CMIC, through its wholly-owned subsidiary China Merchant Green Hydrogen Technology Co., Ltd, signed a share purchase agreement to invest in Shenzhen Intelligent Hydrogen Industry Co., a hydrogen-powered truck leasing platform to provide green transportation solutions required in specific clean environments such as domestic ports, parks, municipal sanitation roads, etc.
This platform brings together CMIC’s green hydrogen production and refuelling technology portfolios and the technologies of other shareholders. The parties can together integrate their capabilities to combine critical technical, environmental and economic expertise and resources needed to create a complete supply chain for using hydrogen as a fuel for vehicles.
Other shareholders of Shenzhen Intelligent Hydrogen have proven technologies for hydrogen-fueled trucks and vehicles as well as vehicle management and operations platforms. GHT has also already invested in electrolytic water hydrogen production equipment technology and can develop and manufacture core equipment for hydrogen refuelling stations.
The combination will expedite the process of delivering commercial applications by bringing together end-to-end solutions to ensure a valuable ecosystem is created for commercial applications. Initially, the use is focused on hydrogen-powered heavy trucks with Shenzhen Intelligent Hydrogen technology. CMIC, a member of the China Merchant Group, will also contribute resources for marketing, manufacturing and sourcing of financial support as the market develops.
CMIC Ocean En-tech is a leading technology company providing complete engineering, manufacturing and integrated solutions to customers in oil and gas, offshore wind and hydrogen sectors. CMIC is also in the business of investing in energy sectors, including the renewable energy sector. CMIC’s major shareholder is the China Merchants & Great Wall Ocean Strategy & Technology Fund (L.P.).