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SinoHytec Successfully Listed on the Main Board of HKEX

indie
3 minutes

HONG KONG, Jan 12, 2023 - (ACN Newswire via SEAPRWire.com) - The leading provider of fuel cell systems in China - Beijing SinoHytec Co., Ltd. ("SinoHytec" or the "Company", Stock Code: 2402), has successfully listed and commenced dealings on the Main Board of the Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange" or "HKEX") today, under the stock code of 2402 and the Offer Price is HK$60 per Share in board lots of 50 shares each.SinoHytec is listed on the main board of HKEX, with 17,628,000 shares being offered globally, Among them, the International Offering was moderately over-subscribed, representing approximately 1.84 times the total number of 15,865,200 Offer Shares initially available under the International Offering.The Hong Kong Public Offering was slightly over-subscribed, representing approximately 0.29 times the total number of 1,762,800 Offer Shares initially available for subscription under the Hong Kong Public Offering.The net proceeds from the Global Offering to be received by the Company is estimated to be approximately HK$982.8million, after deduction of the underwriting commissions, fees and other estimated expenses payable in connection with the Glob...

ACN Newswire
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SinoHytec Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange, Offer Price Between HK$60 and HK$76 per H Share, Raise up to HK$1,540.7 million

indie
7 minutes

HONG KONG, Dec 29, 2022 - (ACN Newswire via SEAPRWire.com) - The leading provider of fuel cell systems in China - Beijing SinoHytec Co., Ltd. ("SinoHytec" or the "Company", Stock Code: 2402), today announced the proposed listing of its shares on the Main Board of the Stock Exchange of Hong Kong Limited ( the "Hong Kong Stock Exchange"). SinoHytec plans to offer an aggregate of 17,628,000 H shares under the Global Offering (subject to the Over-allotment Option), comprising an International Offering of 15,865,200 H shares (subject to Reallocation and the Over-allotment Option), representing 90% of the initial offer shares; and Hong Kong Public Offering of 1,762,800 H shares (subject to Reallocation), representing 10% of the initial offer shares), at a price range between HK$60 and HK$76 per Offer Share. The Hong Kong Public Offering will commence at 9 a.m., December 29, 2022 (Thursday), and close at 12:00 noon on January 5, 2023 (Thursday). Dealings in the shares of SinoHytec on the Main Board of the Hong Kong Stock Exchange is expected to commence on January 12, 2023 (Thursday), with the stock code 2402 and in board lots of 50 Offer Shares each.Guotai Junan Capital Limited and Giraf...

ACN Newswire
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Pertamina saves US$402.46 million amid rising global oil prices

indie
4 minutes

JAKARTA, Sep 3, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned oil and gas company PT Pertamina succeeded in saving operational costs of around Rp6 trillion (US$402.46 million) until July 2022 through several efficiency programs amid rising world oil prices that increased fuel production costs.PT Pertamina head office building (ANTARA/HO-PT Pertamina)She explained that energy companies around the world are facing difficult situations as a result of disruption of the global energy supply chain due to the Russia-Ukraine conflict. The global trade mobility leading to post-pandemic recovery was jolted by limited supply that led to an energy crisis.The president director noted that the Indonesian government's policy of maintaining the people's purchasing power through fuel subsidies was the proper measure to accelerate economic recovery.According to Widyawati, the accuracy of the policy is reflected in the fuel consumption increase for community mobility and business activities.Pertamina President Director Nicke Widyawati stated that such a success could not be separated from strategic cost-saving measures taken by the company group since the start of this year.She explained that...

JCN Newswire
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Mitsubishi Power Signs Decarbonization Agreement for Hydrogen Fuel Conversion with Leading Egyptian O&G Refinery ANRPC

ruth
4 minutes

Alexandria, Egypt /Duisburg, Germany, Jun 16, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Power, a power brand of Mitsubishi Heavy Industries Ltd. (MHI) signed a full turnkey contract with leading Egyptian O&G Company Alexandria National Refining & Petrochemicals Company (ANRPC) to provide advanced hydrogen fuel conversion technology solutions, supporting the company to achieve its decarbonization goals. The solution will be installed at the ARNPC refinery plant in Alexandria, which provides 30% of Egypt's gasoline supply for domestic consumption.Under the terms of the contract, Mitsubishi Power will be responsible for the design, engineering, procurement, construction, and commissioning of fuel conversion solutions for the existing 100 ton/hour boiler, enabling it to fire up to 100% hydrogen by the end of 2023. This includes the installation of state-of-the-art hydrogen burner technology and advanced control solution to ensure efficient and safe operations.Commenting on the agreement, Salah Gaber, Chairman & CEO of ANRPC, said: "We are thrilled to partner with world technology leader Mitsubishi Power on innovative fuel conversion solutions that will help us to...

