[SMM Weekly Review of Hydrogen Energy Industry] 20250723

I. Policy Review: Domestic and International Hydrogen Energy Policy Updates

(I) Domestic Policies

National Energy Administration: Released the "Compilation Regulations for Planning Reports on Renewable Energy Electricity-to-Hydrogen Projects". The document stipulates that the standard requires reports to cover basic data analysis, renewable energy resource assessment, construction condition demonstration, and clearly outline core contents such as engineering capacity configuration, overall scheme design, power system planning, and hydrogen production engineering schemes. Additionally, it necessitates the inclusion of environmental protection, safety requirements, and investment economic benefit analysis. Its release fills the gap in technical standards for green hydrogen industry planning, provides systematic guidance for project development, and promotes the scientific implementation of wind and solar power-to-hydrogen projects. With the current accelerated development of the global green hydrogen industry, this standard will help China seize the initiative in hydrogen energy infrastructure, cost control, and large-scale application, forming synergistic effects with international norms such as the EU's "Renewable Energy Directive" (RED III).

Guangzhou City, Guangdong Province: Released the "Several Measures of Guangzhou Development Zone and Huangpu District, Guangzhou City, on Promoting High-Quality Development in the New Energy Industry and Energy Conservation and Environmental Protection Fields". The measures propose to vigorously promote hydrogen energy infrastructure construction, accelerate the construction of hydrogen refueling stations, support qualified regions and market entities to carry out demonstration construction of hydrogen refueling stations, and enhance hydrogen refueling guarantee capabilities. During the validity period of this policy, a transitional period is set to support hydrogen refueling stations built on industrial land to provide hydrogen refueling services; after the transitional period, support is given for the conversion of construction land for relevant hydrogen refueling stations from "industrial" to "commercial". Construction subsidies are provided for hydrogen refueling stations with a daily hydrogen refueling capacity (calculated based on the hydrogen refueling capacity of the compressor operating for 12 hours a day) of 500 kg or more. Among them, for oil (gas)-hydrogen co-construction stations and integrated comprehensive energy supply stations for hydrogen production and refueling, each station receives a subsidy of 500,000 yuan; for other fixed hydrogen refueling stations, each station receives a subsidy of 250,000 yuan. The total provincial, municipal, and district-level financial subsidies for each station shall not exceed 5 million yuan, and shall not exceed 50% of the fixed asset investment. The terminal selling price of hydrogen for vehicles is reduced. For hydrogen refueling stations whose data are connected to the national, provincial, and municipal fuel cell vehicle demonstration application-related information platforms, operational subsidies are provided. For hydrogen refueling stations with terminal selling prices below 28 yuan/kg before the end of 2025, below 26 yuan/kg before the end of 2026, and below 25 yuan/kg before the end of 2027, the district-level finance provides subsidies of up to 4 yuan/kg, 3 yuan/kg, and 2 yuan/kg respectively based on the actual sales volume of hydrogen, with the annual subsidy for each station not exceeding 1 million yuan.

Deqing County, Zhaoqing City, Guangdong Province: Released the "Implementation Plan for Carbon Peaking in Deqing County". The document points out that the construction of the Huahai Energy Deqing Industrial Park natural gas cogeneration project should be steadily and orderly promoted, and the integrated development of natural gas and new energy should be advanced. By 2025, the total installed capacity of natural gas power generation will reach 240MW. The application of new energy ships such as inland river LNG-powered and electric ships, as well as hydrogen-powered ships, will be vigorously promoted. By 2025, the Xijiang Energy LNG refueling station will be completed and operational, and the construction of the CNOOC Yuecheng LNG refueling station will be orderly advanced.

(II) Foreign Policies

European Commission:Released a document titled "Methodology for Accounting Greenhouse Gas Emission Reductions from Low-Carbon Fuels", which for the first time clarifies the emission intensity calculation formulas and certification standards for low-carbon fuels (excluding renewable carbon fuels), including low-carbon hydrogen.

