CIMC Enric and Panasonic Corporation inked MOU Jointly Develop Hydrogen Combined Heating and Power System in China

(5 Nov 2021 – Hong Kong) - CIMC Enric Holdings Limited (“CIMC Enric” or “the Company”) together with its subsidiaries (the "Group") (Stock Code: 3899.HK) today announced that it has inked a Memorandum of Understanding ("MOU") with China & Northeast Asia Company of Panasonic Coropration ("Panasonic") to jointly develop products for integrated hydrogen power applications (Combined Heat and Power or CHP) (“Hydrogen CHP System”) based on Panasonic's hydrogen CHP module and technology.

Both parties will invest in and stockpile technologies for the scaling up of comprehensive hydrogen power application products in China to improve the efficiency of hydrogen utilization and contibute to the implementation of the national strategy of “Carbon Neutrality” and “Emission Peak”.

Senior management representative from both parties, including Mr. Gao Xiang, Chairman of CIMC Enric, Mr. Yang Xiaohu, General Manager of CIMC Enric, Mr. Tetsuro Homma, Representative Director and Executive Vice President of Panasonic Corporation, and Mr. Shigeru Dohno, CEO of China & Northeast Asia Company of Panasonic Corporation took part in today’s signing ceremony. The event marked the first day of the 4th China International Import Expo ("CIIE"), where the Panasonic Group has had a presence for four consecutive years.

The CHP system utilizes thermal energy created in the process of generating power from hydrogen to provide inexpensive heat for use in industrial and residential buildings, thereby improving energy utilization. Compared to the traditional centralized production, distribution, end-consumption model, the Hydrogen CHP system provides energy directly to end-users, minimizing distribution loss and offering the advantages of high efficiency, low noise, small size and zero emissions.

Ene-Farm, a domestic CHP project in Japan, has already achieved remarkable results, with Panasonic's CHP systems accounting for more than 50% of the installed Ene-Farm devices due to their higher power generation efficiency, longer lifespan and lower cost advantages.

CIMC Enric is a leading supplier of clean energy equipment and a pioneer in the layout of the entire hydrogen industry chain in China. Its business covers hydrogen production, storage, distribution, refueling and application, with advanced integration, intelligent manufacturing capabilities and solid clean energy customer base.

In the framework of the MOU, Panasonic will provide hydrogen CHP modules for buildings while CIMC Enric will provide relevant hydrogen equipment and system integration technologies. Both parties will combine their technological strengths to jointly develop, manufacture and process the modular hydrogen CHP system, as well as promote its application in China.

In September, the Ministry of Science and Technology of China issued the Guide to the Publication of the 2021 Targeted Projects under the National Key R&D Project "Hydrogen Technology", pointing out that the "Hydrogen Park" experimental project should be built by combining the demand for by-product hydrogen and green hydrogen for refueling, heating and CHP in industrial parks.

A hydrogen CHP demonstration system integration and building application design project for Baowu Transportation and Management Building has been officially signed by CIMC Enric and Baowu Clean Energy Co., Ltd in September 2021. The first phase of the project has applied the CHP system from both parties to implement a "1.4 kw hydrogen building CHP pilot device".

Mr. Tetsuro Homma, Representative Director and Executive Vice President of Panasonic Corporation, said, “with the growing interest in hydrogen in China and the gradual advancement of ‘Carbon Neutral’ and ‘Emission Peak’ targets, China's exploration of hydrogen in CHP has begun to move towards a stage of application demonstration, and some provinces and cities in China have already proposed plans to develop CHP. CIMC Enric is a leading equipment supplier for the entire hydrogen industry chain in China, with solid customer base and localized advantages. The cooperation allows Panasonic and CIMC Enric to jointly tap into the enormous market of integrated hydrogen application products to meet the opportunities arising from the rapid development of the hydrogen industry in China.”

Mr. Yang Xiaohu, Executive Director and General Manager of CIMC Enric, said, “Compared to the mainstream heating supply from coal-fired electricity generation, the hydrogen CHP system has tremendous advantages in terms of economy, energy efficiency and cleanliness, and is an effective way to make rational and efficient use of energy. In the future, we will leverage our core equipment manufacturing capabilities in clean energy generation, storage, distribution and application, combined with Panasonic's technological strengths in hydrogen products, to collectively promote the innovative development of CHP applications in different scenarios in China.”

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About CIMC Enric Holdings Limited

Founded in 2004, CIMC Enric Holdings Limited has been listed on the Stock Exchange of Hong Kong since 2005. The Company is affiliated to China International Marine Container (Group) Ltd. (“CIMC”) and is principally engaged in distribution, storage and filling equipment that is widely used for the clean energy, chemical, environmental and liquid food industries. CIMC Enric is one of the industry’s leading integrated service providers and key equipment manufacturers. The Company is a major player in both the production and sales of ISO liquid tanks, as well as high-pressure gas storage and transport vehicles. It is among China’s leading companies in the cryogenic transport vehicles and cryogenic storage tanks market; and among the top three in terms of domestic market share for large storage tanks for LNG receiving stations, modular products for LNG refueling stations, and CNG refueling stations. CIMC Enric has a comprehensive plan for a complete hydrogen energy industry chain. It has built a global marketing network with over 20 subsidiaries located in China, the Netherlands, Germany, Belgium, the United Kingdom and Canada that operate production bases and advanced R&D centres.

For more information, please visit http://www.enricgroup.com

About Panasonic Corporation

The Panasonic Corporation is a global electronics company engaged in business such as productions and sales of various appliances. In 1978, national leaders of China visited one of the television factories of Panasonic Corporation in Japan. During the meeting, the founder, Konosuke Matsushita, expressed his determination to contribute to China. Panasonic Corporation then began its business in China. Throughout these years, the Group was committed to exporting products and technical collaboration to factories in China, and established its first joint venture factory in 1987. Today, the Group's business activities in China involve research and development, manufacturing, sales, services, logistics and promotion.

In April 2019, the Group established its first regional business company, China & Northeast Asia Company, which combines business and regional functions into a single entity. This is the first time that the Panasonic Corporation has established a business outside of Japan.

For more information, please visit https://panasonic.cn/

For inquiries, please contact CIMC Enric

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