HydrogenPro: Fruitful discussions with local government in China

HydrogenPro (Oslo: HYPRO) recently announced an investment in a 75 percent-owned technology and production facility in Tianjin, China. The company was shortly after that invited by the Tianjin Municipal Bureau of Commerce to their office to exchange information about the project.

Mr. He Zhi Neng of Tianjin Municipal Bureau of Commerce invited HydrogenPro to the meeting.
“The Tianjin Municipal Bureau of Commerce impressed us with their knowledge about hydrogen and the renewable energy sector. We met Mr. He and his team for a fruitful discussion that HydrogenPro really appreciated,” says Richard Espeseth, Chief Business Development Officer of HydrogenPro.

HydrogenPro recently reached an agreement with Tianjin HQY Hydrogen Machinery (THM), which has transferred its electrolyzers technology to a new company that is majority-owned by HydrogenPro. The first step is to expand the existing electrolyzer capacity up to 300MW in Tianjin, thereby completing the first major step of HydrogenPro’s global technology and fabrication plan.

Among several topics, the two parties discussed a 60,000-80,000 m2 plot where a future giga-factory may be located. Furthermore, they discussed how to reduce the CO2 footprint by powering the factory with solar panels.

THM has a long-standing history of producing electrolyzer components, parts, and systems as a supplier to the electrolyzer industry in China and has expanded into assembly and sales of complete electrolyzers over the past years.

“The production facility, which will be located in Tianjin, will be equipped with new machines which have already been purchased. It is expected to be ready for pilot production by the end of this month. We are very excited about this project, and we look forward to cooperating with the Tianjin Municipal Bureau of Commerce,” Espeseth concludes.

Author: KS

Source: HydrogenPro AS

Topic: Business News | Hydrogen News

Market: Hydrogen Stocks