SOURCE: Dragon Capital Group Corp.

September 03, 2009 08:00 ET

Dragon Capital Group's Subsidiary Receives Award for Technology Achievement by Shanghai Municipal Government for Development of City Gas Pipeline Risk Assessment System

Shanghai Yastand Information Technology Company, Ltd. Developed the Technology for Shanghai North Gas Company, Limited

SHANGHAI, CHINA--(Marketwire - September 3, 2009) - Dragon Capital Group Corp. (PINKSHEETS: DRGV), a leading holding company of emerging high-tech companies in China, announced today that its subsidiary, Shanghai Yastand Information Technology Company, Limited ("Shanghai Yastand"), has received an award for technology achievement from Shanghai Municipal Government for developing a city gas pipeline risk assessment system. In addition, Shanghai Yastand has renewed its agreement with Shanghai North Gas Company, Limited to fully implement the pipeline risk assessment system which monitors Shanghai North Gas's 5,280-kilometer underground gas pipelines in north metropolitan areas of Shanghai.

The new risk monitoring system will allow Shanghai North Gas Company to monitor any potential breakdown in the underground gas pipelines by detecting gas leakages without the need for additional expenses and works. The new system will provide tremendous economic and environmental benefits by detecting early stage gas leaks enabling quick repair responses to significantly reduce gas losses. Shanghai Yastand developed this system in 2005 and obtained copyrights from National Copyright Bureau of China in 2006.

Chairman and CEO, Lawrence Wang, stated, "We are very excited about the potential of this technology which we intend to market to numerous metropolitan areas in China. We believe there is a vast untapped market for this technology and we intend to aggressively pursue this opportunity. We intend to actively market our system and technology in over 2,000 metropolitan areas in China in the next few years which could have a substantial positive impact on our company's operating results should we prove to be successful."

About Dragon Capital Group Corp.

Dragon Capital Group Corp. (PINKSHEETS: DRGV) is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. DRGV functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access to capital, merger & acquisition, business valuation, and revenue growth strategies. DRGV has developed a portfolio of high-tech companies operating in China. For more information about DRGV, please visit http://www.dragoncapital.us

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Contact Information

  • Contact:
    Dragon Capital Group
    Investor Relations
    Gary Liu
    954-363-7333, ext. 318