JCN Newswire
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Mitsubishi Shipbuilding Completes Conceptual Design of VLGC Enabling Conversion of Main Fuel from LPG to Ammonia

ruth
3 minutes

TOKYO, Jun 10, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has completed the conceptual design of a Very Large Gas Carrier (VLGC) initially powered by liquefied petroleum gas (LPG) but adaptable to future use of ammonia as the main fuel(1). Approval in Principle (AIP)(2) for the design has been acquired from the Japanese classification society ClassNK.Image of an LPG-powered VLGC convertible to ammonia fuelThe conceptual design of an LPG-powered VLGC enabling future conversion to ammonia fuel was developed based on Mitsubishi Shipbuilding's experience and expertise in the construction and delivery of more than 80 very large LPG carriers and multi-purpose gas carriers capable of carrying ammonia. Creation of a design enabling conversion to ammonia fuel in line with future needs is expected to permit relatively small-scale ship retrofitting when use of ammonia fuel becomes a viable option.Ammonia is expected to come into wide use in the future as a stable and clean source of energy. Because it emits no CO2 when combusted, ammonia is garnering attention as a fuel that will contribute significantly to r...

JCN Newswire
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Honda to Install Stationary Fuel Cell Power Station on California Campus as First Step Toward Commercialization of Zero-Emission Backup Power Generation

ruth
5 minutes

Torrance, Calif., Mar 15, 2022 - (JCN Newswire via SEAPRWire.com) - Honda today announced plans to install a stationary fuel cell power station on its corporate campus in Torrance, Calif. by early 2023. The station will serve as a proof of concept for the future commercialization of a power generation unit for use as a zero-emission backup power source for facilities such as data centers, which require reliable and clean auxiliary power generation to continue operations even in emergency situations. This new initiative will leverage Honda's fuel cell technology expertise as part of the company's global goal to achieve carbon neutrality for all products and corporate activities by 2050. Honda's proof of concept fuel cell power station will utilize fuel cell components from Honda Clarity Fuel Cell vehicles in a flexible, four-quad parallel stationary fuel cell power generation system capable of generating up to 1152kW-DC/1MW-AC from an inverter. A unique advantage of the four-quad design is the flexibility to change the layout of the four individual fuel cell units to suit the installation environment, accommodating a cuboid, L-shape, Z shape or other packaging requirements. The stat...

JCN Newswire
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DENSO and Aisan Reach Agreement on Transfer of Fuel Pump Module Business

ruth
3 minutes

KARIYA, JAPAN, Jan 17, 2022 - (JCN Newswire via SEAPRWire.com) - Leading mobility supplier DENSO, and powertrain supplier Aisan today announced their respective Board of Directors have agreed upon and signed an agreement to transfer DENSO's fuel pump module* business to Aisan. In addition, the Board agreed to allow Aisan to acquire DENSO's equity stake in KYOSAN DENSO MANUFACTURING KENTUCKY, LLC (KDMK), located in Mt. Sterling, KY. The transfer is estimated to be on August 1, 2022. The two companies previously announced that they reached a basic agreement on May 20, 2019, to begin studying the possibility of strengthening their competitiveness in powertrain and future growth areas. As a result of the study, the companies agreed that DENSO will transfer its entire business of developing, producing, and selling fuel pump modules to Aisan, and Aisan will acquire DENSO's equity stake in KDMK. Additionally, the companies determined that DENSO will not increase its ownership stake in Aisan.Mutually Beneficial Agreement:The mutually beneficial agreement will allow DENSO to focus on its Two Great Causes: Green and Peace of Mind, under which it will work to achieve carbon neutrality, zero t...

