Conch venture successfully acquired Shaanxi Bangda oil sludge disposal project

  On May 13, 2020, conch venture and Shaanxi oufeide Environmental Protection Technology Co., Ltd. held an equity cooperation signing ceremony in Dingbian County, Yulin City, Shaanxi Province for the acquisition of its Shaanxi Bangda oil sludge disposal project. Guo Jingbin, chairman of conch venture, and bu Tao, chairman of ofed environmental protection signed an equity cooperation agreement on behalf of both parties. Zhang Bangzhi, Minister of safety and environmental protection department of conch venture, Wang Jianli, general manager of Yaobai environmental protection, Li Ximin, general manager of ofed environmental protection and other relevant leaders attended and witnessed the signing ceremony.

  On May 13, 2020, conch venture and Shaanxi oufeide Environmental Protection Technology Co., Ltd. acquired oufeide environmental protection company, committed to the research and development of technologies, equipment and processes for harmless treatment and resource utilization of oilfield hazardous wastes, and developed into a benchmark enterprise for oil sludge treatment in Northern Shaanxi with continuous technological innovation and process improvement, It has excellent independent R & D capability and mature business operation mode, with outstanding regional demonstration effect. BondA environmental protection company, a subsidiary of BondA environmental protection company, is the target company of this acquisition, focusing on the disposal of oil sludge hazardous waste. Among them, bio based water washing technology and biodegradable remediation technology are at the world-class level, which is a model of oil sludge disposal enterprises in Northern Shaanxi.

  After fully understanding the technical strength and development needs of Bangda environmental protection company, conch entrepreneurship increased its capital and acquired 70% of the equity of Bangda environmental protection, and reached a cooperative relationship with oufeide environmental protection with absolute control. The signing of this equity cooperation agreement marks that conch entrepreneurship has officially entered the oil sludge disposal industry. This acquisition is a crucial step for conch entrepreneurship to explore the field of oil sludge disposal and carry out national strategic layout. Behind it is the strategic thinking of conch entrepreneurship on the exploration of the company's development path. It is believed that the two sides will take this equity acquisition as an opportunity, take the market demand as the guidance, rely on the strong technical support of BondA environmental protection and the strong financial guarantee of conch entrepreneurship, and jointly promote the sustainable development of the environmental protection industry in the field of oil sludge disposal and comprehensive utilization of resources.

  At the signing ceremony, the two sides had in-depth exchanges on enterprise situation, development strategy, project advantages and cooperation vision.

  Bu Tao, chairman of oufeide environmental protection, introduced the basic situation of oufeide environmental protection and its BondA environmental protection company, as well as the strategic development vision of bilateral cooperation.

  With the mission of "repairing and disposing pollution and creating a green home", ofed environmental protection company has long been committed to the development and construction of environmental protection fields such as oil field, oil sludge recycling and harmless treatment, water treatment and soil remediation, and has a number of independent intellectual property rights. Conch entrepreneurship, as a leading enterprise in the environmental protection industry, has significant capital and technical advantages. He hoped that the two sides would adhere to the strategic objectives of complementary advantages, resource sharing and win-win cooperation, achieve in-depth cooperation in large environmental protection projects, high-level and wide fields, jointly expand the oil sludge disposal market and create a new chapter in the cause of environmental protection.

  Chairman Guo Jingbin introduced the basic situation and future development plan of conch entrepreneurship.

  He pointed out that in recent years, conch entrepreneurship has actively explored innovative development models, and has formed a two wheel drive environmental protection industry with the collaborative disposal of industrial solid and hazardous wastes in cement kilns and domestic waste incineration power generation in grate furnaces as the core, with a strong development momentum. At the same time, active strategic layout was made in the field of fly ash and oil sludge disposal, with remarkable results. He hoped that the two sides would innovate and carry out multi-level and all-round cooperation, jointly build a cooperation platform for oil sludge disposal and comprehensive utilization of waste, plan the development of the platform, take the northwest region as the starting point, and speed up the national strategic layout. It is believed that by giving full play to their respective advantages, the two sides will work together to optimize the sludge disposal process, improve the market layout, and further promote the business expansion and operation efficiency of the two sides.

  Previously, conch venture conducted due diligence on the production and operation, legal risks, warrant handling, project investment and assets and liabilities of Bangda environmental protection as of March 31, 2020.