Hans Group (HKG:0554) and its subsidiary Citybus have entered into a cooperation agreement with Grand Resource Hydrogen Energy Science & Technology to jointly promote the supply and transportation of hydrogen energy to Hong Kong, according to a Thursday filing with the Hong Kong bourse.
The agreement has a five-year term, with an option for extension upon mutual consent.
Under the agreement, the partner will supply at least five tons of hydrogen daily to the company and Citybus, at a maximum price equivalent to the guaranteed price for domestic users.
In return, Hans Group and Citybus will assist in promoting the partner's liquid hydrogen project at the Lisha Island Fine Chemical Industrial Park in Dongguan, China, and support the broader application of liquid hydrogen within the country.
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