MT Newswires — Japanese appliances maker Panasonic (TYO:6752) is in talks with Chinese engineering services firm CIMC Enric (HKG:3899) to co-develop hydrogen energy heat and power systems for the Chinese market.
CIMC Enric is a unit of China International Marine Containers or CIMC (SHE:000039, HKG:2039).
The two companies signed a memorandum of understanding on Friday during the fourth China International Import Expo in Shanghai, according to a release from Panasonic the same day.
The alliance will focus on Panasonic’s hydrogen cogeneration module and technology. The two companies will develop the technology for certain industrial and residential applications, contributing to China’s “dual-carbon” strategic goal.
Panasonic said the deal will promote China’s efforts to construct a hydrogen energy park pilot project that was part of the Ministry of Science and Technology’s targeted hydrogen energy projects laid out this year.