Breakthroughs have been achieved in technologies for using green hydrogen to transform the steel, petrochemical, and coal chemical industries

Leveraging technological innovation, Baofeng Energy has introduced advanced technologies in recent years to build the world’s largest solar-powered water electrolysis hydrogen production facility by a single plant; its annual production capacity reaches 200 million cubic meters. Alkaline electrolyzers with a capacity of 1,000 cubic meters per hour are used to produce green hydrogen. Our current hydrogen production equipment requires 5.2 kWh of electricity to produce 1 cubic meter of hydrogen, with an electricity cost of 0.63 yuan. Taking into account costs such as depreciation and labor, the overall cost of hydrogen production can be kept at around 0.7 yuan per cubic meter.

Reporters learned at the signing and inauguration ceremony of the Carbon Neutrality Joint Research Institute of the Heavy Oil ** Key Laboratory, held in Beijing on the afternoon of August 31, that our city will collaborate with China University of Petroleum (Beijing) to establish such a joint research institute, aiming to use industry-university-research cooperation to promote high-quality development in the region. Collaboration between universities and local communities: uniting as one. Following the principles of complementary strengths, resource sharing, mutual benefit and win-win outcomes, as well as joint promotion of development, the two parties will focus on the major project for transforming old and new drivers of growth in Dongying and the strategic plans for economic and social development, as well as the development needs of Shandong University of Petroleum and Chemical Technology. By leveraging the strengths of China University of Petroleum (Beijing) and the Key Laboratory of Heavy Oils, they will carry out comprehensive and in-depth cooperation in areas such as the establishment of innovation platforms, the transformation of scientific and technological achievements, and talent exchange. This will foster an environment for sharing and interaction among innovative talents and resources, advance the restructuring process of the Key Laboratory of Heavy Oils, and help create a hub for scientific and technological innovation and achievement transformation in Dongying, as well as a model for transforming old and new drivers of growth. Such efforts will contribute to the economic and social transformation of Dongying City and the high-quality development of China University of Petroleum (Beijing). It is understood that the Key Laboratory of Heavy Oil is primarily focused on conducting cutting-edge basic and applied research in areas such as molecular refining, catalytic materials, and energy storage materials. It works on developing key technologies for the low-carbon, efficient, and clean conversion of heavy oil, the production of clean petroleum products, high-value chemicals and materials, as well as the use of green electricity and hydrogen to transform traditional chemical processes. As agreed in the protocol, the university and the local enterprise will leverage the strengths of the Key Laboratory for Heavy Oil to jointly establish a Joint Research Institute for Carbon Neutrality at this laboratory; this includes setting up research laboratories at Shandong University of Petroleum and Chemical Technology, as well as creating pilot-scale testing facilities and bases for the industrialization of research results in Dongying. To promote the transformation of scientific and technological achievements, Dongying will actively mobilize, organize, and encourage the enterprises within its jurisdiction to undertake and implement the technological innovations developed by the Carbon Neutrality Joint Research Institute of the Heavy Oil **Key Laboratory, and provide these enterprises with favorable policies, resources, and tax incentives to facilitate the application of such achievements in Dongying City. China University of Petroleum (Beijing) will selectively assign experts and professors in relevant fields to provide technical guidance and facilitate project collaborations for enterprises in Dongying, help resolve their technical challenges, and offer scientific and technological services such as technical consultation and training, thereby guiding and supporting the operational development of these enterprises.