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SinoHytec Successfully Listed on the Main Board of HKEX

HONG KONG, Jan 12, 2023 - (ACN Newswire via SEAPRWire.com) - The leading provider of fuel cell systems in China - Beijing SinoHytec Co., Ltd. ("SinoHytec" or the "Company", Stock Code: 2402), has successfully listed and commenced dealings on the Main Board of the Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange" or "HKEX") today, under the stock code of 2402 and the Offer Price is HK$60 per Share in board lots of 50 shares each.SinoHytec is listed on the main board of HKEX, with 17,628,000 shares being offered globally, Among them, the International Offering was moderately over-subscribed, representing approximately 1.84 times the total number of 15,865,200 Offer Shares initially available under the International Offering.The Hong Kong Public Offering was slightly over-subscribed, representing approximately 0.29 times the total number of 1,762,800 Offer Shares initially available for subscription under the Hong Kong Public Offering.The net proceeds from the Global Offering to be received by the Company is estimated to be approximately HK$982.8million, after deduction of the underwriting commissions, fees and other estimated expenses payable in connection with the Global Offering, of which approximately 75% of the net proceeds received from the Global Offering will be used to fund the Company's research and development in the next three years; and about 15% will be used to enhance the Company's brand recognition through product promotion and multi-channel marketing in the next three years; the remaining approximately 10.0% will be used for working capital and other general corporate purposes.SinoHytec adheres to the R&D principles of "Advance Research", "Continuous Development" and "In-depth Promotion". Following a vertically integrated R&D path, it has evolved from integrating the fuel cell system into the fuel cell powertrain assembly, to developing and manufacturing the fuel cell system and the stack, and most recently the bipolar plate (the core component of the stack). In addition, the Company plans to develop and manufacture membrane electrodes, another major fuel cell stack component, through its main associate company, Shanghai Maximfuelcell Technology Co., Ltd.In addition to independent research and development, the Company jointly undertakes research and development projects and jointly develops fuel cell vehicles with research institutions, government departments and well-known automobile manufacturers. The Company's industry competitive advantages derive from its continuous leading position in the fast-growing Chinese fuel cell system market, strong R&D strength, established stable cooperative relations with domestic mainstream commercial vehicle companies, integrated parts supply system and established in-depth cooperation relations with suppliers, as well as the support of experienced senior management team and high-quality staff team, which will help the Company stand out from its many opponents.Mr. Zhang Guoqiang, Chairman, Executive Director and General Manager of SinoHytec said: "Today, SinoHytec is officially listed on the Main Board of the Hong Kong Stock Exchange, which is an important milestone in the Company's development and marks the entry of SinoHytec into the international capital market. We would like to express our gratitude to our investors for their trust and support of SinoHytec. Setting off from a new starting point, we will further promote the research and development of fuel cell systems and core components; Expand the production capacity of fuel cell stacks to meet the growing market demand and achieve economies of scale; economies of scale; strategically expand customer base and regional coverage; expand and strengthen the supply chain; and enhance brand awareness and promote the application of fuel cell systems. We will grasp the future trends and directions of the industry, and leverage our own competitive advantages to further consolidate SinoHytec's market position to create the greatest value for shareholders and investors." Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

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SinoHytec Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange, Offer Price Between HK$60 and HK$76 per H Share, Raise up to HK$1,540.7 million

HONG KONG, Dec 29, 2022 - (ACN Newswire via SEAPRWire.com) - The leading provider of fuel cell systems in China - Beijing SinoHytec Co., Ltd. ("SinoHytec" or the "Company", Stock Code: 2402), today announced the proposed listing of its shares on the Main Board of the Stock Exchange of Hong Kong Limited ( the "Hong Kong Stock Exchange"). SinoHytec plans to offer an aggregate of 17,628,000 H shares under the Global Offering (subject to the Over-allotment Option), comprising an International Offering of 15,865,200 H shares (subject to Reallocation and the Over-allotment Option), representing 90% of the initial offer shares; and Hong Kong Public Offering of 1,762,800 H shares (subject to Reallocation), representing 10% of the initial offer shares), at a price range between HK$60 and HK$76 per Offer Share. The Hong Kong Public Offering will commence at 9 a.m., December 29, 2022 (Thursday), and close at 12:00 noon on January 5, 2023 (Thursday). Dealings in the shares of SinoHytec on the Main Board of the Hong Kong Stock Exchange is expected to commence on January 12, 2023 (Thursday), with the stock code 2402 and in board lots of 50 Offer Shares each.Guotai Junan Capital Limited and Giraffe Capital Limited are the Joint Sponsors.SinoHytec is a leading provider of fuel cell systems in China, focusing on the design, development and manufacture of fuel cell systems and stacks (a key component of the system) mainly for commercial vehicles, such as buses and trucks. According to the China Insights Industry Consultancy Limited Report ("CIC Report"), the company ranked first in the PRC fuel cell system market in terms of the total power output of fuel cell systems sold* in 2021, with a market share of 27.8%; and in 2021, fuel cell systems accounted for approximately 0.8% of the total sales volume of new energy systems for commercial vehicles, while lithium battery systems accounted for the rest of the total sales volume. As of June 30, 2022, the company's fuel cell systems were installed on 80 models of fuel cell vehicles that are featured in the MIIT New Energy Vehicle Catalogs, ranking us first in the industry.Leader in China's fast growing fuel cell system marketEstablished in 2012, the company is a pioneer in the R&D and commercialization of fuel cell systems in China and started batch production in 2016. The company also participated in the fuel cell vehicle development and commercialization scheme of the United Nations Development Programme in China and witnessed the progress of the PRC fuel cell industry from the R&D phase to pilot testing and to commercialization. The company's fuel cell systems are installed on commercial vehicles operating across various PRC cities, including Beijing, Zhangjiakou, Shanghai, Chengdu, Zhengzhou and Zibo. As of December 20, 2022, the company's fuel cell systems have powered over 2,800 fuel cell vehicles on the road in China. These vehicles had an average mileage of around 40,000 kilometers per vehicle, accumulating over 108.6 million kilometers and 2.3 million hours of operations, which built an industry leading record.Strong research and development capabilitiesThe Company adheres to a R&D principle of "Advance Research", "Continuous Development" and "In-depth Promotion". The key objectives of the Company R&D and product testing activities are to optimize and upgrade the company products' adverse weather capabilities, durability, reliability, efficiency, safety and economy. As of June 30, 2022, the Company has establised an outstanding R&D team of 270 members. The Company also cooperated with leading research universities in China, such as Tsinghua University, to facilitate the development and commercialization of innovative fuel cell technologies so that the Company can respond to the fast-changing market demands.The Company's R&D team has progressively developed the 30kW, 40kW, 50kW, 60kW, 80kW, 100kW, 120kW and 150kW models of fuel cell systems over the years. In particular, the Company launched the 240kW high power output model in December 2021, which is the first automotive fuel cell system in China that can reach a rated power of 240kW.In addition, the Company participated in and achieved significant results in various R&D projects sponsored by the PRC government. As of June 30, 2022, the Company had over 590 patents, including over 210 invention patents, over 360 utility model patents, and 20 design patents. In addition, the Company has more than 590 patent applications that have been accepted by the State Intellectual Property Office of China.* Sales volume of fuel cell systems comprises only direct sales to fuel cell vehicle manufacturers.Solid partnerships with major PRC commercial vehicle manufacturersThe Company has built solid long-term partnerships with major commercial vehicle manufacturers in China, such as Beiqi Foton, Yutong Bus and Geely Commercial Buses, through jointly undertaking national-level R&D projects and codeveloping, demonstrating and testing fuel cell vehicles. In particular, Beiqi Foton and Yutong Bus purchased the Company's fuel cell systems on order basis since 2016 and 2018, respectively, for the production of their fuel cell vehicles. The Company codeveloped with Toyota and Beiqi Foton transit buses using the Company's fuel cell systems which are designated as the official transport vehicles at the Beijing 2022 Olympic Winter Games. As of June 30, 2022, the Company has sold fuel cell systems to over 20 commercial vehicle manufacturers whose total fuel cell vehicles sold in 2021 represented nearly 60% of the market share in China. In addition, Beiqi Group and Yutong Bus have become the company Shareholders and strategic partners, representing the recognition of us by the downstream players of the fuel cell vehicle industry.Integrated components supply system and close cooperation with suppliersAfter years of dedication, the Company built a comprehensive procurement system with local suppliers. During the Track Record Period, the Company has established a relatively stable long-term relationship with over 300 suppliers in China, providing parts such as MEA and air compressors. During the Track Record Period, the company had localized the supply of MEA and procured more raw materials from local suppliers each year.Mr. Zhang Guoqiang, Chairman, Executive Director and General Manager of SinoHytec said, "Our mission is to leverage advanced hydrogen fuel cell technologies to contribute to China's carbon emission peak and carbon neutralitygoal and empower global energy transition. We are committed to becoming a global leader in hydrogen fuel cell technologies for promoting a sustainable and low-carbon future. New energy vehicle development is strategically significant to China's energy security and environmental protections. We intend to achieve this goal by implementing the following strategies: further advance the R&D of fuel cell systems and core components; expand the production capacity of fuel cell stacks to meet the growing market demand and achieve economies of scale; strategically expand our customer base and geographical coverage; expand and strengthen our supply chains; and improve our brand awareness and promote the application of fuel cell systems. We will grasp the opportunities arising in future trend and development of the industry, leverage on our competitive advantages to further consolidate SinoHytec's market position, and create the greatest value for shareholders and investors."Beijing SinoHytec Co., Ltd.Fact SheetInformation on the Global Offering:Number of Offer Shares under the Global Offering: 17,628,000 H Shares (subject to the Over-allotment Option)Number of Hong Kong Offer Shares: 1,762,800 H Shares (subject to reallocation)Number of International Offer Shares: 15,865,200 H Shares (subject to reallocation and the Over-allotment Option)Maximum Offer Price: HK$76.00 per H Share, plus brokerage fee of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565% (payable in full on application in Hong Kong dollars and to refund)Board Lot: 50 H SharesStart of the Hong Kong Public Offering: 9:00 a.m., December 29, 2022 (Thursday)End of the Hong Kong Public Offering: 12:00 noon, January 5, 2023 (Thursday)Announcement of Allotment Results: January 11, 2023 (Wedsnesday)Expected Listing Date: January 12, 2023 (Thursday)Stock Code: 2402Use of Proceeds:The Company estimates that it will receive net proceeds of approximately HK$1121.8 million from the Global Offering, after deducting the underwriting commissions, fees and estimated expenses payable by the Company in connection with the Global Offering, assuming that the Over-allotment Option is not exercised and assuming an Offer Price of HK$68 per Share (being the mid-point of the indicative Offer Price range). The Company intends to use the net proceeds for the following purposes: 1) Approximately 75.0% (approximately HK$841.2 million) will be used to fund the research and development in the next three years;2) Approximately 15.0% (approximately HK$168.4 million) will be used for improving the brand recognition through product promotion and multi-channel marketing in the next three years; 3) Approximately 10.0% (approximately HK$112.2 million) will be used for working capital and other general corporate purposes. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Pertamina saves US$402.46 million amid rising global oil prices

