[SMM Weekly Review of Hydrogen Energy Industry] 20250529

I. Policy Review

(I) National-level Policies

On May 23, Premier Li Qiang of the State Council chaired an executive meeting of the State Council, during which the "Action Plan for Green and Low-Carbon Development in the Manufacturing Industry (2025-2027)" was reviewed and approved. The meeting emphasized the need to accelerate green technological innovation and the promotion and application of advanced green technologies, strengthening the green foundation of new-type industrialization. In terms of actively promoting the application of clean and low-carbon hydrogen, the meeting focused on addressing bottlenecks in its application, further advancing integrated policy innovation, accelerating its large-scale application in industries such as metallurgy, chemicals, and petrochemicals, and achieving breakthroughs in multi-scenario applications in areas such as industrial green microgrids, green shipping, and green aviation. This provides policy direction and support for the large-scale application of hydrogen in the industrial sector.

On May 21, seven departments, including the Ministry of Ecology and Environment and the National Development and Reform Commission, jointly issued the "Action Plan for the Protection and Construction of Beautiful Rivers and Lakes (2025-2027)". The document, in terms of ship propulsion, highlighted the need to accelerate the promotion and application of new energy ships powered by green methanol, green ammonia, and green hydrogen. This plays a crucial role in expanding the application of hydrogen in the transportation sector, particularly in the shipping industry.

(II) Local-level Policies

Recently, four departments in Shanxi Province jointly issued the "Notice on Implementing Toll Subsidies for Hydrogen-Powered Trucks Traveling on Expressways in Shanxi Province (Trial)", deciding to implement full toll subsidies for hydrogen-powered trucks traveling on expressways from 0:00 on June 1, 2025, to 24:00 on May 31, 2027. This is an important measure taken by the local government to promote the application of hydrogen-powered trucks and reduce operating costs. Prior to this, multiple provinces (municipalities) had already introduced policies to reduce or exempt expressway tolls for hydrogen-powered vehicles. The inclusion of Shanxi Province further expands the coverage of these policies.

On May 21, the Shannan City Public Transport Company in Tibet issued a procurement announcement for the project of purchasing 10 hydrogen-powered buses by the urban public transport company (third time). The procurement method was open tendering, with a budget of 16 million yuan and a maximum price of no more than 1.6 million yuan per bus. Shannan City had already held a launch ceremony for the Hydrogen Application Demonstration Industrial Park in January 2025, and this procurement of hydrogen-powered buses represents an important step forward in promoting the application of its hydrogen energy industry.

II. Corporate Developments

(I) International Corporations

On May 22, 2025, US industrial giant Honeywell announced that it would acquire the catalyst technology division of Johnson Matthey, a well-known UK chemical company, for 1.8 billion pounds (approximately $2.4 billion) in cash. This acquisition will enhance Honeywell's catalyst technology capabilities in hydrogen and other fields, facilitating its further expansion in related industries.

(II) Domestic Enterprises​

1. Energy Equipment Enterprises:​Lanshi Heavy Equipment, a state-owned enterprise in the energy equipment sector, and its subsidiary Guangdong Lanshi Ammonia-Hydrogen Energy Equipment Co., Ltd., successfully signed a contract for a 10Nm³/h PEM water electrolysis hydrogen production equipment project with a Saudi company. This demonstrates the competitiveness of domestic enterprises in overseas markets and the international recognition of their technological capabilities in the PEM water electrolysis hydrogen production equipment sector.​

2. Automotive-Related Enterprises:​Wolong Real Estate announced that its stock abbreviation would be changed from "Wolong Real Estate" to "Wolong New Energy" on May 15, 2025. Although no direct link to hydrogen energy was explicitly stated, this reflects the company's move towards transformation in the new energy sector. Zhejiang Alcohol-Hydrogen Ecology Technology Co., Ltd. completed significant industrial and commercial changes, increasing its registered capital from 1 billion yuan to approximately 1.2 billion yuan, a 20% increase, and introducing new shareholders. This will provide more adequate financial support for its development in alcohol-hydrogen-related businesses.​

3. Energy Enterprises:​At 10:50 a.m. on May 23, the first truckload of high-purity green hydrogen from the Chicheng Hydrogen Production Plant of the Hebei Branch of State Energy Investment Group Guohua Investment (Hydrogen Energy Company) was transported to and unloaded at the Sinopec Beijing Petroleum Qingyuan Street 919 Hydrogen Refueling Station, marking a new breakthrough in the commercial application of green hydrogen by State Energy Investment Group. The Chicheng Hydrogen Production Plant adopts a self-built wind farm to produce green hydrogen through "green electricity" water electrolysis and purification processes, with a total capacity of 4,000 standard cubic meters per hour. The first phase of construction has a rated hydrogen production capacity of 2,000 standard cubic meters per hour, capable of producing 4,200 kg of hydrogen per day, achieving long-cycle commercial production and operation of green hydrogen production, storage, transportation, and utilization.​

