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The two businesses want to create a carbon-neutral and environmentally friendly business relationship by efficiently leveraging each company’s know-how and infrastructure to extend the hydrogen value chain and contribute to the vitalization of the hydrogen economy as a result of this agreement.

With a production capacity of 1,000 kg/day, this project is Tianjin’s largest hydrogen supply project, capable of meeting the hydrogen demand of six hydrogen refueling stations, and is critical to the growth of Tianjin’s hydrogen energy sector.

As a result, the two firms aim to work together to expedite the use of hydrogen as an energy source.

According to a report published on Tuesday, the bourse is also speeding up the listing of natural gas futures and options, citing the exchange’s chief executive, Wang Fenghai. The exchange, on the other hand, did not offer a debut date for the contracts.

Doosan Fuel Cell will build four 440 kilowatt hydrogen fuel cells in Nanhai District, Foshan City, in China’s southern Guangdong province, at a total cost of $13 million.

To stimulate demand, the Indian government wants to require the use of green hydrogen in applications such as oil refining and fertilizer manufacturing. Currently, India lacks a green hydrogen ecosystem.

According to the Ministry of Trade, Industry, and Energy, the funding will also be utilized to investigate ways to adapt hydrogen fuel cells used in Hyundai Motor Co.’s Nexo SUVs and use them in trams.

Indonesia, Vietnam, Australia, Malaysia, the Philippines, Mongolia, and Myanmar are among the licensed nations.

Through the provision of technical assistance, the two organizations have committed to share knowledge and collaborate to establish collaborative initiatives.

The most visible use will most likely be the 2022 Beijing Winter Olympics, when fuel cell cars will compete with passenger transportation in a bid similar to the Tokyo 2020 ambitions.