United H2 forms joint venture with hydrogen generator manufacturer in China
Published by Poppy Clements,
Assistant Editor
Global Hydrogen Review,
UHL has executed the deal through one of the companies in its group, Power Hydrogen Generation Limited (PHGL), which now owns 35% of the Chinese production company/manufacturing facility, generator IP and brand PWRH2. UHL will use the PWRH2 brand to sell generators globally, specifically focusing on Australia, the UK, Europe and North America.
UHL Chairman, Richard Allen, said: "UHL recognises the significant opportunity hydrogen generators present and has spent the past 18 months looking for a technical partner to access this market. In 2021, the overall generator sales market was valued at US$26 billion and our goal is to provide a clean solution so we can begin taking market share. Through this partnership, we can quickly deliver value to shareholders, as it brings IP, proven manufacturing capabilities and speed to market. Given the strong commercial use case hydrogen generators present, PWRH2 will target large industries dependent on diesel generators, such as oil and gas, mining, construction, agriculture, manufacturing and remote communities and sites."
The UHL team went to China to sign the JV. Whilst there, the company reviewed more technologies that will see them form additional JV's, which will allow them to deliver hydrogen trucks, vans, boats and injection kits for internal combustion engines to market.
Read the article online at: https://www.globalhydrogenreview.com/hydrogen/07092023/united-h2-forms-joint-venture-with-hydrogen-generator-manufacturer-in-china/
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