JAKARTA, Sep 3, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned oil and gas company PT Pertamina succeeded in saving operational costs of around Rp6 trillion (US$402.46 million) until July 2022 through several efficiency programs amid rising world oil prices that increased fuel production costs.PT Pertamina head office building (ANTARA/HO-PT Pertamina)She explained that energy companies around the world are facing difficult situations as a result of disruption of the global energy supply chain due to the Russia-Ukraine conflict. The global trade mobility leading to post-pandemic recovery was jolted by limited supply that led to an energy crisis.The president director noted that the Indonesian government's policy of maintaining the people's purchasing power through fuel subsidies was the proper measure to accelerate economic recovery.According to Widyawati, the accuracy of the policy is reflected in the fuel consumption increase for community mobility and business activities.Pertamina President Director Nicke Widyawati stated that such a success could not be separated from strategic cost-saving measures taken by the company group since the start of this year.She explained that energy companies around the world are facing difficult situations as a result of disruption of the global energy supply chain due to the Russia-Ukraine conflict. The global trade mobility leading to post-pandemic recovery was jolted by limited supply that led to an energy crisis.The president director noted that the Indonesian government's policy of maintaining the people's purchasing power through fuel subsidies was the proper measure to accelerate economic recovery.According to Widyawati, the accuracy of the policy is reflected in the fuel consumption increase for community mobility and business activities.On the other hand, she also pointed out that the increase in fuel consumption had caused an increase in the burden of government subsidies."We understand the heavy burden of the government's fuel subsidy, and for that Pertamina carries out various cost-saving programs in order to help reduce the burden," she stated.She remarked that the largest chunk of the company's cost of fuel production is for the purchase of crude oil, which accounts for 92 percent of the production costs.Fortunately, investment in upgrading the Pertamina Oil Refinery, which had been conducted in the last four years, had succeeded in increasing the flexibility of crude oil availability.It means, if so far, the Pertamina refinery has only been able to process certain crude oil that is expensive, but starting last year, it has been able to process crude oil, with a higher sulfur content, which is cheaper and can be gained from many sources," Widyawati stated.This is Pertamina's strategic move that has succeeded in significantly reducing fuel production costs, she affirmed.In addition, the company's energy efficiency efforts in all operational areas -- from upstream to downstream -- had caused significant cost savings while also contributing to a reduction in carbon emissions."The post-restructuring breakthrough, which is also significant to achieve Pertamina Group's efficiency, is the centralization of the procurement of goods and services, as well as the integration and optimization of all assets from upstream to downstream," she stated.Apart from saving costs, the Pertamina Group has also succeeded in increasing its revenue through the export of high value-added products, such as HVO (palm-based D100) and Low Sulfur Fuel Oil.By upgrading its refineries, Pertamina has currently been able to produce more low-carbon products whose demand had continued to increase, thereby capturing a very prospective opportunity in the midst of global demand for such a product."For Pertamina, cost savings are not just about cutting costs but also changing operating models and improving business processes, so that all company programs can be carried out and all targets are achieved, but at a lower cost," Widyawati stated."Pertamina will continue to make various efforts to save costs, which at the same time can reduce carbon emissions, thereby supporting the company's and national energy transition efforts," she said.Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Rahmad Nasution (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Mitsubishi Power Signs Decarbonization Agreement for Hydrogen Fuel Conversion with Leading Egyptian O&G Refinery ANRPC

Alexandria, Egypt /Duisburg, Germany, Jun 16, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Power, a power brand of Mitsubishi Heavy Industries Ltd. (MHI) signed a full turnkey contract with leading Egyptian O&G Company Alexandria National Refining & Petrochemicals Company (ANRPC) to provide advanced hydrogen fuel conversion technology solutions, supporting the company to achieve its decarbonization goals. The solution will be installed at the ARNPC refinery plant in Alexandria, which provides 30% of Egypt's gasoline supply for domestic consumption.Under the terms of the contract, Mitsubishi Power will be responsible for the design, engineering, procurement, construction, and commissioning of fuel conversion solutions for the existing 100 ton/hour boiler, enabling it to fire up to 100% hydrogen by the end of 2023. This includes the installation of state-of-the-art hydrogen burner technology and advanced control solution to ensure efficient and safe operations.Commenting on the agreement, Salah Gaber, Chairman & CEO of ANRPC, said: "We are thrilled to partner with world technology leader Mitsubishi Power on innovative fuel conversion solutions that will help us to achieve our commercial goals while reducing our carbon footprint by 22,000 tons annually. Modernizing existing conventional boilers by enabling fuel conversion is a practical and important milestone to enable Egypt to deliver on its ambitious energy efficiency and decarbonization goals under the national Integrated Sustainable Energy Strategy. We look forward to working together with Mitsubishi Power to achieve all milestones and deliver the project on schedule."Falk Hoffmeister, Head of Service at Mitsubishi Power Europe GmbH, said: "We are proud to partner with Egypt's leading O&G refinery ANRPC, providing them with our groundbreaking hydrogen fuel conversion technology solutions, which will enable ANRPC to lower its CO2 emissions. The addition of hydrogen, considered to be the fuel of the future to ANRPC's fuel mix will deliver the flexibility they need to support them in achieving cost efficiencies. This latest contract is part of our continued commitment at Mitsubishi Power to develop technologies that convert existing thermal power systems to hydrogen and thus support our customers in the region to achieve their decarbonization goals."Khalid Salem, President, Middle East and North Africa at Mitsubishi Power said, "The ANRPC hydrogen fuel conversion project is a landmark project for Egypt's energy industry and we are honored to partner with O&G leader ANRPC to help them fulfill the country's ambition to become a low carbon energy leader. In the lead up to COP27, the ANRPC project is especially significant as it reflects Egypt's commitment to the development of a national hydrogen industry. At Mitsubishi Power, we will continue to work with our partners in Egypt and across the Middle East and North Africa to help them achieve decarbonization and deliver a sustainable future for the region."ANRPC, which was established in 1999, is the leading refining company in Egypt working under the umbrella of Egyptian general petroleum corporation (EGPC).Mitsubishi Power's hydrogen firing technology enables thermal power systems owners to decarbonize their existing plants with minimal modifications. This is part of Mitsubishi Power's mission to work with customers to create a sustainable roadmap to reduce CO₂ emissions.About Mitsubishi Power in Europe, Middle East and AfricaMitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), with a large presence across Europe, the Middle East and Africa. This includes centres of excellence in Germany, the United Kingdom, Saudi Arabia and the United Arab Emirates, besides vast customer support capabilities in many countries across the region. Mitsubishi Power designs, manufactures and maintains equipment and systems that drive decarbonization and ensures the delivery of reliable power. Among its solutions are a wide range of gas turbines, including hydrogen-fuelled gas turbines and solid-oxide fuel cells (SOFCs), and an experienced services business with an extensive reach across the entire region. Committed to providing exemplary service and working with customers, Mitsubishi Power's TOMONI intelligent solutions leverages advanced analytics, adaptive control technology, artificial intelligence and machine learning to make power plants smarter, lowering emissions, increasing flexibility and supporting decarbonization.For more information, please visit: https://power.mhi.com/regions/emea/PRESS CONTACT:Claudia WedemannMitsubishi Power Europe GmbHTel.: +49 203 8038 1368Email: c_wedemann@eumhi.com Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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Mitsubishi Shipbuilding Completes Conceptual Design of VLGC Enabling Conversion of Main Fuel from LPG to Ammonia

