[SMM Analysis] Weekly Review of the Electrolytic Cell Industry, 20250220-20250227

This week, the total capacity of the alkaline electrolyzer market remained at 35.77 GW, with deliveries maintained at 1,044.51 MW by the end of 2024. There were no new advancements in PEM, AEM, and SOEC technologies. Some enterprises and green hydrogen projects made progress, but the impact on electrolyzer deliveries and competition was relatively small.

I. Corporate Collaboration and Project Implementation

1. Shanghai Hyfun Energy Group Co., Ltd.
   • On February 21, Shanghai Hyfun Energy Group Co., Ltd. deepened its cooperation with Qingpu District and signed a framework cooperation agreement and a settlement agreement, marking further expansion in the hydrogen energy sector.
2. Changji Prefecture People's Government and Dongfang Electric Corporation Dongfang Boiler Co., Ltd.
   • On February 20, the two parties signed a framework cooperation agreement to conduct in-depth collaboration in areas such as high-end pressure vessel equipment, hydrogen energy application demonstrations, and wind power resource development. They plan to invest in building a large-scale integrated energy base featuring "wind, solar, hydrogen, and storage" multi-energy complementarity.

II. Corporate Developments and Progress

1. Chongqing Promotes Full-Chain Hydrogen Energy Development
   • On February 20, the Chongqing NDRC issued a document proposing the promotion of full-chain hydrogen energy development, including "production, storage, transportation, and utilization," and the creation of the "Chengdu-Chongqing Hydrogen Corridor." Although this policy does not directly target electrolyzer companies, it provides a broader market outlook for hydrogen electrolyzer enterprises.
2. Jixian Wind, Storage, Hydrogen, and Methanol Integrated Project in Heilongjiang
   • On February 24, this project completed its filing process, with a total investment of 2.31 billion yuan. The project uses hydrogen produced by water electrolysis and carbon dioxide gas from fermentation as raw materials to produce green methanol with an annual production capacity of 130,000 mt. The advancement of this project indirectly boosts the demand for hydrogen electrolyzer enterprises.

III. Electrolyzer Tenders and Procurement

1. Lvliang Economic and Technological Development Zone New-Type Materials Industrial Park Photovoltaic Hydrogen Production Integrated Construction Project
   • This project initiated a tender on February 25, planning to purchase 28 units of 2 MW (400 Nm³) AEM electrolyzer equipment and related supporting facilities. This tender activity provides market opportunities for electrolyzer companies.
2. Shenzhen Energy Otog Banner Wind and Solar Hydrogen Production Integrated Green Ammonia Synthesis Project
   • This project also initiated a tender on February 25, with the procurement content focusing on hydrogen production unit system integration. Although the procurement content does not directly mention electrolyzers, it is highly likely that electrolyzer equipment is included in the hydrogen production unit system integration.