Good news! -LOCO Co., Ltd. wins the first prize in the Second "Youth Innovation" China Youth Carbon Neutrality Innovation and Entrepreneurship Competition National Finals

　　From January 12th to 13th, 2024, the second "Youth Innovation" China Youth Carbon Neutrality Innovation and Entrepreneurship Competition national finals and awards ceremony, jointly organized by the China Youth Entrepreneurship and Employment Foundation, China University of Petroleum (Beijing), China National Petroleum Corporation, China Petrochemical Corporation, and China Offshore Oil Corporation, was held at CUPB. Launched in October 2023, this competition received over 5,000 team registrations from over 900 universities. After nearly 4 months and three rounds of selection (regional preliminary rounds, regional finals, and national preliminary rounds), a total of 72 teams from the innovation, entrepreneurship, and academic groups advanced to the national finals.

　　Attendees included Xiong Jian, Deputy Secretary of the Party Committee and Secretary-General of the China Youth Entrepreneurship and Employment Foundation; Liu Qiang, Deputy Director of the Beijing Future Science City Management Committee and Deputy District Head of Changping District; Cao Xinjian, Assistant General Manager of China Offshore Oil Corporation and Executive Vice President of CNOOC Limited; Zhang Jin, Secretary of the Communist Youth League Committee and Deputy Director of the Party and Mass Work Department of China National Petroleum Corporation; Liu Renjun, Deputy Secretary of the Communist Youth League Committee and Director of the Committee Office of China Petrochemical Corporation; Wu Xiaolin, President of China University of Petroleum (Beijing); Su Haijia, Vice President of Beijing University of Chemical Technology; representatives from Dalian Youth League Committee and Beijing Future Science City; and representatives of teachers from regional competition-hosting universities.

　　After fierce competition, the Low-Energy-Consumption Electrolytic Water Hydrogen Production System Project using Coupling Selective Oxidation, Xi'an LOCO Electronic Technology Co., Ltd., and the Innovative Breakthrough in High-Temperature Flue Gas Waste Heat ORC Power Generation Technology for Offshore Main Power Stations projects won the national first prize in the innovation, entrepreneurship, and academic groups respectively.

　　LOCO project closely revolves around the fundamental principle of prioritizing establishment before dismantling in the energy transition process under the "dual carbon" goals, enhancing the intelligence of domestic oil and gas exploration and development to help secure the nation's energy supply. Facing industry pain points such as "the inability of traditional oilfield injection and production processes to accurately control the amount of water injection and liquid production underground" and "the key technology bottleneck of the linkage between injection and production wells underground," it innovatively proposed an integrated monitoring, control, and communication intelligent production collaborative system. This allows the "eyes" and "hands" of reservoir development to extend to various layers, achieving remote real-time monitoring and control of parameters such as the layered flow rate and pressure of injection and production wells, resulting in energy saving, carbon reduction, increased production, and improved efficiency.

　　This is the second time LOCO has won an award in the national finals. Progressing from "first prize" in the first competition to "special prize" in the second, this demonstrates LOCO continuous exploration, breakthroughs, and innovation. In the future, the company will adhere to the corporate culture concept of "people-oriented and technology-leading," delving deeply and thoughtfully within the industry.