TOKYO, Jun 10, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has completed the conceptual design of a Very Large Gas Carrier (VLGC) initially powered by liquefied petroleum gas (LPG) but adaptable to future use of ammonia as the main fuel(1). Approval in Principle (AIP)(2) for the design has been acquired from the Japanese classification society ClassNK.Image of an LPG-powered VLGC convertible to ammonia fuelThe conceptual design of an LPG-powered VLGC enabling future conversion to ammonia fuel was developed based on Mitsubishi Shipbuilding's experience and expertise in the construction and delivery of more than 80 very large LPG carriers and multi-purpose gas carriers capable of carrying ammonia. Creation of a design enabling conversion to ammonia fuel in line with future needs is expected to permit relatively small-scale ship retrofitting when use of ammonia fuel becomes a viable option.Ammonia is expected to come into wide use in the future as a stable and clean source of energy. Because it emits no CO2 when combusted, ammonia is garnering attention as a fuel that will contribute significantly to reducing greenhouse gas (GHG) emissions in the marine industry. Mitsubishi Shipbuilding's newest VLGCs, in addition to using LPG fuel as an alternative to the conventionally prevalent heavy oil, can also transport ammonia as cargo. As such, the company's VLGCs are highly suited to using ammonia fuel in the future. In recent years Mitsubishi Shipbuilding has been conducting investigations into the potential use of ammonia fuel in VLGCs as one means of achieving carbon neutrality in the global marine industry by 2050, a target pursued jointly by the public and private sectors in a quest to reduce the industry's GHG emissions.As part of the energy transition strategy being promoted by MHI Group, Mitsubishi Shipbuilding has established a growth strategy called "MARINE FUTURE STREAM." The strategy focuses on two overarching targets: "decarbonization of the maritime economy" through use of renewable energies and carbon recycling, and "safe and secure future for society" through autonomous operation and electrification. The company seeks to achieve these dual goals through creation and application of marine-related innovations. Going forward, as a marine systems integrator Mitsubishi Shipbuilding will continue to promote decarbonization in the marine industry and devote its resources to achieving carbon neutrality, as its way of contributing to reducing environmental loads on a global scale.(1) This goal conforms with ClassNK's "Guidelines for Ships Using Alternative Fuels," which stipulate measures for safety requirements of alternative fuels.(2) Approval in Principle (AIP) indicates that a certification body has reviewed the basic design of an item and confirmed that it meets technical requirements and relevant safety standards. Inspection of Mitsubishi Shipbuilding's conceptual design was conducted based on the IGC Code (International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk) and ClassNK's own ship classification regulations.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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Honda to Install Stationary Fuel Cell Power Station on California Campus as First Step Toward Commercialization of Zero-Emission Backup Power Generation

Torrance, Calif., Mar 15, 2022 - (JCN Newswire via SEAPRWire.com) - Honda today announced plans to install a stationary fuel cell power station on its corporate campus in Torrance, Calif. by early 2023. The station will serve as a proof of concept for the future commercialization of a power generation unit for use as a zero-emission backup power source for facilities such as data centers, which require reliable and clean auxiliary power generation to continue operations even in emergency situations. This new initiative will leverage Honda's fuel cell technology expertise as part of the company's global goal to achieve carbon neutrality for all products and corporate activities by 2050. Honda's proof of concept fuel cell power station will utilize fuel cell components from Honda Clarity Fuel Cell vehicles in a flexible, four-quad parallel stationary fuel cell power generation system capable of generating up to 1152kW-DC/1MW-AC from an inverter. A unique advantage of the four-quad design is the flexibility to change the layout of the four individual fuel cell units to suit the installation environment, accommodating a cuboid, L-shape, Z shape or other packaging requirements. The station will be connected to the data center on the American Honda campus in early 2023, providing a real-world power generation application to verify performance. This will enable Honda to advance its know-how in the power supply area, as well as supply chain development, grid connection access, construction specifications, AC/DC connection requirements and other critical areas."We will leverage the expertise Honda has established in creating multiple generations of fuel cell systems for the development of a fuel cell power generation station," said Mitsuru Kariya, senior vice president in charge of the R&D Business Unit of American Honda. "This project is an opportunity to further utilize our strengths in fuel cell technology to more quickly create, assess and advance a clean power generation system for potential commercial customers."While Honda remains committed to developing fuel cell systems for passenger vehicles, the market for fuel cell systems to power larger trucks and transport ships, as well as stationary generation, is expanding rapidly in the U.S. and is expected to grow to over $86.7 billion annually by 2030. Data centers in particular require high-quality and reliable power, where any disruption in power supply can lead to downtime or problems such as data corruption and damage to servers. Typical stationary backup generators rely on diesel fuel, which result in higher carbon emissions and local air pollutants. Backup power systems utilizing hydrogen fuel cells offer a promising future for clean, yet reliable and high-quality power generation, especially when operating on so-called "green" hydrogen made from renewable sources, with water vapor as the only emission. Honda Fuel Cell Technology LeadershipHonda has led the industry over the past quarter-century in the development and deployment of fuel cell technology, including extensive real-world testing and customer deployments. - In July 2002, the Honda FCX became the first fuel-cell vehicle certified by the U.S. Environmental Protection Agency (EPA) and California Air Resources Board (CARB). - In December 2002, Honda introduced the world's first production fuel-cell vehicle, to both the U.S. and Japan markets. - In 2003, Honda became the first automaker with a fuel-cell vehicle to start and operate in sub-freezing temperatures.- In 2005, Honda became the first automaker to lease fuel cell vehicles to individual retail customers.- In 2008, Honda became the first manufacturer to build and produce a dedicated fuel-cell vehicle (FCX Clarity) on a production line specifically made for fuel-cell vehicles.- In 2013, Honda and GM began working together on the co-development of a next-generation fuel cell system and hydrogen storage technologies.- In 2017, Honda introduced the Honda Clarity Fuel Cell vehicle.- In 2020, Honda Motor Co., Ltd. and Isuzu Motors Ltd. signed an agreement for joint research of the use of hydrogen fuel cells to power heavy-duty trucks, looking to expand fuel cell use by applying the zero-emission technology to larger vehicles. In 2021, Honda announced its collaboration with Japan Aerospace Exploration Agency (JAXA) to develop a fuel cell system combined with a high differential pressure water electrolysis system that will help support a "circulative renewable energy system" to supply space and lunar stations with electricity, oxygen and water.At FC Expo held in Japan during March 16 and 18, 2022, Honda will display a prototype of FC Power Unit co-developped with General Motors, a portable FC generator concept model. Honda Commitment to the EnvironmentHonda is committed to addressing global environmental and energy issues by striving to realize carbon neutrality for all products and corporate activities by 2050. Honda proudly has the highest fleet average fuel economy and lowest CO2 emissions of any full-line automaker in America, according to the U.S. Environmental Protection Agency's (EPA) latest data. To reduce CO2 emissions even further, Honda will strive to make battery-electric and fuel cell electric vehicles represent 100% of auto sales in the U.S. and globally by 2040. Honda also is working to reduce the environmental impact of its business operations. To slash CO2 emissions from its North American manufacturing operations, Honda has entered into long-term virtual power purchase agreements (VPPAs) for renewable wind and solar power seeking to cover more than 60% of the electricity that Honda uses in North America. This enables the company to fully offset the remaining carbon intensive grid-supplied electricity used in its Ohio, Indiana, and Alabama automobile manufacturing operations. Honda also promotes environmentally responsible business practices with its suppliers and retail dealer partners across North America.Learn more at https://csr.honda.com/environment/na-environmental-report/ Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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DENSO and Aisan Reach Agreement on Transfer of Fuel Pump Module Business

