Hydrexia Announces Delivery of Magnesium-based Solid-state Products and Groundbreaking for New R&D and Manufacturing Center

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Oct 18, 2023, 09:00 ET

SHANGHAI, Oct. 18, 2023 /PRNewswire/ -- Hydrexia Holding Limited ("Hydrexia"), a leading integrated hydrogen technology solution provider in China, announced today that it has completed the delivery of its first batch of magnesium-based solid-state containers for hydrogen storage and transportation. This product handout marks the first phase of an overall phased delivery plan through 2025. It came three months after the company's announcement of the first industry commercialization of its magnesium-based solid-state containers for hydrogen storage and transportation in July of this year.

With this successful delivery, Hydrexia completed product rollout, customer acquisition, and product delivery all within a short period of six months, thanks to the effective implementations by teams on all fronts. It serves as a true testament to the company's proficiency in product development, manufacturing, as well as business execution. The overall product delivery capability of the company will continue to increase with added manufacturing sites and resources.

Coinciding with the product delivery, the groundbreaking of Hydrexia's new research & development and manufacturing center was kicked off today in the city of Yixing, China. The new center, which is designed to cover 15 acres of land, will be used primarily for research & development, manufacturing, and testing purposes.

The new R&D center is a university-level joint research laboratory with Shanghai Jiao Tong University with a focus on research & development of frontier technologies in the hydrogen industry, while the 10,000-ton level magnesium-based manufacturing facility will bring a much-elevated annual production capacity of magnesium-based hydride containers and hydrogen refueling station related equipment. The center is expected to begin operations by the fourth quarter of 2024.

"We are pleased that the delivery of products to our customer was on schedule. With the visibility of greater demand for our innovative magnesium-based solid-state products, we will continually reinforce our customer-first motto to ensure the high quality of our products," said Alex Fang, the chairman and CEO of Hydrexia. "The new center will not only vigorously fortify our technological competitive edge through continued innovations, but also significantly enhance our annual production capacity to meet the growing market demands," Fang continued.

With its strong technology capability, Hydrexia aims to maintain its market leadership with a focus on advancing technology innovations and enhancing product and solution delivery capability, the key components ensuring the success of the company in the industry.

[About Hydrexia]

Hydrexia Holding Limited is a leading integrated hydrogen technology solution provider in China with global reach. The company specializes in providing technology solutions for hydrogen production, storage, transportation, and utilization. Leveraging its solid R&D capabilities and innovative technology, Hydrexia aims to effectively address the technology and application needs across the global hydrogen industry value chain.

SOURCE Hydrexia