Zynp Corporation announced a partnership with Jinkaien Hydrogen Energy Department to cooperate on solid-state hydrogen storage systems. As for fuel cell energy, the company has the ability to produce 2000 units of fuel cell engines per year, and has completed the production and delivery of the first batch of 50 products.
On June 3, Caixin reported (reporter Liu Yue) that in order to further enrich the hydrogen energy industry chain layout, Zynp Corporation (002448.SZ) joined hands with the GKN Hydrogen Business Unit to cooperate in the solid hydrogen storage system.
Zynp Corporation's Secretary of the Board of Directors Li Pei told reporters from Caixin that the memorandum of understanding between the company and the GKN Hydrogen Business Unit was just signed in Europe, this is the first step, we will start to cooperate (solid hydrogen storage system) in the domestic market. The company has had cooperation with GKN Automotive Business Division in high horsepower internal combustion engine components since 2005, and this cooperation is a further development.
Zynp Corporation announced tonight that on May 31, 2024, the company signed a Memorandum of Understanding on the Cooperation of Solid Hydrogen Storage System in the China Region with GKN Hydrogen GmbH, and the two parties will carry out deep strategic cooperation on solid hydrogen storage system.
According to the memorandum of understanding, the two parties will cooperate in the Chinese market, introduce GKN's solid hydrogen storage system, and carry out sales activities of the system. The effective period is from May 31, 2024 to December 31, 2026.
Zynp Corporation stated in the announcement that at present, GKN has mature technology in the field of solid metal hydrogen storage, and has achieved practical results. With its many advantages such as low-pressure operation, 100% recyclability, and no capacity loss, GKN has successfully exported and operated its hydrogen storage system in many countries such as Europe, North America, and Australia.
From the industry perspective, according to the research report of Huabao Securities, hydrogen energy storage and transportation, as the "bottleneck" link in the entire industry chain, its cost reduction space and hydrogen storage efficiency have attracted much attention from the market. The advantages of solid hydrogen storage in terms of hydrogen storage density and intrinsic safety performance are obvious, and it is expected to further open up the road of large-scale application. However, the research report of Huabao Securities also pointed out that solid hydrogen storage relies on the chemical properties of materials and reversible storage conversion ability. If the technological research and development does not meet expectations, it will affect the overall commercialization process of the industry.
In terms of hydrogen energy layout, Zynp Corporation recently stated during institutional research that it has built a new hydrogen energy industry pattern with five major industries: hydrogen fuel cell engines, bipolar plates, compressors, humidifiers, and hydrogen circulation pumps. In 2023, the company's hydrogen energy division completed the construction of the first hydrogen fuel cell engine production line and performance test bench, with the capacity to produce 2,000 fuel cell engines per year, and completed the production and delivery of the first batch of 50 products, supporting the first batch of fuel cell vehicles in Jiaozuo City and put into operation.