Luokung Launches "Carbon Peaking and Carbon Neutrality" Data Service with More than US$70 Million in Forecasted Revenue

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.