Shanghai, China, March 29, 2017 --(PR.com
)-- Horizon Fuel Cell Technologies (Horizon) has made its intentions clear by establishing a new Joint Venture in China, aiming to capture building momentum for Fuel Cell Electric Vehicles (FCEV) in the Chinese market.
The new Horizon JV has been set up in partnership with the Rugao government, with the purpose of building an industry-leading Fuel Cell development and production facility in the city of Rugao, with the design capacity for manufacturing 10,000 large fuel cell systems annually, able to produce 30MW of clean Fuel Cell power every year. The first stage will deliver 6MW per year of production capacity, with the balance to be brought online to address increasing demand for PEM Fuel Cells in the burgeoning Chinese market.
The benefits to the city of Rugao extend beyond the obvious effects of establishing Rugao as a centre of excellence in Fuel Cells, to improving the local environment through increased use of cleaner power sources, something of enormous value to growing cities throughout China. Total capital investment for the 30MW of production capacity is expected to amount to 1 billion RMB (approximately US$150 million) between 2017 and 2019.
Horizon is best known for commercialising fuel cells in several other areas such as portable personal power, small-format off-grid power and diesel generator replacement for backup power in critical infrastructure. Horizon is also the clear leader in global clean energy education after the recent acquisition of the “Academia” assets from Heliocentris in Germany.
While Horizon has powered vehicle projects in the past, this wasn’t an observable focus for the group as they operated in stealth mode on the high-power PEM Fuel Cell platform. With vehicles moving into focus, and higher-power stationary applications becoming a hot topic in some parts of the world, it is no surprise that established players like Horizon are moving further up the power curve to address these emerging needs. Horizon plans to release more details on their high-power stacks in the coming months.
George Gu, Horizon CEO, was quoted as saying, “Horizon is delighted to work closely with such a progressive local government as that in Rugao, and we see enormous potential for this JV and future projects in China, which will undoubtedly soon lead the world in FCEV’s. Although Horizon wasn’t known to be focusing on the automotive sector, we have had a high priority R&D programme underway for some time, and Rugao government officials were quick to seize the potential to partner with Horizon as we bring game-changing high power PEM Fuel Cell platforms to market during 2017.”
Mr. Ma, Member of the Rugao Municipal CPC Standing Committee, said, “The Rugao government sought to partner with a company with deep technical expertise in fuel cells and substantial operating experience in China. After assessing various options, we concluded that Horizon was uniquely positioned to be our partner of choice, as they are clearly the strongest fuel cell player within China, and in possession of world-class technology. It’s very appealing for our city of Rugao to play a leadership role in commercialising fuel cell systems for vehicle applications in China.”
Horizon will maintain control and majority ownership of the new JV, and sees this as just the first step in the exciting journey of scaling up substantially the manufacturing capability on high-power stacks. Gu added, “Stay tuned for more announcements regarding Horizon’s high-power fuel cell platforms, they are just around the corner.”
About Horizon Fuel Cell Technologies:
Horizon is a world leader in PEM Fuel Cell systems, and in recent years coupled methanol reformer technology with its PEMFC platform to deliver highly reliable, cost-effective temporary and backup power systems.
Horizon is active predominantly in China and South-East Asia, but has partners delivering their clean power solutions in many other markets.
The Chinese city of Rugao is aggressively pursuing a leadership position in the area of electric vehicles and Fuel Cell Electric Vehicles. The new JV with Horizon is a demonstration of the Rugao government’s commitment to the sector.
Rugao is located less than 200km north of Shanghai, in Jiangsu Province.
Contact: Craig Knight firstname.lastname@example.org