Hydrogen: Voith and Weifu have signed a cooperation agreement
The German technology company Voith Group and China’s Weifu Hi-Tech, a subsidiary of Wuxi Industrial Group, have signed a strategic cooperation agreement on type IV high-pressure hydrogen storage systems. The two parties will work together to carry out research and innovation, large-scale production and promotion and application of hydrogen storage cylinder technology. Executives from Wuxi, Voith Composites and Bosch Group attended the signing ceremony.
With the assistance of Bosch (China) Investment Co., Ltd. , Voith and Weifu Hi-Tech join hands to launch a strategic cooperation. This will establish joint ventures in Germany and Wuxi, in China’s Jiangsu province, aiming to cover the major markets in Europe, America and Asia, and promote the research and development and commercial application of type IV high-pressure (70 MPa) hydrogen storage vessel technology. This will not only promote the widespread application of hydrogen storage cylinders in transportation, electric power, industry and other fields, but also mark a solid step forward in global large-scale development and production of hydrogen storage cylinders.
The total project investment is approximately 120 million euros. After completion, the annual revenue of the project is expected to exceed 1 billion euros, providing strong support for Voith Group’s leading position in the field of global hydrogen storage technology
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