KARIYA, JAPAN, Jan 17, 2022 - (JCN Newswire via SEAPRWire.com) - Leading mobility supplier DENSO, and powertrain supplier Aisan today announced their respective Board of Directors have agreed upon and signed an agreement to transfer DENSO's fuel pump module* business to Aisan. In addition, the Board agreed to allow Aisan to acquire DENSO's equity stake in KYOSAN DENSO MANUFACTURING KENTUCKY, LLC (KDMK), located in Mt. Sterling, KY. The transfer is estimated to be on August 1, 2022. The two companies previously announced that they reached a basic agreement on May 20, 2019, to begin studying the possibility of strengthening their competitiveness in powertrain and future growth areas. As a result of the study, the companies agreed that DENSO will transfer its entire business of developing, producing, and selling fuel pump modules to Aisan, and Aisan will acquire DENSO's equity stake in KDMK. Additionally, the companies determined that DENSO will not increase its ownership stake in Aisan.Mutually Beneficial Agreement:The mutually beneficial agreement will allow DENSO to focus on its Two Great Causes: Green and Peace of Mind, under which it will work to achieve carbon neutrality, zero traffic accidents and safe and seamless society. While, Aisan will work to improve its product capabilities by combining both Aisan and DENSO's technology and knowhow, as well as maximizing resources to improve production efficiency and achieve low-cost manufacturing.The two companies will continue to collaborate and utilize each other's strengths and contribute to the realization of a sustainable mobility society.This business transfer is subject to approval from the antitrust authorities in the relevant countries and regions.* Fuel pump moduleAn assembly that delivers fuel from the fuel tank to the engineOverview of business transfer:Business to be transferred - Fuel pump moduleAgreement date - January 17, 2022Date of the transfer - August 1, 2022 (planned)About DENSODENSO is a $44.6 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 168,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 10.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2021. For more information about global DENSO, visit https://www.denso.com/global. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

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Technological Revolution and Industrial Transformation, Weichai Power Releases the World’s First Diesel Engine with a Base Engine Thermal Efficiency of 51.09%, along with Major Hydrogen Energy Technology Achievements

HONG KONG, Jan 13, 2022 - (ACN Newswire via SEAPRWire.com) - At 9:00 am on January 8, 2022, Weichai Power (Stock codes: 2338.HK; 000338.SZ) released the world's first diesel engine with a base engine thermal efficiency of 51.09% and major achievements in hydrogen technology achievements.Tan Xuguang, CPC Secretary and Chairman of Shandong Heavy Industry Group, Chairman of Weichai Power and Director of the Academic Committee of the National Fuel Cell Technology Innovation Center, reported the research findings of the world's first diesel engine with a base engine thermal efficiency of 51.09% developed by Weichai Power, the operation of the National Fuel Cell Technology Innovation Center and the "Hydrogen for Every Home" technology demonstration project. TuV SuD, an world-renowned test authority, issued a certificate of thermal efficiency of 51.09% to Weichai Power. Then the delivery ceremony of hydrogen-powered heavy-duty truck delivery for demonstrative operation between Shandong Heavy Industry and Shandong Port was held.FISITA, MIT, AVL, FEV, SwRI, Bosch Group and Vitesco Technology, as well as the China Mechanical Engineering Society, the China Automotive Engineering Society, the China Internal Combustion Engine Society and the China Internal Combustion Engine Industry Associations extended congratulations on the release of the diesel engine by message or video link.Challenging Limits, Scaling New HeightsToday when green and low carbon development has become a global consensus, China has set the strategic goal of achieving carbon peak by 2030 and carbon neutralization by 2060. Transportation is an important field for this target, and the internal combustion engine industry plays an important role in this process.Thermal efficiency is the yardstick for the fuel efficiency of internal combustion engines: higher thermal efficiency represents lower fuel consumption and better effects of energy conservation and emission reduction. It is also a reflection of a country's technical strength in diesel engines. Improving thermal efficiency has been the common pursuit of the global diesel engine industry since diesel engines emerged 125 years ago. Weichai Power released the world's first commercial diesel engine with a base engine thermal efficiency of 50.23% in Jinan on September 16, 2020, establishing a new thermal efficiency benchmark for global diesel engines, just like the first time in human history that a 100-meter sprint was completed in 10 seconds. Just 480 days later, Weichai set a new world record by increasing the base thermal efficiency to 51.09% just as a 100-meter race was completed in 9 seconds, further enhancing China's significance in the global internal combustion engine industry.The base engine thermal efficiency of 51.09% is another significant revolution of traditional engines, as well as a technical preparation for the implementation of the "China VII" emission standard. The application of this technology will help Weichai Power lead the world in a full spectrum of diesel engines, be of great strategic significance to promoting the energy-efficient and green development of China's traditional internal combustion engine industry, and play a significant leading role in the global internal combustion engine industry.According to estimation, compared with existing key products (diesel engines with thermal efficiency of 46%) on the market, those with a thermal efficiency of 51% can lead to a reduction of 10% in fuel consumption and carbon dioxide emissions alike, saving fuel consumption by 16 million tons and costs by approximately 140 billion yuan annually, and reducing carbon dioxide emissions by 50 million tons annually. With the massive use of the top technology in the industry, it will generate huge economic and social benefits.Hydrogen-powered Future, Shandong Model for Hydrogen IndustryWhile promoting the innovative and low-carbon development of traditional engines, Weichai Power has taken the new energy industry as an important strategy. The first batch of Sinotruk hydrogen-powered heavy-duty tractor trucks with Weichai's high-power hydrogen fuel cell systems are powerful, eco-friendly, safe, reliable and efficient for full-time use. In 2021, the National Hydrogen Cell Technology Innovation Center, the only of its kind in China, was established under the initiative of Weichai Power. Meanwhile, the Ministry of Science and Technology (MOST) and Shandong entered into a framework agreement on the "Hydrogen for Every Home" technology demonstration project. Based on the center, the ministry has carried out multi-scenario demonstrative application of hydrogen energy in Shandong, and sped up breakthroughs in key hydrogen technologies and the development of the hydrogen industry, thereby creating a duplicable Shandong sample for the hydrogen industry.Since the launch of the "Hydrogen for Every Home" technology demonstration project, with the strong support of MOST and Shandong, the National Hydrogen Cell Technology Innovation Center has established an innovation consortium centered on Weichai Power and constituted by enterprises, universities and research institutes, to accelerate technical breakthroughs and industrialization, and successfully develop 15-200kW hydrogen fuel cell systems. The company's 200kW fuel cell systems were selected for the National Exhibition on Sci-tech Achievements in the "13th Five-Year" Period in October 2021. The company was the first to conduct an environmental adaptability test of fuel cell vehicles in extreme cold, achieving one-time successful start-up at a temperature of 34 degrees Celsius below zero. The company was the first in the industry to turn out products lasting 30,000 hours, pioneering the industrialization of Chinese fuel cells.Based on its highly reliable fuel cell products, Weichai Power has carried out multi-scenario demonstrative application. In terms of hydrogen-powered parks, the company's first large-power container-type hydrogen fuel cell heating and power generation system and 30kW solid oxide fuel cell heating and power system, both the first of its kind in China, were put into operation in Weifang; the company developed China's first 3t hydrogen fuel cell forklift, creating a zero-carbon-emission logistics handling environment. In terms of hydrogen-powered ports, China's first 80-seat hydrogen fuel cell passenger ship developed by the company was tested successfully with zero carbon emission in the Xueye Lake, Jinan; and the company launched China's first hydrogen fuel cell heavy-duty truck demonstration project at Qingdao Port. In terms of hydrogen-powered highways, China's first highway hydrogen fueling station constructed by the company went into operation; a 49t fuel cell heavy-duty truck powered by Weichai operated for more than 5,000 kilometers from Taishan Steel, Jinan to Dongjiakou Area of Qingdao Port. On October 27, 2021, a Chinese original, world leading and fully-homemade Sinotruk Huanghe ski-waxing truck with a Weichai 162kW hydrogen fuel cell system was delivered for use during the Winter Olympic Games Beijing 2022. On January 4, General Secretary Xi Jinping inspected the ski-waxing truck. A series of outcomes marks that the "Hydrogen for Every Home" technology demonstration project is turning from blueprint into reality.Tan said the base engine thermal efficiency of the internal combustion engines being up to 51.09%, massive application of new energy in products, and the "dual driving force" strategy, have kept Weichai Power ahead in the development of traditional high-end engines and new energy engines, and opened up a new path for diversified energy transformation under the national strategy of carbon peak and carbon neutralization. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

