CHINA-Richem and Nedstack cooperate on the industrialization of large-scale PEM power plant technology;
Parties anticipate a strong increase in demand for large-scale fuel cell deployment and pursue compliance, cost-reduction, and wide deployment.

The hydrogen economy is in a process of rapid industrialization where technologies are scaling up to maturity, where production capacity is expanding, and where meeting market cost-targets is critical to scale up. CHINA-Richem and Nedstack have signed a strategic MoU on setting up a Partnership on the industrialization and commercialization of PEM Fuel Cell Power Plant technology. This partnership promises to bring PEM power plant technology to mass production and deployment at economic cost-levels. Mr. Deng Zhaojing (CEO – CHINA-Richem) said, “As an innovation and technology driver of CNCEC, a world-leading EPC company, CHINA-Richem is committed to achieving a Net-Zero Society. We are proud of having Nedstack, a world-class PEM fuel cell technology provider, as a partner, and are confident that not only both companies but also the whole society will benefit from this hand in hand cooperation. Partnership Opportunity CHINA-Richem is part of China National Chemical Engineering Co. Ltd; a global EPC leader with a strong footprint in – amongst others - the power plant business, chlor-alkali industry, and the petrochemical eco-system. All these industries are under pressure to improve their environmental performance. Furthermore, these industries provide for a supply chain that has the power to deliver technologies at scale and within tight budgets. By extension, the CHINA-Richem entry to the hydrogen economy brings about access to huge growth markets, decades of experience, and mature supply chains that allow for scaling up the production of mega-sized PEM power plants. Nedstack, since 1999, is a Netherlands based maker of PEM fuel-cells and fuel cell power systems with a strong commitment to the mission-critical high-power domain. Nedstack has delivered – amongst others – the world’s longest-running PEM power plant, the world’s first PEM power plant above the megawatt power size, and the world’s largest PEM power plant in the field today. The combined strength of CHINA-Richem and Nedstack promises to offer high power PEM fuel cell power systems meeting all the standards expected by the demanding clients for industrial applications. It offers a scale-up in availability, serviceability, and strong cost reductions for large-scale PEM fuel cell power systems and enables higher penetration of hydrogen-based power in our energy systems. Technology Portfolio CHINA-Richem and Nedstack will work together on industrializing the Nedstack PemGen® stationary fuel cell power system portfolio. To begin with, the partnership will focus on the Chinese domestic market, but both parties keep an open view towards expanding successful cooperation to maximize their combined impact. The PemGen® portfolio of PEM Power Plants relies on industrial components to deliver fuel cell systems that can last as long as any conventional power plant – although stacks need refurbishments after some 30.000 hours – and to offer the best possible price per kilowatt-hour. Mr. Arnoud van de Bree (CEO – Nedstack) said, "The only way we can solve our global environmental challenges is to develop global solutions and we are very pleased in having CHINA-Richem now as a partner in pursuing this goal. The partnership between Nedstack and CHINA-Richem brings together world-class PEM fuel cell technology with world-class EPC-expertise." The hydrogen economy is expected to scale to serve 13% of the global total energy demand by 2050, creating a 4,000 bn USD market in the process for hydrogen and related applications. This opportunity requires a combined effort of current technology leaders in the fuel cell space with established power plant makers and industrial engineering companies. In the coming months, CHINA-Richem and Nedstack will be developing detailed cooperation models, supply-chains, technology solutions, and go-to-market strategies towards the Chinese market. Both parties anticipate engaging in several megawatts of fuel cell power plant deliveries in 2021 and scale-up in the following years while improving technology, service concepts, and operational regimes in parallel. About CHINA-Richem China Chemical Technology Research Institute (hereinafter referred to as CHINA-RICHEM) is a wholly-owned subsidiary of CNCEC and is the research and innovation center of CNCEC. It focuses on the cutting-edge technologies in the fields of advanced materials, environmental protection, hydrogen (generation, storage, fuel cell), and petrochemical. China National Chemical Engineering Cooperation (CNCEC) is a leading EPC-contractor, investor, and asset manager of chemical projects. www.cncec.com.cn About Nedstack Nedstack is a Dutch manufacturer of PEM Fuel cell power solutions for heavy-duty and long-life applications. Nedstack was founded in 1999 as a spin-out from AkzoNobel and is incorporated in Arnhem, the Netherlands. www.nedstack.com

CHINA-Richem and Nedstack Sign MoU on PEM Fuel Cell Power Plant Technology Partnership