ACN Newswire
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Technological Revolution and Industrial Transformation, Weichai Power Releases the World’s First Diesel Engine with a Base Engine Thermal Efficiency of 51.09%, along with Major Hydrogen Energy Technology Achievements

indie
6 minutes

HONG KONG, Jan 13, 2022 - (ACN Newswire via SEAPRWire.com) - At 9:00 am on January 8, 2022, Weichai Power (Stock codes: 2338.HK; 000338.SZ) released the world's first diesel engine with a base engine thermal efficiency of 51.09% and major achievements in hydrogen technology achievements.Tan Xuguang, CPC Secretary and Chairman of Shandong Heavy Industry Group, Chairman of Weichai Power and Director of the Academic Committee of the National Fuel Cell Technology Innovation Center, reported the research findings of the world's first diesel engine with a base engine thermal efficiency of 51.09% developed by Weichai Power, the operation of the National Fuel Cell Technology Innovation Center and the "Hydrogen for Every Home" technology demonstration project. TuV SuD, an world-renowned test authority, issued a certificate of thermal efficiency of 51.09% to Weichai Power. Then the delivery ceremony of hydrogen-powered heavy-duty truck delivery for demonstrative operation between Shandong Heavy Industry and Shandong Port was held.FISITA, MIT, AVL, FEV, SwRI, Bosch Group and Vitesco Technology, as well as the China Mechanical Engineering Society, the China Automotive Engineering Society, the ...

SeaPRwire

Fuel prices push Tokyo inflation to fastest pace in 16 months

elean
1 minute

TOKYO (BLOOMBERG) - Higher fuel prices drove up Tokyo's cost of living at the fastest pace in 16 months, although the increases were still tiny compared to those confronting consumers in other economies where central banks are pulling back pandemic-era stimulus. Prices in the capital, excluding those for fresh food, increased 0.3 per cent this month from a year earlier, the Ministry of Internal Affairs reported on Friday (Nov 26). The result matched the median estimate from economists. Japanese inflation, long a global laggard, is slowly but steadily picking up after climbing above zero at the end of summer amid spiking global commodity prices that have boosted costs for local businesses to a 40-year high. The latest inflation data comes after Prime Minister Fumio Kishida on Wednesday announced the release of national oil reserves in concert with the United States and other nations to cool surging crude prices. Japan's petrol prices at the pump have risen to a seven-year high.

JCN Newswire
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Mazda to Participate in Motor Sports Race Powered by Next-Generation Biodiesel Fuel

ruth
4 minutes

TOKYO, Nov 15, 2021 - (JCN Newswire via SEAPRWire.com) - In efforts to realize carbon neutrality, Mazda Motor Corporation aims to popularize the use of next-generation biodiesel fuels and participated in the Super Taikyu Race in Okayama held at the Okayama International Circuit on Saturday, Nov. 13 and Sunday Nov. 14, where Mazda entered a racecar with a conventional diesel engine (Skyactiv-D 1.5) that runs on 100% bio-based fuel made from used cooking oil and microalgae fats. From next year, Mazda will step up its efforts and participate in all rounds of the endurance race throughout the season.Mazda Spirit Racing Bio concept DemioTo achieve carbon neutrality, Mazda believes it is important to offer customers a variety of options. With this in mind, Mazda intends to expand its powertrain lineup by investing not only in conventional hybrids, diesel engine models, and EV models but also plug-in hybrid models while promoting initiatives in renewable fuels such as next-generation biodiesel fuels.Next-generation biodiesel fuels, which are made from sustainable raw materials such as microalgae fats and used cooking oil, do not compete with the human food supply, which has been an issue ...

SeaPRwire

Trial to use cleaner aviation fuel in Singapore to begin in 2022

aseanpr
4 minutes

SINGAPORE - The aviation industry in Singapore is piloting the use of cleaner fuels in planes next year. The trial to use lower-carbon fuels will be run by the Civil Aviation Authority of Singapore (CAAS), Singapore Airlines (SIA) and Singapore's investment company Temasek. CAAS said in a statement on Saturday (Nov 13) that the pilot programme will run for a year, and producers and suppliers of sustainable aviation fuel have been invited to present their plans on delivering cleaner fuels. The trial is based on a study done earlier this year by the Government and the aviation industry on the commercial viability and use of sustainable aviation fuels in Changi Airport. CAAS director-general Han Kok Juan said the programme would involve the local production, certification and delivery of neat fuels - fuels that are unmixed or undiluted - to Changi Airport. "Sustainability will be a key priority of the aviation sector as it recovers from the Covid-19 pandemic and sustainable aviation fuel will be a critical enabler in the sector's decarbonisation efforts," he said. Ms Lee Wen Fen, senior vice-president of corporate planning at SIA, said the programme would support the SIA Group's commi...

