Signing ceremony for Hydrogen Technology Co Ltd of China Energy Investment Group, 

East Lake Hi-tech Development Zone and Wuhan ITRI of Geo-Resources and Environment Co Ltd in Beijing 

Joining hands of three parties to facilitate hydrogen, lead and cultivate hydrogen ecology chain 

On Dec 6, Hydrogen Technology Co Ltd of China Energy Investment Group, East Lake Hi-tech Development Zone and Wuhan ITRI of Geo-Resources and Environment Co Ltd -- referred to after as China Hydrogen Technology, East Lake Hi-tech Zone and IGE, respectively -- held a grand signing ceremony in Beijing for a cooperation agreement.

Liu Wei, vice president of Guohua Investment Co Ltd of China Energy Investment Group, executive board member of China Hydrogen Technology Co Ltd; Qin Jun, section manager of the Financing Office of East Lake High-tech Zone; Hao Yiguo, chairman of IGE and Grove signed the agreement as representatives of the three parties. Cao Guangjing, Hubei provincial vice-governor; Wang Qiyang, director of Hubei Provincial Bureau of Economy and Information; Mi Shuhua, Party committee member and vice president of China Energy Group; as well as Xie Youquan, CPC secretary and chairman of Guohua Investment Co Ltd of China Energy Investment Group jointly witnessed the signing. 

Under the terms of the agreement, the three parties will have in-depth cooperation in terms of establishing an hydrogen industry ecology chain, cultivating leading hydrogen enterprises, the joint release of dedicated hydrogen investment fund, etc -- with a focus on the hydrogen industry chain and a base of capitals, so as to set up a competitive hydrogen supply chain and hydrogen application ecology chain to realize a synchronized and innovative development for the upstream and downstream hydrogen industry.

The documents signed at the ceremony concern a key project for the Strategic Cooperation Agreement signed between China Energy Investment Group and Hubei provincial government on Nov 18 in Beijing.

IGE, one of the three signatories, started integrating strategic and innovative hydrogen industry resources internationally in 2015, and is committed to boosting the demand and development of hydrogen production, storage and refueling via application scenarios for Grove hydrogen passenger vehicles going to the market.

So far two hydrogen production sites for Zhongji Hydrogen Co Ltd have already gone into mass production; two demonstration public bus lines with Tiger’s hydrogen powertrain are in operation stably; a hydrogen powertrain quality testing center has started operating and R&D activities for Grove’s two mass production vehicles are ongoing.   

IGE has rolled out strategic investment and layout settings for hydrogen production, refueling, powertrain systems, complete vehicle and testing, etc. in recent years and has established a preliminary hydrogen industry ecology chain which is innovative and international.

Hao Yiguo said the signing ceremony was an important milestone for joint hydrogen industry development by the three parties. With the support of provincial, municipal and regional governments and China Energy Investment Group, the partners will focus on hydrogen applications to establish a hydrogen industry ecology system led by Grove and an energy internet ecology system based on digital hydrogen. Nowadays, Grove is sparing no effort to promote mass production vehicle activities. The launch of mass production vehicles will increase the market demand of upstream hydrogen business, reduce systematic risks fir investment and development of the hydrogen industry chain. China is starting the large-scale commercial application of hydrogen. Developing the hydrogen industry is of great significance to energy transition and the better development of society and the economy. Hydrogen Technology Co Ltd of China Energy Investment Group is a core platform and company for China Energy Investment Group to incubate hydrogen industry ecology. East Lake Hi-tech Zone is the demonstration district for national independent innovation, which is experienced in knowledge creation and technology innovation. The three parties will deepen their strategic cooperation comprehensively, make use of their advantages respectively to establish a springboard for hydrogen industry ecology in China and internationally, to facilitate the strategic and innovative development of hydrogen industry in China.

Wuhan city and East Lake Hi-tech Zone attach great importance to the development of the hydrogen industry and both have included the sector in their 13th Five-Year Plan (2016-20). East Lake Hi-tech Zone has made it very clear in its planning for a full industry chain of new energy vehicles led by hydrogen vehicles to be established.

After the signing ceremony, the three parties will start all-round cooperation in the hydrogen field to join hands to facilitate hydrogen and boost innovative development of the hydrogen industry.

China Energy Investment Group was founded on Nov 28, 2017 and is a state-owned company supervised and managed by State-owned Assets Supervision and Administration Commission of the State Council, ranking at No 107 for Fortune 500 list of companies in July, 2019. The establishment of China Energy Investment Group is an important decision and deployment by the central CPC and State Council. It is a promotion of deeper structural supply-side reform of State assets and State-owned companies, the practice of “four energy revolution” and an important measure to ensure national energy security.