European Union:Guided by the "European Green Deal" and the "European Climate Law", a series of carbon reduction policies have been introduced. Among them, the "EU Fuel Regulation" (FEU) will be officially implemented in 2025, which will promote the accelerated application of renewable fuels in the shipping industry. The Carbon Border Adjustment Mechanism (CBAM) will be implemented in 2026, which will impose carbon taxes on specific imported goods.

Germany:Adopted the "National Hydrogen Strategy", planning to achieve a green hydrogen production capacity of 5GW by 2030.

France:Updated the "National Hydrogen Strategy". A support mechanism with a total amount of 4 billion euros has been established to ensure the competitiveness of the low-carbon hydrogen market over the next 15 years. The adjustment directions include achieving a national electrolyzer installed capacity of 4.5GW by 2030 and 8GW by 2035; strengthening technological autonomy in the entire hydrogen energy industry chain; developing a low-carbon hydrogen transportation network; and ensuring the basic conditions for the development of the hydrogen energy industry.

United States:US President Trump signed the "Big and Beautiful" bill, which includes a two-year extension until 2028 for the commencement deadline of hydrogen energy projects eligible for tax credits. Hydrogen energy projects originally scheduled to commence before January 1, 2026, to enjoy tax credits of up to $3 per kilogram, are now extended to January 1, 2028.

II. Corporate Dynamics: A Surge in Project Signings and Technological Cooperation

(I) Project Intelligence

Xieqing (Shanghai) New Energy Technology Co., Ltd.:Tender for 300 composite material gas cylinders for 20L drones, with the bid opening date from July 22, 2025, to August 6, 2025.

Hydrogen Refueling Demonstration Station at Fuping Service Area (North Zone) on the Beijing-Kunming Expressway:Procurement of hydrogen refueling equipment for the Hydrogen Refueling Demonstration Station Project at Fuping Service Area (North Zone) on the Beijing-Kunming Expressway (second tender), including gas cabinet fabrication and installation, two piston compressors, H35 hydrogen dispensers, high-pressure welded valves, gas storage tanks, sequence control devices, etc.

Zhengwang New Energy Co., Ltd., Xiaoyi City:Tender for the general contracting project of the Zhengwang hydrogen refueling station construction, located on the east side of Fenjie Road, Beiyao Village, Wutong Town, Xiaoyi City, Lvliang City, Shaanxi Province. The project content includes a hydrogen refueling station with a refueling scale of 16t/d, equipped with liquid-driven compressors, hydrogen dispensers, buffer tanks, water coolers, and a station control system, etc.

Fujian Haiqing Technology Co., Ltd.:General contracting EPC project for the green hydrogen production, storage, refueling, and utilization, as well as testing and verification platform project of Fujian Haiqing Technology Co., Ltd., including one rectifier transformer (matching with IGBT hydrogen production power supply), one rectifier transformer (matching with SCR hydrogen production power supply), one IGBT hydrogen production power supply (matching with a 1000 Nm³/h alkaline electrolyzer), one IGBT hydrogen production power supply (matching with a 200 Nm³/h PEM electrolyzer), and copper busbars (including installation).

Procurement by Daye Mining Area, Hubei Province:Procurement of hydrogen energy vehicles for the integrated hydrogen energy mining field construction project of green electricity and green hydrogen production, storage, refueling, and utilization in the Daye Mining Area. The procurement needs include 20 9T dump trucks, 228 31T dump trucks, 18 hydrogen-powered loaders, and 28 hydrogen-powered excavators.

Hynergy and Shanghai Wuliu Automobile Technology Co., Ltd.:Hynergy and Shanghai Wuliu Automobile Technology Co., Ltd. successfully signed an order for 100 fuel cell systems to be used in Zaihe Automobile's 42-ton Z413 hydrogen energy heavy-duty trucks.

