SINGAPORE and TOKYO, Oct. 23, 2024 /PRNewswire/ -- Hydrexia Singapore PTE LTD, a wholly-owned subsidiary of Hydrexia Holding Limited (Hydrexia), a leading globally integrated hydrogen solution provider, and Kitahama GRF Co. Ltd (KGC), a key power supplier and data center developer in Japan, today announced that the two companies have inked a Memorandum of Understanding (MOU) to jointly develop the hydrogen market in Japan.
Under the framework of the MOU, Hydrexia and KGC will join hands in developing a supply chain of hydrogen applications in Japan. Leveraging the across value chain solution capability of Hydrexia and the local business resources of KGC, both companies intend to cooperate on a wide scope of hydrogen business with a phased approach. The planned collaboration calls for joint efforts to develop hydrogen plant design and construction, hydrogen production, transportation and storage utilizing Hydrexia's magnesium-based solid-state technology in Japan. The immediate initial phase will be focused on a feasibility study of hydrogen supply to locally operated fuel cells.
The MOU with KGC in Japan market adds yet another new and important representation to Hydrexia's fast-growing business operation in global markets. Since the beginning of 2024, Hydrexia has successfully expanded its business operations to Malaysia, India, Australia, Brazil, and Thailand, having secured business contracts, strategic partnership, and joint venture.
"We are thrilled to have stepped our feet in this important global hydrogen market though our planned business collaboration with KGC. I strongly believe that Hydrexia can add significant technological values to our partner's needs for a supply chain of hydrogen applications," said Alex Fang, the chief executive officer of Hydrexia Holding Limited. "As a trusted partner, Hydrexia will do its utmost to ensure the successful buildout of this chain through all phases," Fang added.
"Our decision to partner with Hydrexia is primarily based on the company's hydrogen technology primacy along with its demonstrated project experience," said Mr. Norihide Kataoka, the president of KGC. "We look forward to working closely with Hydrexia in gradually materializing our planned hydrogen business development in the coming years," Kataoka continued.
As an across-industry value chain technology solution provider, Hydrexia is fully leveraging its across-industry value chain technologies and solutions for its global customers. The recognition and acceptance by an increasing number of global customers is a testament to the advantages and differentiations of Hydrexia's technologies and solutions in hydrogen purification, hydrogen transportation and storage, and hydrogen refueling stations.
[About KGC]
KGC is a wholly owned subsidiary of Kitahama Capital Partners Co., Ltd., listed on the Standard Market of The Tokyo Stock Exchange. KGC is a key player in Japan in the development and operation of green energy and data centers. It also engages in research, design, and development of power plants and battery energy storage.
[About Hydrexia]
Hydrexia Holding Limited is a leading global integrated hydrogen technology solution provider. 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.