XI’AN,
CGA previously announced on
Lonestar Dream, founded in
Beyond its cryptocurrency ventures, Lonestar Dream has set its sights on future industrial expansion, recognizing the pivotal role of energy in powering emerging technologies like artificial intelligence. With plans to deploy more energy infrastructure, including the establishment of its first Energy Industrial Park by the end of 2024, Lonestar Dream is poised to lay the groundwork for the growth of cryptocurrencies and artificial intelligence. The proactive approach of Lonestar Dream is evident in its completion of over 30 site visits and extensive preliminary research in
In developing the Energy Industrial Park, Lonestar Dream is pioneering the deployment of the power ancillary service market, encompassing energy retailing, dispatching, and hedging. By seamlessly integrating the power ancillary service market with cryptocurrency mining operations, it ensures efficiency and synergy between the two sectors.
Recognizing the significance of the renewable energy sector, Lonestar Dream has strategically included it in its expansion plans. It has already embarked on initial ventures into battery energy storage (BESS) and solar energy, laying the groundwork for future developments in this promising field.
Overall, Lonestar Dream's ambitious vision for industrial expansion, its strategic initiatives in energy infrastructure, integration of renewable energy, and commitment to innovation position it as a pioneering force in the convergence of energy and technology.
Mr. Zhuoyu Li, Chairman and CEO of CGA, emphasized the strategic significance of the acquisition, highlighting Lonestar Dream's experienced management team, extensive product pipeline, and large customer base as key assets propelling CGA's expansion in the cryptocurrency industry. He stated, "The acquisition of Lonestar Dream represents a significant step forward in CGA’s business expansion. We are diligently working towards its completion and will provide timely updates to our shareholders and the broader public regarding the progress of this strategic initiative. I eagerly anticipate the growth opportunities this exciting new chapter brings for our Company."
About
The Company produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly owned subsidiaries, i.e.:
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the Company’s business, products and financial results. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions; development, shipment, market acceptance, additional competition from existing and new competitors; interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); technological advances, new products attained by competitors; challenges inherent in new product development; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of economies and sovereign risk; dependence on the effectiveness of the company’s protections for innovative products; the exposure to litigation and/or regulatory actions, and various other factors beyond the Company’s control. All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risk factors detailed in the Company’s reports filed with the
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