On January 26, Beijing Mingyang Hydrogen Energy Technology Co., Ltd. (hereinafter referred to as "Mingyang Hydrogen Energy") signed a cooperation agreement with Thailand's IBC LNG to jointly build Thailand's first commercial green hydrogen project.
In this cooperation project, Thailand's IBCLNG will purchase high-performance electrolyzers from Mingyang Hydrogen Energy, and build a "production, storage, and use" scenario of green hydrogen integrating "light, storage, and hydrogen" based on this. The green hydrogen produced by the project will be transported downstream to iron and steel enterprises for green metallurgy to produce "green" steel, reduce the carbon footprint, and improve the green attributes and ecological premium of the product.
According to the reporter's understanding, the two sides will join forces in many aspects such as market and technology, through the orderly development of products to projects, from local to in-depth cooperation, to create a successful model of green hydrogen application in more dimensions and richer scenarios, through advanced hydrogen production technology and low-carbon cooperation, the two sides will jointly promote the development of Thailand's clean energy industry and provide high-quality international cooperation solutions for global climate change. IBCLNG, a subsidiary of Thailand's IBC Industries Group Corporation, is Thailand's first LNG distributor. The company is committed to providing engineering, procurement and construction services for a wide range of clean and efficient energy solutions, including energy-efficient solutions for industrial applications and logistics** LNG, and is actively expanding into the production and marketing of green hydrogen in Thailand.
Mingyang Hydrogen Energy, as the leading technology and product supplier of this green hydrogen project, is the leading enterprise in the intelligent manufacturing of green hydrogen equipment in China, mainly engaged in the design, manufacture and sales of hydrogen energy core equipment and its components such as hydrogen electrolyzers, and makes every effort to build a high-quality development and innovation system for hydrogen energy in multiple dimensions such as R&D, production and market, and is committed to creating excellent "electricity-hydrogen-electricity" low-cost cycle and high-efficiency long-term energy storage solutions in the whole process, and fully promoting international cooperation and innovation practice in the fields of key technologies, materials, and equipment in the hydrogen energy industry chain. Actively draw a blueprint for international cooperation in the hydrogen energy industry, and serve to promote the global green energy transition with higher-quality leapfrog development. In fact, Mingyang Hydrogen Energy has a strong intelligent manufacturing gene and global development vision, and its shareholders include Mingyang New Energy Investment Holding Group, a leading enterprise in the global new energy equipment industry and a provider of overall smart energy solutions, as well as Hillhouse Capital, a well-known investment company. Since 2019, Mingyang Hydrogen Energy has been conducting research and practice on the technical route of hydrogen electrolyzers. On October 13, 2022, Mingyang Hydrogen Energy rolled off the assembly line of the world's largest single water electrolysis hydrogen production unit at that time. As a clean and efficient secondary energy source, hydrogen energy plays an important role in promoting the energy science and technology revolution. Benefiting from the broad market space, the hydrogen energy industry chain contains multiple trillion-level "tracks" including electrolyzers. At present, the global hydrogen market, including Asia, is heating up at an accelerated pace. The European Hydrogen Roadmap: A Sustainable Pathway to Europe's Energy Transition proposes that by 2030, hydrogen energy will be widely used, and hydrogen will replace 7% of natural gas. In February 2023, the European Union redefined the composition of renewable hydrogen, requiring that electrolyzers producing hydrogen must be linked to new renewable electricity production to ensure that the production of renewable hydrogen incentivizes the integration of renewable energy into the grid. In March of the same year, the European Union stipulated that renewable hydrogen should account for 42% of industrial hydrogen demand by 2030. To meet this quota, a total production of 2.1 million to 4.2 million tonnes of renewable hydrogen is expected to be required. In the United States, the U.S. Department of Energy announced that it will spend $7 billion to establish seven regional clean hydrogen centers across the United States to produce hydrogen fuel and create a new hydrogen industry.