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Meijin Energy and Jingneng Technology sign agreement to collaborate on hydrogen energy development and utilization. Author/Source: China Securities Network. Date: October 28, 2020. Clicks: 3. Meijin Energy announced on October 24 that it had signed a Strategic Cooperation Framework Agreement with Beijing Jingneng Technology Co., Ltd., a subsidiary of Jingneng Group (hereinafter referred to as “Jingneng Technology”), on October 22. The main contents of the agreement involve investing in the construction of smart integrated energy demonstration projects in regions such as Guangdong, Shanxi, Shandong, Zhejiang, and Inner Mongolia, which are under the company’s development scope. Under the terms of the agreement, Jingneng Technology will leverage its strengths as a state-owned enterprise based in the capital in terms of energy supply assurance, as well as its capabilities in investment and financing and its ability to develop various energy-related businesses in a coordinated manner. It will establish demonstration operation and management platforms for fuel cell vehicles in regions such as Guangdong, Shanxi, Shandong, Zhejiang, and Inner Mongolia that are developed by Meijin Energy (including but not limited to these areas), and it will build smart integrated energy projects that include hydrogen industry parks (towns), distributed photovoltaic and wind power systems, clean energy-based heating solutions, hydrogen production using green electricity, and fixed-type systems for supplying heat, power, and cold energy using hydrogen. These efforts will help Meijin Energy create a leading green, low-carbon hydrogen industry park in China and around the world. Meijin Energy will leverage its existing coal chemical hydrogen production capabilities as well as its advantages in the entire hydrogen industry chain, to provide high-quality hydrogen resources and application opportunities for cooperative projects. The two parties combine their respective strengths to establish a joint venture, which will serve as a platform for collaborative development of hydrogen energy, thereby promoting the advancement of hydrogen energy across all stages – production, storage, transportation, refueling, and utilization. In addition, Jingneng Technology will also examine the feasibility of participating in Meijin Energy’s private placements and fund projects. The two parties will study the possibility of establishing a joint venture to invest in equity stakes in various companies in the hydrogen energy sector as well as in fund projects, and explore other more in-depth forms of cooperation at the capital level. Meijin Energy stated that in the future, the two parties involved in the agreement will leverage the company’s advantages in terms of its presence in the hydrogen energy industry chain and across various regions. By combining Jingneng Technology’s resources, capital, as well as its strengths in the development of multiple energy-related services, they will establish a joint venture to enable resource sharing and complementary strengths. The joint venture is committed to becoming a first-class comprehensive energy service provider. Based on hydrogen energy development, it will combine distributed photovoltaic systems, clean energy heating, green electricity for hydrogen production, and fixed-type hydrogen-based combined heat, power, and cooling systems in order to promote the use of hydrogen energy in various applications.