SeaPRwire

Asia grabbing more European fuel oil to ease energy crisis

elean
2 minutes

LONDON (BLOOMBERG) - Asia is taking more fuel oil from Europe to help deal with the energy crisis, according to a company that manages hundreds of ocean-going tankers. There has been a notable increase in shipments from Europe and the wider Atlantic Basin to the East in roughly the past 25 days, according to Maersk Tankers head of freight trading Per Heilmann. "We see an open price arbitrage from Rotterdam and Singapore on fuel oil markets," he said, referring to situations where differences in prices make it profitable to move cargoes from one region to another. The shortage of gas and coal means there is extra demand for residual fuel oil - a low-value, low-quality oil product - from the power sector. While that extra demand exists in many regions, it is strongest in Asia, according to the International Energy Agency. Supertankers, which typically hold about two million barrels of crude, as well as Suezmaxes and Aframaxes - capable of carrying roughly a half and a third as much cargo, respectively - are being deployed for the trade, Mr Heilmann said. Maersk Tankers manages more than 220 product tankers. More on this topic Related Story Oil holds above US$80 with global power shor...

SeaPRwire

In a world fighting climate change, fossil fuels take revenge

elean
7 minutes

LONDON (BLOOMBERG) - With its chimneys towering 200m above the industrial heartland of England, West Burton A power station is a relic of the fossil fuel age. When fired up, its boilers burn thousands of tonnes of coal each day, spewing out the carbon dioxide that is warming up the planet. After more than 50 years of operation, it will close next year, part of a global transition into green energy sources like wind and solar. It is only rarely used, but for several days last month, it was this old, polluting facility that kept the lights on in Britain. West Burton is not an oddity. Across the world, fossil fuels are making a remarkable comeback as a super-charged recovery from the pandemic boosts demand. For all the green energy promises and plans, that transition is in its infancy, and the world still leans heavily on fossils. It is an addiction built up over two and a half centuries, and it runs deep. In Europe, where electric vehicles are becoming ever more popular, gasoline sales are booming, reaching a 10-year high in some countries. In the developing world, from Brazil to China, natural gas consumption is stronger than ever. The global hunger for energy has collided with cons...

SeaPRwire

S’pore households should save electricity as costs increase due to fuel prices: Gan Kim Yong

aseanpr
4 minutes

SINGAPORE - Households in Singapore are advised to conserve electricity as costs are set to rise following the doubling of fuel prices, said Minister for Trade and Industry Gan Kim Yong on Tuesday (Oct 5). In a written parliamentary response that day, Mr Gan said fuel prices have more than doubled over the past 1½ years, impacting countries worldwide including China, Japan, Britain and countries in the European Union. Price movements in the global energy market will affect Singapore, which imports nearly 100 per cent of its energy needs, said Mr Gan. The minister was responding to questions by Mr Murali Pillai (Bukit Batok) on the rising price of natural gas, which is expected to cause a steep spike in electricity prices in Singapore in the next quarter, and efforts to cushion the impact. Mr Pillai also asked how the Government plans to protect Singaporean households affected by the economic fallout of the Covid-19 pandemic while also encouraging them to be more energy efficient. National grid operator SP Group announced on Sept 30 that the electricity tariff for households will increase by 3.1 per cent from October to December. This is the highest it has been priced since the Janu...

