Hydrogen Cloud Weekly Report: Luoyang will Launch 360 hydrogen Vehicles This Year; Explosion at a hydrogen power plant in South Korea; The control of the first hydrogen bicycle company has changed hands. A new hydrogen vehicle force has fil

Hydrogen Cloud Chain Headlines Weekly Review

Luoyang, Henan Province: By the end of 2026, 360 hydrogen vehicles will be promoted, and the output value of hydrogen energy will not be less than 30 billion yuan

On March 18th, the People's Government of Luoyang City issued the "Notice on the Implementation Plan for the Pilot Construction of Synergistic Innovation in Pollution Reduction and Carbon Emission Reduction in Luoyang City" (hereinafter referred to as the "Notice").

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2. The 392nd batch of public announcements by the Ministry of Industry and Information Technology: The pass rate is 100%, and the combination of Yutong and Reshu accounts for more than half

Among the new products announced in the 392nd batch of the "Announcement on Road Motor Vehicle Manufacturers and Products", a total of 3 vehicle manufacturers, 7 models and 3 fuel cell suppliers have passed the application for fuel cell products.

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4. Shanxi: Adhere to large-scale mass production as the driving force and promote the demonstration application of methanol and hydrogen energy vehicles

New energy vehicles are led by the provincial Department of Transportation. We will adhere to the principle of large-scale mass production as the driving force, promote the demonstration application of methanol and hydrogen energy vehicles, leverage the advantages of resource conversion, intensify the construction of methanol refueling stations and hydrogen refueling stations, support the large-scale operation of methanol heavy-duty trucks and hydrogen fuel cell vehicles in key areas, expand the application scope and increase the promotion quantity.

Domestic and international hydrogen energy and fuel cell industry trends

A hydrogen accident has occurred again in South Korea, with an explosion happening at the Ulsan fuel Cell power Plant

At about 1:20 p.m. on March 20th, an explosion occurred at the construction site of a hydrogen fuel cell power station in Lotte SK Enerut, Nam-gu, Ulsan City, resulting in second-degree burns to the faces and legs of two workers. They are currently receiving treatment in a specialized hospital.

According to the preliminary report that has been issued, the explosion occurred during the cleaning operation of a hydrogen pipeline with a diameter of 15 centimeters and a length of 40 meters. The initial cause of the explosion is believed to be hydrogen leakage when workers injected hydrogen into the pipeline for cleaning. Witnesses at a nearby factory said they heard a loud noise when the explosion occurred, but no fire was observed.

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2. The Mingyang "Muxing No.1" pure hydrogen gas turbine successfully completed full-speed no-load operation

On March 16th, the world's first 30MW-class pure hydrogen gas turbine "Jupiter One" independently developed by Wuxi Mingyang Hydrogen Gas Power Technology Co., LTD., a subsidiary of Mingyang Smart Energy (hereinafter referred to as "Mingyang Hydrogen Gas"), successfully completed the full-speed no-load test of the entire machine. This milestone breakthrough marks a crucial step forward for China in the fields of hydrogen power generation and long-duration energy storage. It not only lays a solid foundation for subsequent commercial applications but also injects strong impetus into the construction of new energy bases in the "desert, desert and wasteland" areas and the realization of the "dual carbon" goals.

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3. A thousand remote alcohol-hydrogen electric light trucks were successfully delivered to Shanghai Shangqiao, further accelerating the alcohol-hydrogen strategy!

On March 17th, Remote New Energy Commercial Vehicles and Shanghai Shangqiao First Class Cabin Supply Chain Technology Co., LTD. (hereinafter referred to as "Shanghai Shangqiao") successfully held the first batch of vehicle delivery ceremony in Shangrao, Jiangxi Province. A large order of 1,000 Remote Xingzhi H9M will be delivered to Shanghai Shangqiao successively, helping Remote to continuously consolidate its leading position in the new energy light truck market. Since Remote held the alcohol-hydrogen product tasting tour in early March, Remote has adhered to the service concept of "customer first" and achieved phased and fruitful results in the exploration and practice of the alcohol-hydrogen electric technology route.

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4. 28.66 million! The first batch of subsidies for hydrogen energy demonstration applications in Ningbo City has been made public

According to the "Public Notice", the subsidy for the construction of hydrogen refueling stations in this period is 5 million yuan, the subsidy for the operation of hydrogen refueling stations in this period is 149,600 yuan, and the subsidy for the promotion and application of a total of 171 fuel cell vehicles in this period is 23.517 million yuan. The total subsidy amount for this period is 28.6666 million yuan.

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5. Hello Bike acquires Yong 'an Bike, and the control of the first hydrogen energy bike company to go public has changed hands

On March 16, 2025, the shared bicycle industry witnessed a significant change as Yong 'an Bike, the first hydrogen-powered bicycle company to go public, changed hands. Yang Lei, co-founder and CEO of Hello Group, acquired 19.67% of the shares from the original actual controller Sun Jisheng and other shareholders through the agreement transfer method of Shanghai Hamo, which he controls. At the same time, Sun Jisheng gave up the voting rights of the remaining 13.77% of the shares. After the transaction was completed, Yang Lei became the new actual controller of Yong 'an Bank. To consolidate its control, Yong 'an Bank plans to issue no more than 71.8194 million shares to Shanghai Hamo through a private placement, raising no more than 840 million yuan. After the issuance is completed, the shareholding ratio of Yang Lei's side will rise to 38.21%.

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6. A new hydrogen vehicle force's SPAC on the US stock market with a valuation exceeding 1 billion US dollars has been filed with the China Securities Regulatory Commission

On March 13th, the China Securities Regulatory Commission (CSRC) announced the notice of filing for the overseas issuance and listing of Skecker International Limited (hereinafter referred to as "Skecker"). It is learned that Skecker has formed a partnership with Finnovate Acquisition Corp., an overseas special purpose acquisition company. The merger was realized to be listed on the Nasdaq Stock Exchange in the United States, and Scage Future simultaneously issued no more than 94,547,709 ordinary shares.

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7. The Xinshuo Railway of the National Energy Group has completed the first repair course of a 2,400-kilowatt hydrogen fuel cell locomotive C1

On March 12th, the Xinshuo Railway of the National Energy Group completed the first maintenance of the country's first 2,400-kilowatt high-power hydrogen energy-powered shunting locomotive C1. Previously, it also completed the maintenance of the country's first high-power locomotive C1 with dual power sources for heavy-haul transportation and dry shunting integration. This marks a key breakthrough in the market application of new equipment for heavy-haul railways in China.

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8. Chinese electrolyzers have helped southern Africa produce its first batch of green hydrogen

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Re-fire Energy expects its losses to expand by approximately 26% to 45% in 2024

On March 14th, Re-Fire Energy (02570.hk) issued an announcement stating that the company expects to record a loss attributable to its owners of approximately 670 million to 770 million yuan for the fiscal year 2024, compared with a loss of approximately 529 million yuan for the period ending December 31, 2023. Based on this calculation, Re-Fire Energy is expected to see its losses expand by approximately 26% to 45% year-on-year in 2024.

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Source: Compiled by Hydrogen Cloud Chain

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