Longi Green Energy Technology Co., the world largest solar energy company, has entered the hydrogen market, H2 Bulletin reports.
Longi is headquartered in China and is the world largest producer of high-efficiency mono-crystalline solar cells.
The report of Longi involvement in the hydrogen market came out as it has now been revealed that Longi registered a company in China under the name Xi’an Longi Hydrogen Technology Co. on 31st March 2021, according to the National Enterprise Credit Information Disclosure System. The system shows that the company has listed gas, liquid separation, emerging energy technology, R&D etc., under the business scope.
The new company details further show that Li Zhenguo, Longi founder and president, has been registered as the new company chairman with other shareholders Xi’an Longi Green Energy Venture Capital Management Co. and Shanghai Zhuqueying Private Equity Investment Fund Partnership.
There has recently been quite a surge in Chinese companies entering the hydrogen energy market. China has set a target for its carbon neutrality, and Chinese companies have also started accelerating their contribution in moving towards decarbonisation.
Hydrogen will have the biggest impact on industries, especially those that cannot be decarbonised through electrification, such as steel and cement. Suppliers to the hydrogen industry and especially renewable companies (solar and wind) will benefit as the renewable capacity needed for green hydrogen production will increase going forward.