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KUALA LUMPUR, Malaysia and SHANGHAI, May 13, 2024 /PRNewswire/ -- Hydrexia Holding Limited (Hydrexia), a leading integrated hydrogen solution provider in China and Lestari H2GaaS Sdn Bhd (LHSB), a renewable energy and hydrogen technology commercialization arm of Petroliam Nasional Berhad (PETRONAS) in Malaysia today announced that the two companies have entered into a Technology Collaboration and Commercialization Agreement (TCCA) to leverage the technological and market strengths of each other to better serve the hydrogen development needs in Sarawak, Malaysia.
Under the framework of TCCA, both companies set forth key cooperation initiatives which include joint technical collaboration and commercialization of hydrogen application technology in a phased approach. The planned technical collaboration will focus on hydrogen applications in the areas of purification, storage and transportation, and refueling station. Both companies will jointly explore hydrogen application project opportunities to meet the local hydrogen development needs by integrating Hydrexia's hydrogen technology products across the hydrogen industry value chain.
This newly-formed partnership marks an important milestone for Hydrexia's business expansion in Southeast Asia with continued success. Meanwhile, it also reinforces the strong commitment of Hydrexia to serve the growing hydrogen business needs in the region by collaborating with local partners.
"We are excited about forming this strategic partnership with LHSB. It not only further expands the scale of our business expansion in Southeast Asia, but also adds significant depth in our local business operation in this region," said George Gan, the Chief Executive Officer of Hydrexia Southeast Asia. "The collaboration with LHSB enables us to best utilize our hydrogen technology solutions to serve the needs of our customers in Malaysia. We look forward to expanding the cooperation with LHSB going forward," Gan added.
"We are happy to have chosen Hydrexia as our important technology and commercial partner," said Colin Patrick, the Chief Executive Officer of LHSB. "Our decision to go with Hydrexia is based on its strong overall technology capability as well as its commitment to developing the local hydrogen market in Malaysia. I am confident about the prospects of this partnership," Colin continued. "Through this TCCA, we commit ourselves to fostering innovation, driving sustainable practices, and making significant strides towards a net carbon zero future. The hydrogen projects we are embarking upon will not only contribute to decarbonizing industries but also open new possibilities in transportation, energy storage, and beyond within this region," Colin mentioned.
The optimal combination of technology and market advantages achieved through this collaboration will enable both companies to fully address the needs for green energy in the Sarawak region in Malaysia. Hydrexia is fully committed to developing this new partnership both technologically and operationally.
[About Lestari]
Lestari H2GaaS is the hydrogen technology commercialization arm of Petroliam Nasional Berhad (PETRONAS), the national oil and gas company of Malaysia. Lestari is presently pursuing a series of Hydrogen Production Facility developments in Sarawak and supply of lectrolyzer globally via Sarawak Electrolyser Assembly and Distribution Facility (SEA-DF). Its service includes an end-to-end hydrogen solution designed to support market application, through its core & proprietary technology, PEM lectrolyzer. It aspires to empower its customers across industries who seek versatile hydrogen solutions in driving low carbon targets within their business.
[About Hydrexia]
Hydrexia Holding Limited is a leading integrated hydrogen technology solution provider in China with global reach. The company specializes in providing technology solutions for hydrogen production, storage, transportation, and end-use applications. Leveraging its solid R&D capabilities and industry-leading technology, Hydrexia aims to effectively address the technology and application needs across the global hydrogen industry value chain.