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Mazda to Participate in Motor Sports Race Powered by Next-Generation Biodiesel Fuel

TOKYO, Nov 15, 2021 - (JCN Newswire via SEAPRWire.com) - In efforts to realize carbon neutrality, Mazda Motor Corporation aims to popularize the use of next-generation biodiesel fuels and participated in the Super Taikyu Race in Okayama held at the Okayama International Circuit on Saturday, Nov. 13 and Sunday Nov. 14, where Mazda entered a racecar with a conventional diesel engine (Skyactiv-D 1.5) that runs on 100% bio-based fuel made from used cooking oil and microalgae fats. From next year, Mazda will step up its efforts and participate in all rounds of the endurance race throughout the season.Mazda Spirit Racing Bio concept DemioTo achieve carbon neutrality, Mazda believes it is important to offer customers a variety of options. With this in mind, Mazda intends to expand its powertrain lineup by investing not only in conventional hybrids, diesel engine models, and EV models but also plug-in hybrid models while promoting initiatives in renewable fuels such as next-generation biodiesel fuels.Next-generation biodiesel fuels, which are made from sustainable raw materials such as microalgae fats and used cooking oil, do not compete with the human food supply, which has been an issue with existing biodiesel fuels, and because these fuels can also be used as alternatives to diesel fuel in existing vehicles and equipment without any modification, no additional fuel supply infrastructure is required. Therefore, biodiesel fuels can be expected to play a prominent role as an excellent liquid fuel source in promoting carbon neutrality.Mazda is a member of the Hiroshima "Your Green Fuel" Project, a demonstration project in Hiroshima for popularizing and spreading the use of next-generation biofuels jointly run by the Hiroshima Council for Automotive Industry-Academia-Government Collaboration (Hirojiren)1 as an activity of the Energy Expert Subcommittee and Euglena Co., Ltd.2 (Euglena: headquartered in Minato-ward, Tokyo, President: Mitsuru Izumo). The project aims to establish a model for revitalizing regional areas by retaining the entire value chain of carbon neutral fuels from the manufacture and supply of raw materials through to fuel use within the Hiroshima area. In August 2020, the project confirmed that the performance of this biodiesel fuel was on a par with petroleum-based diesel fuel, and Mazda commenced using it in company cars with diesel engines.And now, the Skyactiv-D 1.5 engine, installed in the Mazda vehicle that will compete in the Super Taikyu Race this time, will be capable of demonstrating peak performance even running on next-generation biodiesel fuel without any engine modifications. In a demonstration test of a next-generation biodiesel fuel derived entirely from biomaterials, the racecar "Mazda Spirit Racing Bio concept Demio" will participate in the ST-Q class running on a biofuel called "Susteo" supplied by Euglena and with the cooperation of the NOPRO3 racing team. The plan is to receive fuels from Euglena for the next season as well. The Super Taikyu Races have been held since 1991 as endurance races for mass-produced cars, and the ST-Q class is a class open to cars developed by manufacturers and approved by the Super Taikyu Organizing Committee. In addition to Mazda, Toyota Motor Corporation is also participating with a hydrogen-powered car.Under its corporate vision, Mazda aims to be a brand that continues to share a special bond with customers by providing cars that enrich their lives with the sheer pleasure of driving while at the same time continuing to pursue the challenge to attain carbon neutrality in 2050.1. Hirojiroen coordinates the overall demonstration project, promotes use of local resources as raw materials, promotes renewable energy-related projects in the region, and supplies fuels to companies and organizations that use biodiesel fuel for official vehicles and company cars. Biodiesel fuel is used in some public and company vehicles.2. A bio-venture company that develops and sells foods and cosmetics that utilize microalgae Euglena, etc., researches biofuel production, and provides gene analysis services. It collaborates with Mazda through Hiroshima "Your Green Fuel" Project and will supply fuels to support Mazda's participation in the upcoming Super Taikyu Race.3. A racing team (Nogami Project Co.,Ltd., Representative: Toshihiko Nogami) that has been participating in the Super Taikyu Race since 2015 with Demio (Skyactiv-D 1.5). Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)

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S’pore households should save electricity as costs increase due to fuel prices: Gan Kim Yong

SINGAPORE - Households in Singapore are advised to conserve electricity as costs are set to rise following the doubling of fuel prices, said Minister for Trade and Industry Gan Kim Yong on Tuesday (Oct 5). In a written parliamentary response that day, Mr Gan said fuel prices have more than doubled over the past 1½ years, impacting countries worldwide including China, Japan, Britain and countries in the European Union. Price movements in the global energy market will affect Singapore, which imports nearly 100 per cent of its energy needs, said Mr Gan. The minister was responding to questions by Mr Murali Pillai (Bukit Batok) on the rising price of natural gas, which is expected to cause a steep spike in electricity prices in Singapore in the next quarter, and efforts to cushion the impact. Mr Pillai also asked how the Government plans to protect Singaporean households affected by the economic fallout of the Covid-19 pandemic while also encouraging them to be more energy efficient. National grid operator SP Group announced on Sept 30 that the electricity tariff for households will increase by 3.1 per cent from October to December. This is the highest it has been priced since the January to March period last year. Nearly one in two households in Singapore purchase electricity from SP Group as at April this year. The International Energy Agency reported that electricity prices were 54 per cent higher in the first half of this year compared with the same period in 2020 in major advanced economies worldwide. This was due to rising fossil fuel prices caused by the onset of the pandemic last year as well as changes in electricity demand, it said. Mr Gan said the impact of short-term spikes in fuel prices is mitigated here in two ways. First, power generation companies buy the bulk of their natural gas under multi-year gas supply contracts. Second, they pass on some of this price stability to consumers through fixed price plans. However, sustained high fuel prices will eventually feed into Singapore's electricity prices, said Mr Gan. He said: "In spite of best efforts to deploy solar energy in Singapore, we are land constrained and will need to continue to rely on energy imports one way or another, and be subject to global price movements." More on this topic   Related Story Higher electricity bills for Singapore households likely to be the norm due to rising fuel costs   Related Story NUS to pilot SP Group's digital solutions to improve energy efficiency Mr Gan noted that wholesale electricity prices have been depressed below the cost of producing electricity in the last five years, due to overcapacity in generation. He said: "With rising demand from sectors such as data centres, 5G networks and electric vehicles, we will see electricity prices rise and normalise. "No company that is commercially run will sell electricity below cost perpetually." Eligible households will receive Goods and Services Tax (GST) Voucher - U-Save rebates to support them with utility expenses, said Mr Gan. Households in one- and two-room Housing Board flats typically receive rebates that amount to an average of about three to four months of their utility bills. This year, an additional 50 per cent of rebates through the GST Voucher U-Save Special Payment was given in April and July. Mr Gan also encouraged households to "use electricity prudently" through various ways. Households can do so by tracking their electricity consumption patterns through the SP Utilities Mobile App and designing their homes to be more energy efficient with the help of the E2Singapore website, which is run by the National Environment Agency (NEA). Last November, NEA and national water agency PUB also launched the Climate Friendly Households Programme to encourage 1- to 3-room HDB households to make the switch into using resource-efficient appliances. "Each eligible household is given e-vouchers to offset their cost of purchasing LED lights, energy-efficient refrigerators, and water-efficient shower fittings through the SP Utilities mobile app," said Mr Gan. "We encourage all Singaporeans to adopt energy conservation as a way of life - from designing an energy-efficient home to choosing energy-efficient appliances and adopting energy-saving habits," he added. More on this topic   Related Story Global energy shortage or a coincidence of regional crises?   Related Story Nearly half of residential consumers switched to buying electricity from retailers

