CIMC ENRIC (03899.HK) simultaneously signed a wind-solar coupled green methanol integration project and launched a new hydrogen-rich gas power module in Dongying, Shandong Province, on July 22. This dual move, which also included a market cooperation agreement with local enterprise Shandong Komei Power Technology Co., Ltd., signals the company's accelerated push into Shandong's green energy market.

The policy backdrop for these developments is the Ministry of Industry and Information Technology's "15th Five-Year Plan for Industrial Green and Low-Carbon Development," which explicitly encourages green energy-rich regions to orderly take on industries such as electrolytic aluminum, steel, petrochemicals, photovoltaics, and power batteries. The plan aims to extend the green energy industry chain, promote the large-scale application of green hydrogen, ammonia, and methanol, and enhance the local consumption capacity of green energy.

Four Parties Sign Wind-Solar Coupled Green Methanol Integration Project

On July 22, the wind-solar coupled green methanol integration project was officially signed in Dongying Economic and Technological Development Zone. Under the agreement, CIMC ENRIC will collaborate with the Dongying Economic and Technological Development Zone Management Committee, Datang Shandong Power Generation Co., Ltd., and State Grid Shandong Electric Power Company. Leveraging Dongying's high-quality wind and solar resources and park infrastructure, the partnership aims to advance the industrialization of green fuels like green hydrogen, green ammonia, and green methanol, fostering a green chemical and hydrogen-based energy industry to help Dongying build a new energy economy demonstration zone.

In this collaboration, each party will leverage its strengths for resource synergy. CIMC ENRIC will utilize its technical expertise in clean energy equipment, core processes, and comprehensive services to design and manufacture key equipment, including biomass gasifiers and methanol synthesis reactors. It will also provide full-process services from process package design to engineering, procurement, and construction. Additionally, leveraging its technological advantages across the entire hydrogen value chain鈥攑roduction, storage, transportation, refueling, and utilization鈥擟IMC ENRIC will assist in promoting the operation and international certification of green fuels, thereby connecting the entire chain from production to trade. Datang Shandong Power Generation Co., Ltd. will leverage its experience in new energy development to provide stable green electricity for the project. State Grid Shandong Electric Power Company will utilize its grid infrastructure to ensure the integration and distribution of green electricity.

Project plans indicate that all parties will jointly promote the full-chain development of green methanol in Dongying, from production and certification to bunkering and application. The collaboration will also explore the high-value utilization of biomass and supply chain construction, further extending the localization of equipment related to the hydrogen energy industry chain. CIMC ENRIC stated that this cooperation is a key step in continuously deepening its full-chain layout in the hydrogen-based energy industry. The project aims to create an industrial demonstration project integrating biomass feedstock, green electricity, green hydrogen, ammonia, methanol, shipping bunkering, and green fuel trading.

Partnering with Komei Power to Enter the Industrial Hydrogen-Rich Off-Gas Power Generation Sector

On the same day, CIMC ENRIC Energy Systems (Shanghai) Co., Ltd., a subsidiary of CIMC ENRIC, and Shandong Komei Power Technology Co., Ltd. (hereafter "Komei Power") held a launch event for the new "CIMC-16V-HEG" hydrogen-rich gas power module in Dongying. They also signed a "Market Cooperation Agreement for Hydrogen-Rich Gas Generator Sets."

The newly launched "CIMC-16V-HEG" power module was jointly developed by the "Hydrogen-Rich Power System Joint Research Center" established by both parties. Targeting the market for industrial hydrogen-rich off-gas power generation, this generator set is specifically designed for hydrogen-rich off-gas power generation scenarios. The product can be widely applied in scenarios involving industrial by-product hydrogen-rich off-gas, natural gas blended with hydrogen, pure hydrogen, biomass hydrogen-rich gas, and coke oven gas. This power module overcomes the challenges faced by hydrogen-rich off-gas power generation scenarios in industries such as carbon-based materials, coal, steel, and coking. Going forward, the two parties will further deepen their cooperation to accelerate the market promotion of the product.

Komei Power, established in July 2020 with a registered capital of 10 million yuan and legal representative Zhao Liang, is headquartered in Dongying. It is a wholly-owned subsidiary of Xi'an Komei Power Technology Co., Ltd. As a leading equipment enterprise in China's distributed gas power generation and industrial hydrogen-rich off-gas utilization sector, a national high-tech enterprise, and a Shandong provincial "specialized and new" enterprise, Komei Power possesses full-chain capabilities in gas internal combustion engines, from core electronic control components to complete machine integration and power station operation. It is the first Chinese brand to enter the European industrial off-gas power generation market.

Shandong's Distinctive Path

From the perspective of green hydrogen, ammonia, and methanol industrial layout, regions with abundant wind and solar resources, such as Inner Mongolia, Jilin, Xinjiang, Gansu, Ningxia, Hebei, Liaoning, and Heilongjiang, are the main players. However, unlike the "Three Norths" (Northeast, North, and Northwest China) land-based route of million-ton-scale wind-solar bases, Shandong has a natural advantage due to its proximity to the Japan-South Korea shipping artery and the Beijing-Tianjin-Hebei-Shandong-Henan industrial load center. This geographical advantage makes green methanol and green ammonia exports and port bunkering ideal scenarios. Therefore, Shandong is pursuing a differentiated path of "Bohai Rim beach wind-solar power + port shipping bunkering + chemical cluster consumption."

To date, Shandong has several hydrogen, ammonia, and methanol projects in operation, with a regional cluster effect gradually forming. For example, China's first marine hydrogen-ammonia-methanol integration project鈥攖he Yantai marine hydrogen-ammonia-methanol integration demonstration device鈥攑roduced its first batch of green methanol in October last year. The country's first port-based green hydrogen "production, transmission, storage, refueling, and utilization" integrated demonstration project鈥攖he Weifang Port Green Hydrogen Station鈥攚as put into operation in July last year. The Weifang Changyi Three Gorges wind-solar-storage-hydrogen-ammonia-methanol integration demonstration project, with a total investment of 10.3 billion yuan, is still underway.

In March of this year, the Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission issued a notice on carrying out pilot work for comprehensive hydrogen energy application. The notice clarified that the central government would provide reward fund support to hydrogen energy comprehensive application pilot city clusters through a "reward-instead-of-subsidy" approach.

CIMC ENRIC is a subsidiary of China International Marine Containers (Group) Co., Ltd. (CIMC). It operates in the energy, chemical, and food equipment industries, providing customers with key equipment, engineering services, and system solutions for transportation, storage, and processing. Its clean energy segment has formed a comprehensive "land + water" clean energy layout centered on natural gas. Its chemical and environmental segment has developed a business direction of "manufacturing + service + intelligence." Its liquid food segment provides key equipment covering the entire process of alcohol production, including raw material processing, mashing systems, fermentation systems, wine storage, and post-treatment systems, offering turnkey services. From 2023 to 2025, the company's clean energy business has driven continuous growth in total revenue, with a substantial order backlog in the clean energy segment.

For CIMC ENRIC, the signing of the Dongying projects means that its green fuel production capacity map has filled a critical link in the Bohai Rim region. As of the close on July 31, CIMC ENRIC shares were trading at 7.78 Hong Kong dollars, giving the company a total market capitalization of approximately 16.4 billion Hong Kong dollars.