III. Technological Advancements​

On May 27, 2025, the hydrogen fuel cell power generation system for heavy machinery, independently developed by United Hydrogen Energy, officially passed the usage test at the Jiaxing Zhapu Port. This power generation system is skid-mounted and integrated, combining energy storage, power generation, and power transformation functions. It is equipped with two sets of 180KW fuel cell units, capable of stable operation in extreme temperature environments ranging from -30°C to 50°C, and supports high-altitude conditions at 2,000 meters above sea level. It operates with zero carbon emissions, characterized by zero emissions and low noise for environmental protection, and ensures safety through a comprehensive safety protection system integrating fire, water, and electric shock prevention. It innovatively supports a combined heat, power, and water supply system, allowing for customized power generation efficiency based on scenario requirements. The technical architecture adopts a modular isolation design and a three-level safety verification system, complemented by an independently developed ultra-long-life fuel cell system (with a lifespan exceeding 40,000 hours), supplemented by uninterruptible power supply redundancy configurations, ensuring long-term stable operation of the equipment in 7×24-hour continuous operation scenarios. In terms of intelligent operation and maintenance, it enhances operation and maintenance response efficiency through remote monitoring, unmanned operation, and automatic warning mechanisms, providing efficient and clean energy support for heavy machinery such as port tire cranes, marking a key step forward in the large-scale application of hydrogen energy in port terminals.​

IV. Industrial Synergy​

(I) Domestic Cooperation​

1. On May 21, Hydrogen Green Energy (Wuhan) Co., Ltd. and Fengqing Hydrogen Energy (Hubei) Technology Co., Ltd. held a signing ceremony for a strategic cooperation agreement in Wuhan. The two parties will jointly invest in the construction of a hydrogen production plant and a hydrogen internal combustion engine generator set project, integrate resources for hydrogen production from wind power and hydrogen energy applications, jointly apply for major national science and technology projects, and create an integrated industrial ecosystem for "R&D, production, testing, and application". Li Xiu, Chairman of Fengqing Hydrogen Energy, and his delegation conducted a field trip to the Yunmeng testing base of Hydrogen Green Energy, where the two sides engaged in in-depth exchanges on hydrogen energy technology prospects, power generation system integration, and other technologies. Currently, two green electricity-to-hydrogen production bases are under construction, with plans to establish six green electricity-to-hydrogen and methanol production bases in China within three years, with a total planned capacity of 100,000 mt/year. They have pioneered a joint development system for the entire hydrogen energy industry chain, constructing a comprehensive industry chain from wind power generation, water electrolysis for hydrogen production, conversion of green hydrogen to green methanol, hydrogen storage, hydrogen transportation, hydrogen (methanol) refueling stations, hydrogen energy storage, to hydrogen energy applications (in automobiles, ships, and bicycles).​

2. On May 28, Inner Mongolia Yitai Group Co., Ltd., Shuangliang Eco-Energy Systems Co., Ltd., and Inner Mongolia Yipai Hydrogen Energy Technology Co., Ltd. signed a strategic cooperation agreement at the Yitai Building in Beijing. The three parties will take the lead in conducting in-depth cooperation in the field of low-carbon green new energy in Inner Mongolia, building the first green and low-carbon mining complex in Ordos, jointly applying for new energy construction projects, and establishing a "wind and solar power-to-hydrogen production and refueling integrated project + zero-carbon hydrogen energy coal logistics and transportation project" tailored to the mining and chemical application scenarios of Yitai Group. They will also collaborate to establish the first green urban logistics support platform in the Inner Mongolia Autonomous Region, promoting the improvement and development of the last mile of the hydrogen energy logistics industry chain. The three parties will further jointly advance the "Inner Mongolia Hydrogen Energy Going Global Plan", leveraging the geographical advantages of the Inner Mongolia Autonomous Region and its hydrogen energy pipeline network resources to expand overseas markets.​

(II) Promotion by Local Industries​

The First Hainan Free Trade Port Hydrogen Energy Vehicle Industry Development Seminar is scheduled to be held at the Haima New Energy Vehicle Experience Center in Haikou, Hainan, on May 28, 2025. The seminar, themed "Collaborating with Hydrogen Energy, Forging Consensus", is hosted by the Department of Industry and Information Technology of Hainan Province, supported by the Development and Reform Commission of Hainan Province, and organized by Hainan Haima Automobile Co., Ltd. Guests from industry regulatory authorities, industry associations, scientific research institutions, universities, as well as the automotive, logistics and transportation, and energy refining industries will attend. They will engage in in-depth discussions and exchanges on hydrogen production, storage, transportation, and refueling, hydrogen energy vehicle R&D and industrialisation, hydrogen energy vehicle operations, and other aspects, jointly exploring the establishment of a zero-carbon emission automotive ecosystem for the entire industry chain in the Hainan Free Trade Port. This is of great significance for promoting the coordinated development of the hydrogen energy vehicle industry in the Hainan region.​