Tuesday, 19 December 2017

Nedstack signs JV agreement with Chinese partner Huaxia

Source: "Nedstack signs JV agreement with Chinese partner Huaxia and other related entities", Nedstack, 12th December 2017

December 12th 2017 – Together with her associated system partner Hymove, Nedstack has formalized its cooperation today with Huaxia and several related entities, by the formal signing of a joint venture (JV) agreement. This marks a milestone in the internationalization and industrialization of Nedstack and its proprietary technology. The signing ceremony took place in the city of Zhangjiagang, which is not only a leading hub for hydrogen and fuel cell technology, but also the seat of the JV.

Our local JV is named HuaHe and will aim at industrialization and commercialization of fuel cell stacks and fuel cell systems for the Chinese domestic commercial vehicle market. Doing so the JV will build, sell, test and service fuel cell systems and provide application engineering support for vehicle manufacturers to integrate such systems into their vehicle platforms.

Nedstack will support HuaHe by supplying critical components, enabling the use of her intellectual property and by providing management support. The JV aims to install a production system with an annual output capacity of 3.000 commercial vehicle Fuel Cell Power Pack systems.

Mister Wu Jian Min: “This joint venture further completes the Hydrogen Technology eco-system in Zhangjiagang and is strongly supported by the Zhangjiagang Economic & Technological Development Zone Administration Commission. We are already leading the market by offering state-of-the-art hydrogen fuelling and hydrogen storage systems and are now able to package and supply full hydrogen drivetrain solutions.”

Mister Arnoud van de Bree, CEO of Nedstack and Vice Chairman of HuaHe, states: “This JV marks a second milestone in our strategic dedication to the Chinese market after we have delivered and commissioned the world’s largest PEM Power Plant last year in Liaoning Province. This joint venture combines the innovative strengths of Nedstack Fuel Cell Technology with the industrial and commercial strength of our Zhangjiagang based partners. Our partnership is built upon long lasting contacts and a very strong basis of mutual trust and joint understanding.”

The commercial undertakings of the JV will commence with execution of the DongFeng Commercial Vehicle fuel-cell application contract signed on November 15 in Wuhan as part of the Wuhan IPCFCF International Friendship City Forum.

Nedstack is a Dutch independent and one of the world’s leading, fuel cell manufacturer, producing Proton Exchange Membrane (PEM) fuel cells for heavy duty transport and for stationary applications such as PEM power plants and telecom backup. Founded in 1999 as a spin-off of Akzo Nobel, Nedstack has been able to deploy significant numbers of PEM fuel cell stacks in the world, gaining extensive experience on PEM fuel cell operation for different applications. Nedstack has demonstrated very long lifetimes and high efficiencies of their products.

For more information about Nedstack, please visit http://nedstack.nl