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MC Reaches Agreement with Denbury on CO2 Transport and Storage Operations for Fuel Ammonia Production

TOKYO, Sep 22, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Corporation ("MC") is pleased to announce that it has reached an agreement with the Texas-based independent energy company Denbury Inc ("Denbury") on the key term-sheet of CO2 transport and storage operations, via Denbury's wholly owned subsidiary Denbury Carbon Solutions LLC ("DCS"). The business is in line with MC's aim to commence production of fuel-use ammonia ("fuel ammonia") in the US Gulf of Mexico ("GoM"). MC aims to produce one million tons of fuel ammonia annually in the US GoM and export to the Japanese market towards the late 2020s. The estimated CO2 volume to be captured from the ammonia facility is maximum 1.8 million metric tons per annum. Under the terms of our agreement with Denbury, the captured CO2 will be either sequestered underground via Denbury's EOR(1) or CCS(2) which Denbury plans to develop in the future. The term sheet contemplates an initial period of 20 years, with the ability to extend further. In the US GoM, Denbury owns unique capabilities and assets such as CO2 Green Pipeline system that ranks among the world's largest. The company has been active in the region for more than two decades, focusing on CO2-use EOR business. With international efforts to decarbonize picking up pace in recent years, Denbury unveiled its CCS business policy in January 2020 and launched DCS to focus on these operations. Ammonia does not emit CO2 when burned, so expectations are that switching to its use in thermal power generation will help to reduce carbon emissions. Japan's Ministry of Economy, Trade and Industry convened a public-private council to promote the introduction of fuel ammonia, and in February 2020 the council announced the roadmap for use of ammonia to power thermal power plants. Assumption is that Japan's annual imports of ammonia will reach 3 million tons by 2030 and 30 million tons by 2050. One of MC's goals is to introduce fuel ammonia in Japan. Through ammonia production and CCUS(3) businesses, we are taking steps to build the fuel ammonia supply chain. Furthermore, our efforts to balance energy supply stability and decarbonization meet to MC's overarching aim to achieve its three-value mission(4) and sustainable growth.(1) Enhanced Oil Recovery (2) Carbon dioxide Capture and Storage (3) Carbon dioxide Capture, Utilization and Storage(4) Simultaneous generation of economic, societal and environmental value Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)

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Shanghai Announced: 100 Hydrogen Fueling Stations Will Be Established and the Industry Scale Will Be 100 Billion Yuan

Shanghai, China / TickerInsider / August 27, 2021 / – In the evening of August 26, Shanghai Economic and Information Commission officially announced that the Shanghai government plans to build close to 100 hydrogen fuel refueling stations, forming an output scale of nearly 100 billion yuan and promoting close to 10,000 fuel cell vehicles. Meijin Energy (000723.SZ) is expected to benefit from this. Shanghai is the second fuel cell vehicle demonstration city cluster approved by China after Beijing. In China, various policies further guide the new energy industry chain to spread out, and in addition the market expects that the Guangdong Fuel Cell Vehicle Demonstration City Cluster project will be approved soon. Meijin Energy (000723.SZ) Meijin Energy (000723.SZ) Obviously, 2021 has become an important year for fuel cell development in China. According to the “White Paper on China’s Hydrogen Energy and Fuel Cell Industry”, it is expected that by 2025, the output value of China’s hydrogen energy industry will reach 1 trillion yuan; by 2050, the demand for hydrogen will be close to 60 million tons, hydrogen energy will account for more than 10% of China’s terminal energy system, and the annual output value of the industry chain will reach 12 trillion yuan. In the evening of 26th, the leading company of “hydrogen energy” concept, Meijin Energy (000723.SZ), released its interim report for 2021. The report shows that in the first half of 2021, Meijin Energy achieved revenue of 8.893 billion yuan, up 69.54% year-on-year; net profit of 1.533 billion yuan, up 1396.04% year-on-year; net profit attributable to shareholders of listed companies of 1.249 billion yuan, up 1909.35% year-on-year; basic earnings per share of 0.29 yuan. Meijin Energy’s share price soared 124% in two months’ time. In the evening of August 26, Shanghai Economic and Information Commission officially released the article “The first batch of fuel cell vehicle demonstration applications in Shanghai city cluster was officially approved” which exploded the investment community. The approved Shanghai Fuel Cell Vehicle Demonstration City Group is a group of six cities (regions), including Shanghai, Jiangsu Province, Suzhou City, Nantong City, Zhejiang Province, Jiaxing City, Shandong Province, Zibo City, Ningxia Ningdong Energy and Chemical Base, and Ordos City in Inner Mongolia Autonomous Region, to form a “1+6” city group. According to the “Notice on the Demonstration and Application of Fuel Cell Vehicles” jointly issued by the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration, the demonstration period will be actively encouraged, and the city groups shortlisted for demonstration will be rewarded according to the completion of their targets, with the demonstration period temporarily set at four years. Subsequently, Shanghai responded positively to the requirements of the document “Notice on the Demonstration and Promotion of Fuel Cell Vehicles” of five national ministries and commissions, and took the lead in actively carrying out the work related to the declaration of fuel cell vehicle demonstration application city clusters. At that time, the market expected that Shanghai was one of the strongest alternative cities, and now the official announcement was approved to a certain extent as expected to land. Shanghai Economic and Information Commission further said that Shanghai city cluster will make every effort to grasp the national fuel cell vehicle demonstration application development opportunity, focus on the core key parts and components technology breakthrough, the scale of vehicle promotion to lead, hydrogen refueling station appropriate ahead of the layout, the award of funds to increase the intensity, etc., accelerate the release of relevant support policies, actively carry out fuel cell vehicle demonstration application, strong support for the transformation and upgrading of the automotive industry, to build a world-class automotive industry center. Analysts pointed out that under the stimulation of preferential policies, the demonstration role of hydrogen fuel city cluster has obvious influence on the industry industry. After Beijing’s official announcement, Shanghai city cluster was also officially announced to be approved, which will further guide the rapid spread of the industry chain, and in addition, the market expects that Guangdong city cluster is also likely to be within the first list. It is reported that Guangdong hydrogen fuel cell vehicle demonstration city group is composed of Guangzhou, Yunfu, Foshan, Shenzhen, Zhuhai, Dongguan, Jiangmen, Yangjiang and Yulin in Shaanxi Province to declare as one city group. Although, fuel cells have not yet reached the stage of generating profits, the trend of industrial data is continuing to be positive. Data show that in the first half of this year, China’s hydrogen production increased by 25% year-on-year, with a 30% increase in the proportion of hydrogen produced using new energy sources. The increase in the scale of hydrogen production from electrolytic water has led to an increase in demand for equipment such as electrolytic cells. In addition, the latest data from the China Association of Automobile Manufacturers (CAAM) shows that from January to July this year, the production and sales of fuel cell vehicles completed 664 and 675 units respectively, with a year-on-year increase of 48.5% and 47.7% respectively. The Beijing Municipal Bureau of Finance said that Beijing has initially established a financial support policy system to promote the development of hydrogen energy industry, covering key technology research and development, hydrogen refueling station construction and operation, vehicle purchase subsidies and other aspects. In April this year, Shandong, a major energy province, has become the first demonstration province in the country for the large-scale promotion and application of hydrogen energy. The person in charge of Shandong Energy Bureau said that during the “14th Five-Year Plan” period, Shandong Province will build 100 hydrogen refueling stations, promote 10,000 fuel cell vehicles, and strive to exceed 100 billion yuan in total output value of hydrogen energy industry. According to the prediction of Gan Yong, the former vice president and academician of Chinese Academy of Engineering, the proportion of hydrogen energy in China’s terminal energy system will reach 10% to 15% in the future, and hydrogen energy will be synergistic and complementary with electricity as the main consumer of the terminal energy system, and drive the formation of a 10 trillion new industry. All kinds of policy trends show that the wind of fuel cell has been scraped up under the background of the era of carbon neutrality. In the “14th Five-Year Plan”, hydrogen energy and energy storage are listed as one of the six future industries to be planned. According to incomplete statistics, up to now, more than 20 provinces and 40 prefectures have issued hydrogen energy plans, and 2021 has apparently become the year for the rapid development of China’s fuel cell industry. According to the “White Paper on China’s Hydrogen Energy and Fuel Cell Industry” released by China Hydrogen Energy Alliance, it is expected that the output value of China’s hydrogen energy industry will reach 1 trillion yuan by 2025; the number of hydrogen refueling stations will exceed 1,500 in 2030; by 2050, the demand for hydrogen will be close to 60 million tons, hydrogen energy will account for more than 10% of China’s terminal energy system, and the annual output value of the industry chain will reach 12 trillion yuan. Under the wind mouth, the capital is excited to move With the capital feast of lithium new energy as a vivid case, the capital has long been eager for the rising fuel cell windfall. According to industry statistics, from January to July 2021, there were more than 80 public investment events in China’s hydrogen energy industry, with a total nominal investment amount of more than 250 billion yuan, an increase of more than 90% year-on-year, among which there were more than 10 projects with tens of billions of investment scale. Facing the windfall of fuel cell, besides China, developed countries such as the United States, Japan and Germany have also raised the planning of hydrogen energy to the height of national energy strategy. According to the previously disclosed “EU Hydrogen Energy Strategy”, the EU plans to invest 575 billion euros (about RMB 4.56 trillion yuan) into the hydrogen energy industry in the next ten years. Meanwhile, India’s decision on the fuel cell industry chain seems to be very big. Earlier, Prime Minister Narendra Modi said India would launch a 100 trillion rupee ($1.35 trillion, or about $8.8 trillion) national infrastructure plan that would help create jobs and expand the use of clean fuels, while setting a goal of achieving energy independence by 2047, saying the goal could be achieved by popularizing electric vehicles, transforming a gas-based economy and making India a hub for hydrogen production. Some analysts suggest that although the policy windfall has arrived and the long-term picture for fuel cells is rosy, there is not much of a profit base to support a sustained upside in the stock price, and many of the fuel cell technologies have not been validated for commercial application in the market, so there is some uncertainty about future technology development, product competitiveness and profitability. SOURCE: https://tickerinsider.com/technologies/shanghai-hydrogen-fueling-stations-will-be-established-100-billion-yuan-meijin-energy-000723/ CONTACT Jason Quintero Industry Insights Dept TickerInsider News Network Email: industry.insights@tickerinsider.com

