$69 Million Solid-State Hydrogen Storage Equipment Project Lands in Qingdao

Rendering of the project complex

A new solid-state hydrogen storage equipment project with a total investment of RMB 500 million (approximately $69 million) has been secured for the Qingdao Hydrogen  Industrial Park, marking a new development in the hydrogen  industrial chain in Qingdao’s West Coast New Area.

The project was introduced by Qingdao Xinbo Holding Group Co., Ltd. and will be invested in and developed by Qianhydrogen (Beijing) Energy Technology Co., Ltd. With a planned investment of RMB 500 million, the project will be developed in two phases and will produce solid-state hydrogen storage equipment for a wide range of applications, including hydrogen-powered two-wheelers, three-wheelers, tourist shuttle vehicles, backup power systems, passenger cars and cold-chain logistics vehicles.

Once both phases are fully operational, the project is expected to generate annual operating revenue of RMB 2 billion.

Qingdao Hydrogen Energy Industrial Park is the city’s only green energy industrial park and its only provincial-level green power industrial park. The park focuses on key segments of the hydrogen  industry, including fuel cell systems, hydrogen production, storage and refueling equipment, and key materials, and aims to build a leading hydrogen  industry cluster in China.

The park’s “Huawang Zhixing” hydrogen-powered shared bicycle brand has already deployed more than 1,500 hydrogen-powered shared bikes, which are now in operation. The application scenarios of these vehicles align closely with those targeted by the new solid-state hydrogen storage equipment project.

The industrial park will accelerate the construction and implementation of the project and promote the commercialization and large-scale deployment of solid-state hydrogen storage equipment.