TL NATURAL GAS(08536) and Carbonis enter into a memorandum of understanding.

TL NATURAL GAS (08536) announces, on November 17, 2023, that the company has entered into a memorandum of understanding with Carbonis Inc. (Carbonis). According to the memorandum of understanding, the company and Carbonis intend to collaborate for mutual benefits, which may include but are not limited to the following aspects: Carbonis is required to provide advisory services and share its expertise and knowledge in carbon credit-related projects, including all types of carbon credit-related investments; Carbonis is to assist the company in fulfilling its carbon neutrality commitments and environmental, social, and governance reporting responsibilities; and the company and Carbonis will provide support to each other, including mutual assistance in promoting their businesses and sharing information on community activities. The group is primarily engaged in the sale of compressed natural gas and liquefied natural gas and provides transportation services in China. The board of directors believes that the collaboration with Carbonis will enable the group to lead in the carbon credit and carbon neutrality landscape, ensuring compliance with environmental, social, and governance reporting requirements and fulfilling carbon neutrality commitments. The proposed transactions under the memorandum of understanding, if implemented, are expected to bring new business opportunities to the group, in line with the overall interests of the company and its shareholders.