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FTXT’s 100 Hydrogen Heavy Trucks Demonstration Project for Xiong’an New Area

BAODING, China, Aug 23, 2021 - (ACN Newswire via SEAPRWire.com) - FTXT Energy Technology, a Great Wall Motor (GWM) subsidiary, along with partners Dayun, Dongfeng and Foton, have successfully delivered a fleet of 100 hydrogen heavy trucks for the Xiong'an New Area construction project in Hebei Province, China. The 49-tonne fleet was unveiled at the Great Wall Technology Center, with the handing over ceremony on August 14 at Service Station #1 on the Rongyi Road in Baoding City, near Xiong'an.The handing-over ceremony on August 14 at FC Service Station #1 on the Rongyi Road in Baoding City, near Xiong'an.The heavy trucks are fitted with high-power 111kW hydrogen fuel cell engines, hydrogen stacks and hydrogen storage all by FTXT.FTXT's FC engine, stack and storage broke many technical barriers, with an overall performance index and safety performance grades at an advanced international level.Rongyi Road is the main artery for transporting construction materials to Xiong'an New Area. In the next five years, fuel cell trucks on the road will increase to more than 1,000. The trucks will be refueled at 10 Service Stations along the 50km road. The project aims to establish the basis for expansion to other regions based on its success, and to promote the development of a green transportation system nationwide.The heavy trucks are fitted with high-power 111kW hydrogen fuel cell engines, hydrogen stacks and hydrogen storage, fly compatible with each other on both power and control levels, developed by FTXT. The engine has a lifetime of 10,000 hours and can be started at -30 degrees C. All system components are locally sourced, with resulting costs decreased by about 28%.The FC engine has broken many of the industry's technical barriers, with the overall performance index and safety performance grades at an advanced international level. FTXT aims to extend the technologies to the first commercial vehicle applications using hydrogen energy in China, in the next 3 to 5 years. During the current stage, FTXT will demonstrate and promote 1,330 FCEVs in Hebei province.GWM, China's biggest maker of sport-utility vehicles and owner of FTXT Energy, will roll out its first hydrogen-powered SUV this year, and deploy its hydrogen-powered cars during the Winter Olympics in China next year. Zhang Tianyu, head of FTXT Energy, said "The technological breakthroughs we have achieved till now, in many ways have helped us to significantly reduce the costs of the final product, as well as ensure high performance, durability, and overall efficiency."About FTXTFTXT Energy Technology Co., Ltd. a subsidiary of GWM, focuses on the R&D, manufacturing, and sales of hydrogen energy technology. It has a professional R&D team as well as hydrogen energy test bases, fuel cell trial production centers, hydrogen production and liquefaction plants, supporting vehicle test sites, climatic chambers, and other high-quality resources. FTXT FC-engines and components have been fitted to heavy trucks, light trucks, city buses, sedans, SUVs and pickups. At present, FTXT deploys five R&D centers, in Shanghai, Baoding, Canada, Japan and Germany, forming a multicultural and technologically advanced R&D team. FTXT follows a V model development process to create all fuel cell power systems and components. Official Website: https://en.ftxt-e.com/LinkedIn: https://www.linkedin.com/company/ftxt-energy/Facebook: https://www.facebook.com/FTXTenergyYouTube: https://www.youtu.be/fU4l8q0pMToMedia contact:Tiantian Chen, FTXT U: http://www.ftxt-e.com E: chentiantian@ftxt-e.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

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Formula One: F1 stewards rule out review of Vettel’s disqualification

LONDON (REUTERS) - Formula One stewards dismissed Aston Martin's request for a review of Sebastian Vettel's Hungarian Grand Prix disqualification on Monday (Aug 9), a ruling that stretched Lewis Hamilton's championship lead to eight points. The German, a four-times world champion, was stripped of second place after a required litre of fuel could not be extracted following the Aug 1 race won surprisingly by Alpine's Esteban Ocon. The disqualification meant Mercedes' seven-times world champion Hamilton inherited the position and gained two extra points in his battle with Red Bull rival Max Verstappen. It also lifted Ferrari to third place overall, ahead of McLaren, and boosted Williams' points haul to 10. The stewards said after a video hearing that Aston Martin had discovered a malfunctioning fuel system, "which would have resulted in the ejection of fuel during the race", was to blame. Aston Martin had previously said there should have been 1.44 litres left in the car, according to their calculations. "In the original decision, the stewards only assumed the fact that there was not enough fuel in the tank. The question of what caused that situation was left out of consideration," the stewards said, explaining their decision. "The F1 Technical Regulations unequivocally calls for a remaining amount of one litre and does not allow any exceptions under which circumstances or for what reasons it could be dispensed with." Aston Martin had requested the review on the grounds that they had discovered "significant new evidence" which had been previously unavailable to them. This turned out to be analysis of more than 100 channels of fuel system-related data, which stewards accepted had brought a new element to light in the failure of the fuel system. They added, however, that this was not relevant to the decision. "In order to be able to affirm a 'relevant' fact, Aston Martin would have had to present facts that actually more than one litre of fuel was remaining," the statement said. "The explanation why this requirement could not be met is not relevant to the decision as to whether a breach of the regulations has occurred." More on this topic   Related Story Formula One: Officials to review Vettel Hungarian GP disqualification after appeal   Related Story Formula One: Vettel disqualified from Hungarian GP, Hamilton inherits second place

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Formula One: Vettel disqualified from Hungarian GP, Hamilton inherits second place

BUDAPEST (AFP) - Four-time world champion Sebastian Vettel was disqualified from the Hungarian Grand Prix on Sunday (Aug 1) and stripped of second place, the FIA said. Vettel's Aston Martin car was deemed to have insufficient fuel left after the race. Lewis Hamilton of Mercedes was promoted to second place behind race winner, Alpine's Esteban Ocon with Carlos Sainz in a Ferrari inheriting third place. World champion Hamilton now has a seven-point lead over title rival Max Verstappen who moved up a place from 10th to ninth after Vettel's banishment. "After the race it was not possible to take a 1.0 litre sample of fuel from car 5," said an FIA statement released five hours after the chaotic race ended at the Hungaroring. "The team was given several opportunities to attempt to remove the required amount of fuel from the tank, however it was only possible to pump 0.3 litres out. "Given this situation, car No. 5 is not in compliance with the requirements of FIA Technical Regulations." The decision robbed Aston Martin of what would have been just their second podium of the 2021 season following Vettel's runner-up spot in Azerbaijan. "The 18 points loss is disappointing for the team, but it doesn't take away from an otherwise flawless drive from Sebastian," said a team statement. "Today we showed that our car has strong race pace. Onwards and upwards." More on this topic   Related Story Formula One: 'Dizzy' Hamilton may be suffering from long-Covid   Related Story Formula One: Hamilton fuelled by boos from the crowd after Hungary pole

