On the morning of July 8, Leng Weiqing, Secretary of the Party Committee and Chairman of the Board of Directors of Shanghai Electric Group, met with Lu Bingbing, General Manager of Shanghai Hydrogen Propulsion Technology Company (SHPT), for an in-depth discussion on the collaboration and development in the hydrogen energy industry and other topics of common concern. Jin Xiaolong, Member of the Party Committee and Vice President of Shanghai Electric, and Yang Hong, Vice President of Shanghai Electric, were present at the event.

According to the medium and long-term plans made by the State and Shanghai Municipality, hydrogen is a priority area for strategic emerging industries and a new point for economic growth in the green and low-carbon industrial system and industrial transformation and upgrading. By 2025, the innovation capability of Shanghai's hydrogen market will be in a domestic leading position, and breakthroughs will be made in key technologies for hydrogen production, storage, transmission and use, which will greatly improve the core technologies and processes with independent intellectual property rights.

Under such a background, Shanghai Electric is laying out the whole industrial chain based on hydrogen production from electrolysis, followed by hydrogen storage, hydrogen refuelling and distributed power generation. It is committed to mastering the core technologies and smoothing the industrial chain with the production of key components. It will provide core products and synergizes with the Group’s renewable energy, chemical equipment and carbon dioxide capture businesses to provide benefits of resource integration, supplying integrated energy system solutions that combine hydrogen production, hydrogen storage/processing, hydrogen power generation, and energy and chemistry.

The hydrogen energy team of Shanghai Electric and the SHPT are determined to form differentiated competitiveness through collaboration and explore more market opportunities together. The two companies will combine their strengths to smooth the industrial chain and carry out collaborative innovation in technology and product R&D, scenario-based application, customer resource sharing, cost control, solutions and component R&D, so as to provide customers with comprehensive net-zero solutions and build a good ecosystem for the industry's sustainable development.

The relevant managers from Shanghai Electric Central Academe and Shanghai Electric Automation Group had an in-depth discussion with the technical team of SHPT.

Established in June 2018, the SHPT is a leading innovative technology company incubated and spun off by SAIC Motor, specializing in the R&D, design, manufacturing, sales and engineering services of fuel cell reactors, systems and core components. The company has the capability in the design, development and mass production of high-power fuel cell reactors and systems, as well as the ability of the fuel-cell power systems integration and development. It is actively promoting the independent development and industrialization of core automotive components.