China Petroleum & Chemical or Sinopec (SHA:600028, HKG:0386) set up a 5 billion yuan hydrogen energy-focused venture capital fund, Reuters reported Thursday.

The fund is seen to target early-stage investments, as well as the incubation of key materials and equipment, and proprietary technologies with high growth potential, the report said.

Sinopec Private Equity Fund Management manages the fund, Reuters said.

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