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Signing of Memorandum of Understanding regarding CCS Joint Study for Clean Fuel Ammonia Production in Indonesia

TOKYO, Mar 19, 2021 - (JCN Newswire via SEAPRWire.com) - Japan Oil, Gas and Metals National Corporation (JOGMEC), Mitsubishi Corporation (MC), Bandung Institute of Technology (ITB), a national university in the Republic of Indonesia, and PT Panca Amara Utama (PAU) have agreed to conduct a joint study on carbon capture and storage (CCS) and carbon dioxide utilization for clean fuel ammonia production in Central Sulawesi, the Republic of Indonesia. The four parties have signed a Memorandum of Understanding (MOU).Ammonia is being used worldwide as raw material for fertilizers/plastics/chemicals. Expectation for ammonia to become a next generation clean energy source is growing because ammonia does not emit carbon dioxide when burnt; transportation methods have been established with existing infrastructure; and due to its high hydrogen content.Under the MOU, the four parties will jointly conduct a CCS feasibility study near PAU's ammonia plant in Luwuk, Central Sulawesi, and the Donggi-Senoro LNG plant in the same province which is being led by MC as the largest shareholder. Mitsubishi Gas Chemical Company, Inc., which also indirectly invests in PAU together with Mitsubishi Corporation, has expressed its interests to cooperate in this joint study. Going forward, the companies concerned will formulate the necessary work processes including project composition; data accumulation of candidate storage formations; simulations; analysis and evaluations.Through this joint study, we will make effort to contribute towards realizing a decarbonized society and securing stable energy supply for Japan by pursuing the feasibility of clean fuel ammonia production from utilization of existing ammonia plant and CCS treatment of carbon dioxide generated during the production phase. Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)

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Formula One: Grosjean fireball crash has provided important lessons, says FIA

PARIS (AFP) - Romain Grosjean's fireball crash at the Bahrain Grand Prix has provided important lessons "that will advance our mission to improve safety in Formula One and in motor sport," International Federation (FIA) President Jean Todt said on Friday (March 5). Todt was speaking as the FIA published its report on Grosjean's accident. The Frenchman narrowly escaped death when his Haas car burst into flames after it crashed into a barrier at 220kmh on the first lap at the Sakhir circuit on Nov 29. The car was destroyed in just 28 seconds. The report found that, Grosjean, with his car embedded in the barrier, his cockpit buckled, debris from the engine blocking his escape, his fuel on fire and his left foot trapped, was still able to climb out in 27 seconds. "The driver was able to free his foot by withdrawing it from his racing boot leaving the boot in the entrapped position in the car and then moved both the dislodged headrest and steering wheel to egress the car," said the report. The FIA said that its investigation into what caused the fire in Grosjean's car, along with 18 other reports on "significant accidents" in 2020, have allowed it to identify a series of ways to enhance track safety. These include improving the fire resistance of drivers' gloves after Grosjean suffered burns to both hands, the development of cockpit fire extinguisher systems, the provision of alternative fire extinguishers in emergency vehicles and training for local fire-fighters on the circuits. The FIA said it will also examine improving safety barriers. Grosjean suffered burns to both hands when his Haas car split in two and erupted in flames. PHOTO: REUTERS/TWITTER The report found that in the crash "the fuel tank inspection hatch on the left-hand side of the chassis was dislodged and the engine fuel supply connection was torn from the fuel tank 'safety bladder'; both providing primary paths for the escape of fuel." "Fire was ignited during the final moments of the barrier impact, starting from the rear of the survival cell and progressing forwards towards the driver as the fire grew," said the statement. But, the FIA found, the driver safety equipment including helmet, the head and neck safety device (Hans), the safety harness, the Halo and the cockpit "survival cell" had "performed according to their specifications in protecting the driver's survival space and managing the forces applied" as Grosjean hurtled into the barrier at a force 67 times his weight. More on this topic   Related Story Motor racing: Romain Grosjean moves to IndyCar   Related Story Motor racing: 'I saw death', says Romain Grosjean, leaving hospital after fiery F1 crash Todt said that work already done had helped save Grosjean. "The enduring commitment of the FIA... on reducing risks associated with motor sport enabled Romain Grosjean to maintain consciousness and survive an accident of this magnitude. Safety is and will remain FIA's top priority," Todt said. More on this topic   Related Story Formula One: Former sceptic Grosjean praises halo after surviving fiery crash in Bahrain   Related Story Formula One: Having cheated death, Grosjean gets behind wheel of car again

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Toyota Moves Closer to Production with Next Generation Fuel Cell Electric Technology for Zero-Emissions Heavy Duty Trucks

Texas, Dec 11, 2020 - (JCN Newswire) - Toyota's next generation fuel cell electric technology is now powering a new set of Class 8 heavy-duty trucks. Using the same fuel cell system as the all-new 2021 Mirai sedan that goes on sale this month, the engineers at Toyota Motor North America Research and Development have developed a set of production-intent prototype trucks that are being prepared to run drayage routes at the ports of L.A. and Long Beach to validate their performance, efficiency and drivability.Designed to be flexible enough to meet the needs of a wide variety of OEM truck makers, the new fuel cell electric system in the latest prototypes has been adapted to a Kenworth T680 chassis. A more compact hydrogen storage cabinet behind the cab houses six hydrogen tanks with the same capacity as previous prototypes while a new, more powerful lithium-ion battery helps smooth out the power flow to the electric motors. In this configuration, the second generation fuel cell system delivers over 300 miles of range at a full load weight of 80,000 lbs., all while demonstrating exceptional drivability, quiet operation, and zero harmful emissions."This is an important step in the transition to emissions-free heavy-duty trucks," said Andrew Lund, Chief Engineer, Toyota Motor North America Reseach and Development. "Our first prototype trucks proved that a fuel cell electric powertrain was capable of hauling heavy cargo on a daily basis. These new prototypes not only use production-intent hardware, they will also allow us to start looking beyond drayage into broader applications of this proven technology."Reducing airborne pollution at the Ports of L.A. and Long Beach is an important driver of this program. Toyota's Environmental Challenge 2050 aims to almost completely eliminate CO2 emissions from our vehicles, operations and supply chain by 2050. Converting the drayage trucks that currently serve these ports to electric drivetrains would move us closer to that goal while improving the quality of life of operators, workers, and communities in and around the ports. Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com

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Toyota Launches the New Mirai

Toyota City, Japan, Dec 9, 2020 - (JCN Newswire) - Toyota Motor Corporation today launched the completely redesigned "Mirai" fuel cell electric vehicle (FCEV). The all-new Mirai is available from Toyota vehicle dealers starting December 9.FCEVs run on hydrogen, a fuel that can be produced from various energy sources and contributes to preservation of the global environment and reinforcing energy security. They are the ultimate eco-cars, offering long cruising ranges with a short refueling time and generating zero emissions. The first-generation Mirai, launched in 2014, was a revolutionary FCEV and a global forerunner in mass production. During the early stages of the Mirai's introduction, there was limited supply capacity, and customers made various requests including a larger seating capacity and longer cruising range.In response, Toyota set a target for the all-new Mirai to create a "premium car that will make customers think that 'this is a high-quality car that I truly want' immediately upon seeing it, while driving, and after they complete a trip," while maintaining its status as an FCEV.Hydrogen use has progressed in various forms with the aim of creating a low-carbon and decarbonized economy, and Toyota plans to use new fuel cell (FC) systems that pursue compact size, efficiency, and productivity in the means of mobility that support society including trucks and buses, and contribute to the expanded use of hydrogen.The new Mirai will serve as a new departure point for creating a hydrogen-based society of the future.Grades and PricesTwo grades--the standard G grade and the high-end Z grade---are available. Both grades are equipped with ample and comfortable rear seat space, and the "Executive Package," with enhanced comfort as a luxury vehicle, is available. The "A Package" that includes Toyota Teammate Advanced Park and other features is available for the G grade. Prices for vehicles with Advanced Drive are not yet set.For more information, visit https://bit.ly/36Ymjjr. Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com

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