HONG KONG, June 27, 2022 /PRNewswire/ -- CMIC, through its wholly owned subsidiary China Merchant Green Hydrogen Technology Co., Ltd ("GHT"), 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.
The picture of the five parties signing a share purchase agreement
This is one of several steps CMIC has been taking recently to enhance its positioning in the hydrogen value chain. This platform brings together CMIC's green hydrogen production and refueling 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 use of hydrogen as fuel for vehicles.
To this end, 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 has capability to develop and manufacture core equipment for hydrogen refueling 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 being a member of the China Merchant Group will also be able to 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.).
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Source: CMIC Ocean En-Tech Holding Co.,Ltd.