German Hydrogenious Technologies cut a deal with China’s Broad-Ocean Motor as part of a third round of financing. It enables Hydrogenious to offer its unique H2 storage solution in the People’s Republic.
The new strategic partnership will accelerate production of Hydrogenious’ Liquid Organic Hydrogen Carrier (LOHC) hydrogen refuelling stations and establish a large scale H2 infrastructure in China starting from next year. The young company is a spin-off from research first undertaken at the FAU Erlangen-Nürnberg and has now received funding for the first time.
For Hydrogenious Technologies’ CEO Dr. Daniel Teichmann, this latest cooperation “transforming the mobility sector (in China) to emission-free technologies. This partnership with Broad-Ocean enables us to be a significant driver in this transformation. We will launch the first LOHC hydrogen refuelling station in early 2019 and will use Broad-Ocean’s resources and experience to ramp up a large-scale roll-out plan over the following years.”
Said cooperation provides the local production, operation and service for the Chinese LOHC systems and together the parties plan to install a network of hydrogen refuelling stations throughout China.
Broad-Ocean has actively working on hydrogen infrastructure and also hold an investment and license agreement with Ballard Power Systems since 2016.
Moreover, this latest round of financing, saw Anglo American Platinum increase its investment in Hydrogenious. The UK-based venture capitalist also is a long-term shareholder in Ballard Power and supports global networks in the field of hydrogen technology such as the Hydrogen Council amongst others.