(19 September 2024, Hong Kong) – CIMC Enric Holdings Limited and its subsidiaries (collectively, "CIMC Enric" or "Company") (stock code: 3899.HK) are pleased to release that its subsidiary, Jingmen Hongtu Special Aircraft Manufacturing Co., Ltd. ("Jingmen Hongtu"), has successfully signed a contract with Indian customer to construct 12 units of 2,953m³ hydrogen storage spherical tanks for a green hydrogen and green ammonia project in Omen, Middle East, with a total value over USD10 million. The signing of this contract marks CIMC Enric's first overseas hydrogen storage spherical tanks project and highlights the Company's global leadership in hydrogen storage and transportation technology and equipment, laying a solid foundation for both parties to jointly step into the global new energy market.
It is reported that this customer is one of the largest renewable power producers in South Asia, with over 8.5 GWp of renewable energy installed capacity. In 2021, this customer established the world's first green ammonia plant in Rajasthan, India, which received the TÜV Rheinland certification as the world's first green ammonia project in 2022. With its rich industry experience and advantages, this customer is committed to becoming a global leading provider of green energy, with operations around the world. They have offices and representatives in Japan, the Middle East, Europe, the United States, and China, responsible for marketing and supplying green hydrogen and its derivatives to the international market. They are also developing multiple green hydrogen and green ammonia projects in India, Oman, and the United States, to produce 10 million tons of green ammonia and its derivatives annually by 2032.
Mr. Zheng Zhijun, General Manager of Jingmen Hongtu, a subsidiary of CIMC Enric stated: "The signing of this order for 12 hydrogen storage spherical tanks, as CIMC Enric's first overseas hydrogen storage spherical tanks business order, fully demonstrates the Company's strong development momentum in the international hydrogen energy market and reflects international customers' high recognition of the Company's technological research and development capabilities and product quality."
Since entering the spherical tanks field, the Company has continuously driven technological upgrades and product innovations in the spherical tanks market through its exceptional technical strength and keen insight into market trends. In the face of fierce competition in the energy storage sector, CIMC Enric actively explores and practices in the hydrogen energy field, focusing on large-scale, lightweight, and intelligent spherical tank technologies to enhance product competitiveness, leveraging its strong R&D capabilities and proficient manufacturing experience. Currently, the Company can construct 10,000m³ medium-pressure hydrogen storage spherical tanks and has completed and delivered several large hydrogen storage spherical tanks demonstration projects domestically. Such capacity for the spherical tank engineering business has led the market share for eight consecutive years. In the middle of this year, the Company also successfully won the bid for 15 hydrogen storage spherical tanks for the largest green hydrogen-ammonia-methanol integration project in the country, contributing to the creation of the "Northern China Hydrogen Valley."
Ms. Yang Baoying, Senior Consultant of CIMC Enric and Head of CIMC Hydrogen, stated "As the global leading provider of low-carbon, smart and clean energy solutions, CIMC Enric is currently the only company in China that has established a diversified hydrogen, ammonia, methanol storage and transportation technology portfolio, including medium-pressure, high-pressure, liquid ammonia, liquid hydrogen, and methanol. We have successfully implemented various applications across the entire industry chain, from upstream production to downstream comprehensive energy application scenarios, establishing ourselves as an integrated service provider. The booming development of global green hydrogen, ammonia, and methanol presents new opportunities for CIMC Enric. We will actively strengthen our presence in the domestic market and expand our overseas business, participating in the construction of hydrogen energy projects both at home and abroad, to create a lasting vision for the development of global green and clean energy."
