud indexing technology, in fields including but not limited to HD Map, 3D Map, Satellite Remote Sensing Data and Real-time trajectory. For more information please go to http://www.luokung.com.
Business Risks and Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
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At the Company:
Mr. Jay Yu
Chief Financial Officer
SOURCE Luokung Technology Corp.