CHINA-Richem and Nedstack have promised to mass produce and deploy PEM fuel cell power plant technology at economic cost levels as part of a new partnership.
The two companies yesterday signed a Memorandum of Understanding (MoU), through which they will work together to industrialise the Nedstack PemGen® stationary fuel cell power system portfolio.
Initially, the partnership will focus on the Chinese domestic market, however, both companies are open towards further expansion in order to maximise their combined impact.
Nedstack’s PemGen® portfolio of PEM Power Plants relies on industrial components to deliver fuel cell systems that can last as long as any conventional power plant and to offer the best possible price per kilowatt-hour.
Commenting on the partnership, Deng Zhaojing, CEO of CHINA-Richem, said, “As an innovation and technology driver of CNCEC, a world-leading EPC company, CHINA-Richem is committed to achieving a Net Zero Society.”
“We are proud of having Nedstack, a world class PEM fuel cell technology provider, as partner, and are confident that not only both companies but also whole Society will benefit from this hand in hand cooperation.”
Arnoud van de Bree, CEO of Nedstack, added, “The only way we can solve our global environmental challenges is to develop global solutions and we are very pleased in having CHINA-Richem now as a partner in pursuing this goal.”
“The partnership between Nedstack and CHINA-Richem brings together world class PEM fuel cell technology with world class EPC-expertise.”