Sunwise and Linyang Energy agree to establish a hydrogen joint venture
This archived announcement has been translated automatically from Chinese. Names and technical wording may require editorial verification. Original artwork is preserved where applicable.
On 8 August 2021, the signing ceremony for the establishment of a joint venture between Sunwise (hereinafter “Sunwise”) and Linyang Energy S.A. (Shanghai) Ltd. (hereinafter “Ling Ocean Innovation”) took place in Shanghai. The signing ceremony was co-sponsored by the Chairman of the Linyang Energy Board, the Vice-President of the Linyang Group, the Director of Lin Yinghua, Chen Kim-min, the Managing Director of Lin Yin, the Chief Executive Officer of Lu Feng, the Director of Sunwise, the Deputy Director General of the Shanghai Hydrogen Energy Research Centre, Chen Hailin, the Director of the Tongji University Hydrogen Research Unit, and relevant industry experts such as the Shanghai Silic acid Institute of the Middle School.
Signing ceremony.
The joint venture is positioned to develop, produce, sell, operate and maintain hydrogen production systems of all types, to provide an overall solution to a competitive and safe and efficient hydrogen storage, and to strive to make the joint venture a leader in the industry within five years.
Hydrogen energy is a secondary energy source with a wide range of clean, zero carbon, flexible and efficient applications, and important industrial raw materials. Deep decarbonization in energy, steel, transport and construction is achieved through the coupling of renewable and hydrogen energy to contribute to the steady operation of a high proportion of green energy. According to the data website Recharge, to date there are 24 GW-scale green hydrogen projects across the globe with a total planned hydrogen scale of 207 GW. According to the Green Hydrogen Supply Policy Development Guide, published by the International Renewable Energy Agency (IRENA), global cell capacity is expected to increase to 3.1 GW by the end of 2021.
Sunwise and Linyang Energy have jointly established the Hydrogen Systems Manufacturing Company, which will take a critical first step in the field of green hydrogen energy. In the next phase, the two sides will take full advantage of their respective advantages and will further accelerate the deployment of their operations in the field of hydrogen energy, adding “hydro” power to China's energy transformation and carbon neutrality.
About Linyang Energy
Jiangsu Linyang Energy Co., Ltd. marked ten years since its listing on the Shanghai Stock Exchange main board on August 8, 2011. It has developed into a leading provider of products and operating services for smart grids, new energy and energy storage, expanding both its scale and brand through numerous challenges. Since listing, annual revenue rose from RMB 1.69 billion to RMB 5.799 billion in 2020, while net profit attributable to the parent increased by 430%. With China's carbon goals creating opportunities for a new power system centered on renewable energy, Linyang's smart energy, energy storage and new energy businesses are preparing for another phase of development.
About Sunwise
Sunwise, whose mission has been to promote the application of hydrogen energy technologies since its inception in 2004, is to be a leader in the country's leading new, integrated gas energy solutions, with a core team with more than 10 years of experience in the development and application of hydrogen-related technologies. Over the years, Sunwise has focused on the autonomous development of core technology and core equipment, and has successfully developed a number of breakthrough core equipment such as the first 35-MPa hydrogen unit in the country, the first 70-MPa hydrogen machine, the first hydrogen metering unit and the first mobile hydrogen station.
Source: Linyang Energy
Editor: Zhang Poetry
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English edition of the original Chinese page. Historical statements, dates and figures are retained as published.