Sinopec Capital and Johnson Matthey China have entered into an agreement that signals the start of active dialogues to explore joint possibilities across green and blue hydrogen, fuel cells, decarbonisation technologies and circular economy business in China.
Sinopec is the largest oil and petrochemical products supplier and the second largest oil and gas producer in China. It is also the largest refining company and the second largest chemical company in the world. Sinopec Capital is a fully owned subsidiary of Sinopec Group launched in 2018 with RMB10 billion initial paid-in registered capital. The company makes strategic equity investment activities on new energy, new material, energy conservation and environmental protection, advanced manufacturing, big data and artificial intelligence to support Sinopec Group transforming from a traditional energy provider to a leading clean energy company in the world.
Johnson Matthey’s technologies have a global impact in areas such as low emission transport, energy and chemical processing. It has technologies that support the development and production of green and blue hydrogen and fuel cells. Its China business started in 1993, growing to a top 50 company in Shanghai. It has six manufacturing facilities delivering over 120 million auto catalysts over the last two decades. It is a membrane electrode assembly (MEA) producer in China, and produced the MEAs for hydrogen fuel cell shuttle buses showcased in the Beijing Winter Olympic 2022.
Zhou Meiyun, Deputy Chairman and General Manager of Sinopec Capital, said: “Sinopec has made its long term development strategic goal and dedicated to become a No.1 hydrogen company in China and a leading clean energy company in the world. Sinopec is committed to develop and use various carbon reduction technologies including energy conservation and reduction, green energy replacement, and CCUS technologies and makes full efforts to reach the carbon neutralisation target before 2060. We wish to have a deep collaboration with Johnson Matthey in carbon reduction and green energy fields to fully support achieving China’s national strategic goal of 30/60 carbon peak/carbon neutralisation.”
Dr Mark Su, Johnson Matthey’s China President, said: “Johnson Matthey has a long heritage in China. We are China’s leading auto catalyst producer, one of the largest platinum group metals refiners, a leading player across syngas and hydrogen fuel cells, and the first commercial scale MEA producer in China. Some of the world’s biggest companies already rely on our technologies, and we are very excited to explore how we can work with Sinopec to expand our businesses whilst creating and scaling the low carbon solutions that help China achieve the carbon neutrality by 2060.”