CM Energy Accelerates Its Green Energy Transition by Increasing Its Stake in A Leading Hydrogen Electrolyzer Company

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Nov 20, 2023, 03:11 ET

HONG KONG, Nov. 20, 2023 /PRNewswire/ -- On November 17th, the signing ceremony of Capital Increase Agreement was successfully held in Xiamen among CM Energy, and Tan Kah Kee Innovation Laboratory ("TKK Lab") / IKKEM Technology and Industry Development (Xiamen) Co., Ltd.( "IKKEM Tech") and CM Xiageng Hydrogen Energy Technology (Xiamen) Co., Ltd.("CM Xiageng"). The parties have agreed to further increase CM Energy's shareholding of CM Xiageng. On the same day, Dr. Gao Xiaoping was appointed by the Board as the Chief Scientist to further enhance the company's innovation and research capability.

The parties have agreed to further increase CM Energy’s shareholding of CM Xiageng.

"By increasing our shareholdings in CM Xiageng, we will be able to fully leverage the synergies among the R&D capability of TKK Lab, our manufacturing capability and our global marketing network to response to our customer's tremendous growing needs in the green hydrogen sector", said Mr. Zhan Huafeng, the Executive Director and Executive President of CM Energy. Mr. Zheng Nanfeng, Director of TKK Lab and Professor of the School of Chemistry and Chemical Engineering of Xiamen University, and Dr. Gao Xiaoping, the Chairman and General Manager of CM Xiageng and TKK Lab Technical Director, are also pleased with the additional investment made by CM Energy and believe that the new investment will strengthen its R&D capabilities and help the company to scale up the production to meet the market needs.

Strong R&D team with Edging Technology

As the technology progress in the hydrogen industry is constantly changing and the hydrogen energy industry becomes more and more competitive, a strong R&D team is the key to gain and maintain the competitive advantage. Project leader Dr. Gao Xiaoping has more than 30 years of experience in hydrogen technology development and application. With support and access of the world's top electrochemical basic research team and the surface interface study equipment of Xiamen University and TKK Lab, the international R&D team headed by Dr. Gao has developed the innovative composite membranes, the electodes and the 1000Nm3 ALK electrolyser system. The new electrode and composite membranes has accumulated more than 300,000 hours of testing data, and it is expected that the 2 meter wide new composite membranes will be trial-produced next year.

Industry-leading Performance certified by CNAS

Based on its solid R&D foundation and depth, CM Xiageng has developed its innovative ALK hydrogen production system, electrodes, membranes and other key components for off grid hydrogen production, which made it one of the few integrated manufacturers in the industry who can develop and produce all key components of the hydrogen production system. It is reported that products of CM Xiageng's electrolyser leads the industry in many areas such as lower energy consumption, shorter cold start time, smaller size and less weight. For example, its first generation 1000Nm³ ALK electrolyzer product has a DC energy consumption of less than 3.8kWh/m³@2000A/m² and 4.1 kWh/m³@4000A/m², and achieved rapid start-up at room temperature,which demonstrate its leading performance in the industry. The development of next generation electrolytic cells have been completed, and test and mass production are expected next year.

About CM Energy

CM Energy Tech has been serving the energy industry for nearly 30 years and is one of the leading companies in the world in designing, manufacturing and supplying high-end and mission critical equipment, technology, services and solutions to the global energy industry. CM Energy's green technologies include key equipment in offshore wind turbine installation vessels (WTIV) and offshore wind service vessels (SOV). CM Energy's hydrogen technologies include its innovative hydrogen electrolysers and equipment for hydrogen refill stations.

CM Energy is listed on the Main Board of the Hong Kong Stock Exchange with stock code "HK.206". CM Energy's largest shareholder is China Merchants Industry Group.

About CM Xiageng

CM Xiageng is a joint venture between CM Energy and TKK Lab. The company focuses on the R&D, manufacturing and sales of alkaline-based electrolyzers and key materials. The company leverages the Xiamen University 's strong research facilities and faculties in the College of Chemistry and Chemical Engineering of Xiamen University. TKK Lab is one of top innovative labs in the country and has nine academicians of the Chinese Academy of Sciences.

SOURCE CM Energy Tech Co., Ltd.