[SMM survey] Weekly Review of Electrolyzer Industry (20250516-0523)

Capacity side, the domestic alkaline electrolyzer market maintained 35.77GW this week, with no new capacity added. In terms of deliveries, as of May 23, 2025, Sany Hydrogen delivered a 200Nm³/h PEM electrolysis hydrogen refueling station customized for an Australian customer to Australia. LONGi Hydrogen delivered two 1,000Nm³/h electrolyzers to Australia, and Wolong Inefficient delivered one megawatt-level AEM electrolyzer, with the delivery direction yet to be obtained.

Asuero Hydrogen delivered one 1,000Nm³/h alkaline electrolyzer to Australia, and Xibeiyou Hydrogen delivered one 1,000Nm³/h electrolyzer to a green hydrogen project in Jilin. In terms of PEM, Hydrogen Hui Energy delivered one 50Nm³/h electrolyzer to Europe last week. As of March 20, 2025, domestic companies (including overseas deliveries) delivered a total of 10MW of alkaline electrolyzers (data sourced from public information).

In terms of electrolyzer orders, as of this week, Mingyang Hydrogen won the bid for the 50 standard cubic meter alkaline electrolysis hydrogen production system for the Liupanshan Laboratory. The third batch of auxiliary equipment (hydrogen production system) procurement project for the 2x1,000MW ultra-supercritical unit project of Shaanxi Coal Xinyang announced the bid winner, which was Beijing Power Equipment General Factory, with the winning product being one 1,000 standard cubic meter alkaline electrolyzer. Additionally, LONGi Hydrogen recently signed a supply agreement with Saudi Arabia's NEOM New City for the world's largest single green hydrogen project, confirming at least one 2,000 standard cubic meter alkaline electrolyzer order. As of April 10, 2025, a total of at least 47 orders for 1,000Nm³/h electrolyzers and one 2,000 standard cubic meter alkaline electrolyzer order were confirmed, including 10 from Xingong Green Hydrogen, 16 from Sunshine Hydrogen, 12 from CRRC Zhuzhou, 8 from Sany Hydrogen, and 1 from Beijing Power Equipment General Factory.

I. Policy Dynamics

The National Energy Administration released the "Electrolyzer Hydrogen Production Equipment Energy Efficiency Standard (2025 Edition)", explicitly requiring that new electrolyzer projects have a current density of ≥0.6A/cm² and an energy efficiency of ≥75% under rated conditions, forcing technological upgrades in enterprises.

The Guangdong Provincial Development and Reform Commission announced the implementation of "tolerance acceptance" approval for wind and solar power hydrogen production integration projects, allowing electrolyzer equipment procurement contracts as a prerequisite, with a maximum subsidy of 50 million yuan per project.

The Norwegian government passed the "Green Hydrogen Import Act", exempting a 10% tariff on imported electrolyzer equipment, focusing on supporting local chemical companies in purchasing low-cost overseas equipment.

II. Corporate Dynamics

Guohong Hydrogen signed an agreement with the Ordos Municipal Government in Inner Mongolia, investing 3.5 billion yuan to build a 5GW alkaline electrolyzer production site, expected to be operational by the end of 2026, aiming to cover wind and solar power hydrogen production projects in north-west China.

Siemens Energy signed an agreement with China's SPIC to jointly develop a 30MW high-temperature solid oxide electrolyzer (SOEC), aiming to adapt to the volatility of offshore wind power supply.

Cummins delivered 20 sets of 10MW electrolyzer systems to the Hornsea 3 offshore wind-to-hydrogen project in the North Sea, Europe, along with 100MW hydrogen storage facilities. The project is expected to be operational in 2026.

Doosan Mobility Innovation announced the launch of the world's first liquid hydrogen electrolyzer production line, with a single electrolyzer capacity of 2MW. It plans to export 50 units to the Japan and South Korea markets within 2025.

III. Technological Advancements

The Tsinghua University team unveiled a new-type anion exchange membrane (AEM) electrolyzer, achieving an energy efficiency of 82% at a current density of 0.8A/cm² and a lifespan exceeding 15,000 hours (in laboratory conditions).

The Panasonic Group introduced a low-platinum catalyst electrolyzer, reducing the platinum loading to 0.1mg/cm², cutting costs by 40% compared to traditional PEM electrolyzers. It is expected to enter mass production in 2026.

US-based NEL Hydrogen released a modular "FlexEL" electrolyzer system, supporting plug-and-play operation from 50kW to 5MW, suitable for off-grid distributed hydrogen production scenarios.

The Dalian Institute of Chemical Physics, Chinese Academy of Sciences, developed a titanium-based bipolar plate electrolyzer, enhancing operational stability to 500 hours under direct seawater electrolysis conditions, with a salt tolerance of 500ppm.