Signing of contract for Hehai New Energy’s project in Lanzhou New Area to produce 1 million tons of green methanol per year

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In July 2025, during the event for the centralized signing of key investment attraction projects in Lanzhou as part of the city’s efforts to achieve high-quality development and the 31st Lanzhou Investment Promotion Fair, Lanzhou New Area successfully signed an agreement for a new energy project led by Hehai Group, with a total investment of 4 billion yuan. This project aims to produce 1 million tons of green methanol per year; once operational, it is expected to generate output worth over 2 billion yuan and taxes of over 200 million yuan, while also creating jobs for more than 500 people. Zhao Yuning, director of the Project Construction Center in Lanzhou New Area, told reporters that the River-Sea New Energy project, which involves the production of 1 million tons of green methanol per year and was signed at the Lanzhou Investment Promotion Fair, is of great significance to Lanzhou New Area and the chemical industry park. It will play a key role in promoting the development of the methanol-to-olefins and silicone industries within the park. Hehai New Energy Group Co., Ltd. is a clean and smart energy investment platform under Wanhua Chemical Group (stock code 600309). It is a mixed-ownership enterprise established through a joint venture between Wanhua Chemical Group and Jiangsu Hehai New Energy Co., Ltd., with a registered capital of 2 billion RMB. The company is dedicated to the investment and operation of urban energy sources (cooling, heating, electricity, gas). It is one of the largest professional investors in clean cooling and heating solutions for cities in China, and it is the only enterprise in China and abroad that possesses corrugated plate heat transfer technology for clean energy applications. The company has numerous experience in investing in and operating urban heating and cooling systems; it has carried out such projects as those in Guangzhou University Town, Guangzhou Asian Games City, Hefei Radio and Television Center, Guiyang Future Ark, Changsha Binjiang New City, Nanchang Ganjiang New City, Shanghai Hongqiao Business District, Shanghai ** Convention and Exhibition Center, Beijing Tongzhou New City, Jinan East City Heating System, Tai’an West City Heating System, and Yantai Urban Heating System. On February 26, Hehai New Energy Group officially signed a Tripartite Cooperation Framework Agreement for the 200,000-ton green methanol production project with the Zhangqiu District Government of Jinan City and Mingquan Group Co., Ltd. The Jinan Dongcheng Lvcun project utilizes world-leading ion liquid gasification, electrolysis, and synthesis technologies to achieve greener raw materials, lower energy consumption, and more efficient processes. Upon completion of the project, it is expected that: 1. Stable industrial steam will be provided, with an annual output of approximately 625,000 tons of steam ； 2. Ensure stable production of glycol, with an annual supply capacity of 400,000 tons of glycol ； 3. The annual comprehensive savings in standard coal amount to approximately 207,100 tons; this results in a reduction of carbon dioxide emissions by 542,700 tons per year, sulfur dioxide emissions by 1,760.63 tons per year, and nitrogen oxide emissions by 1,532.79 tons per year. The green methanol project represents a deep integration of the Hehai New Energy Group’s technical capabilities with the industrial resources available in Zhangqiu District; it is also an important step taken by Mingquan Group toward a green transformation in the chemical industry. Taking this as an opportunity, the three parties will continue to explore innovative approaches to zero-carbon heat sources and green chemical manufacturing, aiming to create a national model for green energy and to contribute a \"Shandong solution\" to high-quality economic development and the construction of an ecological civilization.