(II) Corporate Dynamics

Chunhydrogen Technology:Announced the completion of its third round of financing, led by Hangzhou Gaoxinjin Investment, with several strategic partners such as Xiangtan Electrochemical Industry Investment and Nanxun Industrial Fund following the investment. This round of financing exceeded $200 million, with the funds mainly used for Chunhydrogen product technology development.
R&D and methanol-hydrogen ecosystem construction.

Proton Automotive Technology Co., Ltd.: Successfully completed a B-round financing of several hundred million yuan, which is a key milestone following the signing of the B-round financing intention in 2023.

Toyota Motor Corporation, Shanghai Energy Co., Ltd.: Held a strategic cooperation signing ceremony to jointly explore the second-life application of Toyota's on-board nickel–metal hydride batteries in ESS scenarios and develop applications in the power frequency regulation field.

Hangcha Group: Hangcha Group (Tianjin) New Energy Forklift Co., Ltd. under Hangcha Group officially signed a contract order for 108 units of 3.5-ton hydrogen forklifts with Tianjin Xinheng Power Technology Co., Ltd.

HBIS Group: Signed an export order for 10,000 mt of green steel produced by hydrogen metallurgy, to be delivered to end-users in Italy by the end of August.

III. Technological Advancements: Efficiency and Cost Breakthroughs

(I) Production, Storage, and Transportation

CNPC Baoshishun (Qinhuangdao) Steel Pipe Co., Ltd.: Successfully developed various specifications of "straight seam submerged arc welded pipes" for pure hydrogen transportation (D610x12.7/14.3mm, material/X60MH).

SPIC Central Research Institute: The advanced low-carbon hydrogen storage and transportation team developed a large-diameter (DN150), high-pressure (10MPa) non-metallic flexible hydrogen pipeline, which successfully achieved safe and stable operation for 30 days on a test platform.

CNOOC Engineering Special Equipment Branch: The independently developed design of a "cryogenic liquid hydrogen storage tank" for deep-sea floating platforms received a Principle Approval (AIP) certificate from the China Classification Society (CCS), indicating that its safety and reliability fully comply with the requirements of the classification society.

Dalian Institute of Chemical Physics, Chinese Academy of Sciences: Achieved a breakthrough in alkaline electrolyzer membrane technology: Developed an ultra-thin (20μm) composite separator, increasing the efficiency of the electrolysis system to 85% (LHV) and extending its lifespan beyond 60,000 hours.

(II) Fuel Cell Innovation

Liaoning General Aviation Research Institute: The team led by Academician Yang Fengtian at the Liaoning General Aviation Research Institute of Shenyang Aerospace University successfully completed the maiden flight of China's first four-seat hybrid electric aircraft, RX4M, at Faku Caihu Airport in Shenyang, contributing a new "Chinese solution" to the global development of electric aircraft.

Oriental Hydrogen: Obtained a patent for improving the air humidity system in fuel cell stacks.

Lanshi Equipment: The manufacturing project for the 90MPa ionic liquid hydrogen compressor has achieved phased results and is expected to enter the comprehensive testing phase.

Georgia Power: The second hydrogen-natural gas blended fuel experiment for the M501GAC natural gas turbine, a collaboration with Mitsubishi Power, under partial and full load conditions, has been successfully completed.

Launch of the China-Europe Hydrogen Energy Trade Corridor: Ningbo Port, Rotterdam Port, and Antwerp Port have signed an agreement to jointly build a liquid hydrogen loading and unloading terminal and a cross-border certification system, with the first batch of pilot green hydrogen trade routes totaling 30,000 mt/year (to be operational in 2027).

The US Hydrogen Energy Association (DoE) Takes the Lead in Establishing the "Hydrogen Refueling Station Compatibility Alliance": To unify the 70MPa hydrogen refueling nozzle interface standards, eliminate barriers in hydrogen refueling protocols for automakers such as Toyota, Hyundai, and Nikola, and promote the interconnection of hydrogen refueling networks.