NEW YORK, Dec. 2, 2019 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company"), today announced that Ralph Hornblower III has been elected to be a new member of its Board of Directors.
Mr. Hornblower has had a diverse career in investment and merchant banking and as a practicing attorney. As a cum laude graduate of Harvard College and the University of Virginia Law School, Mr. Hornblower joined the US Department of Justice immediately upon graduation from law school and first worked as a trial attorney in the Special Litigation Section of the Department's Civil Rights Division. Under Attorneys General Edward Levi and Griffin Bell, he was appointed to the office with authority to oversee all matters of ethics and professional responsibility throughout the Justice Department following the Watergate cases of the mid-1970s.
After a period of private practice, Mr. Hornblower began his career as an investment professional at Alex Brown & Sons and at the Cape Cod Company. In 1998 he resumed active management of Hornblower & Company, LLC, an investment firm specializing in advising early-stage companies in the biomedical, alternative energy, health care, and transportation/logistics sectors. He is now the chairman of Hornblower & Company, LLC.
"Mr. Hornblower is an experienced and forward-thinking leader, and we are delighted that he has joined the board," said Mr. Shenping Yin, co-founder, and CEO of Recon. "Based on his more than 20 years of experience in energy industry, Recon can benefit greatly from his insights, judgment, and counsel to develop innovative energy solutions. We are making an effort in better compliance with the US rules and looking forward to new relationships with great partners."
"I'm delighted to join the Recon Board of Directors," said Mr. Hornblower. "I have spent considerable efforts doing the same over the last ten years advising energy executives from the Middle East, South Asia, Africa, and South America to consider cleaner natural and liquid petroleum gases, and other cleaner energy systems that are not entirely based on fossil fuels. I'm looking forward to assisting Recon in moving China and the rest of the world to a greener, more sustainable future."
About Recon Technology, Ltd.
Recon Technology, Ltd. (RCON) is China's first non-state-owned oil and gas field service company listed on NASDAQ. Recon supplies China's largest oil exploration companies with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measures for increasing petroleum extraction levels, reducing impurities and lowering production costs. Since 2017, the Company has expanded its business operations into other segments of the broader energy industry including electric power, coal chemicals, renewable energy and environmental protection in the energy and chemical industries. Through the years, Recon has taken leading positions on several market segments of the oil and gas field service industry. Recon also has developed stable long-term cooperation relationship with its major clients, and its products and service are well accepted by clients. For additional information please visit: www.recon.cn.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Dragon Gate Investment Partners LLC
SOURCE Recon Technology, Ltd.