JCN Newswire
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MC Reaches Agreement with Denbury on CO2 Transport and Storage Operations for Fuel Ammonia Production

ruth
2 minutes

TOKYO, Sep 22, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Corporation ("MC") is pleased to announce that it has reached an agreement with the Texas-based independent energy company Denbury Inc ("Denbury") on the key term-sheet of CO2 transport and storage operations, via Denbury's wholly owned subsidiary Denbury Carbon Solutions LLC ("DCS"). The business is in line with MC's aim to commence production of fuel-use ammonia ("fuel ammonia") in the US Gulf of Mexico ("GoM"). MC aims to produce one million tons of fuel ammonia annually in the US GoM and export to the Japanese market towards the late 2020s. The estimated CO2 volume to be captured from the ammonia facility is maximum 1.8 million metric tons per annum. Under the terms of our agreement with Denbury, the captured CO2 will be either sequestered underground via Denbury's EOR(1) or CCS(2) which Denbury plans to develop in the future. The term sheet contemplates an initial period of 20 years, with the ability to extend further. In the US GoM, Denbury owns unique capabilities and assets such as CO2 Green Pipeline system that ranks among the world's largest. The company has been active in the region for more than two dec...

SeaPRwire
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Shanghai Announced: 100 Hydrogen Fueling Stations Will Be Established and the Industry Scale Will Be 100 Billion Yuan

pandora
8 minutes

Shanghai, China / TickerInsider / August 27, 2021 / – In the evening of August 26, Shanghai Economic and Information Commission officially announced that the Shanghai government plans to build close to 100 hydrogen fuel refueling stations, forming an output scale of nearly 100 billion yuan and promoting close to 10,000 fuel cell vehicles. Meijin Energy (000723.SZ) is expected to benefit from this. Shanghai is the second fuel cell vehicle demonstration city cluster approved by China after Beijing. In China, various policies further guide the new energy industry chain to spread out, and in addition the market expects that the Guangdong Fuel Cell Vehicle Demonstration City Cluster project will be approved soon. Meijin Energy (000723.SZ) Meijin Energy (000723.SZ) Obviously, 2021 has become an important year for fuel cell development in China. According to the “White Paper on China’s Hydrogen Energy and Fuel Cell Industry”, it is expected that by 2025, the output value of China’s hydrogen energy industry will reach 1 trillion yuan; by 2050, the demand for hydrogen will be close to 60 million tons, hydrogen energy will account for more than 10% of China’s terminal energy system, and the ...

ACN Newswire
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FTXT’s 100 Hydrogen Heavy Trucks Demonstration Project for Xiong’an New Area

indie
3 minutes

BAODING, China, Aug 23, 2021 - (ACN Newswire via SEAPRWire.com) - FTXT Energy Technology, a Great Wall Motor (GWM) subsidiary, along with partners Dayun, Dongfeng and Foton, have successfully delivered a fleet of 100 hydrogen heavy trucks for the Xiong'an New Area construction project in Hebei Province, China. The 49-tonne fleet was unveiled at the Great Wall Technology Center, with the handing over ceremony on August 14 at Service Station #1 on the Rongyi Road in Baoding City, near Xiong'an.The handing-over ceremony on August 14 at FC Service Station #1 on the Rongyi Road in Baoding City, near Xiong'an.The heavy trucks are fitted with high-power 111kW hydrogen fuel cell engines, hydrogen stacks and hydrogen storage all by FTXT.FTXT's FC engine, stack and storage broke many technical barriers, with an overall performance index and safety performance grades at an advanced international level.Rongyi Road is the main artery for transporting construction materials to Xiong'an New Area. In the next five years, fuel cell trucks on the road will increase to more than 1,000. The trucks will be refueled at 10 Service Stations along the 50km road. The project aims to establish the basis for ...

SeaPRwire

Trafigura’s green fuel push helps Singapore’s sustainability efforts

elean
1 minute

SINGAPORE - Singapore-based Trafigura Group - one of the world's top commodity traders - is speeding up its push into clean fuels and renewable energy. Trafigura signed an agreement with Norway's fertiliser firm Yara in June to develop the use of ammonia as a carbon-free shipping fuel. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

SeaPRwire

Exxon, Chevron look to make renewable fuels without costly refinery upgrades: Sources

elean
4 minutes

NEW YORK (REUTERS) - US oil major Exxon Mobil Corp, along with Chevron Corp, is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said. The two largest US oil companies want to produce sustainable fuels without ponying up billions of dollars that some refineries are spending to reconfigure operations to make such products. Renewable fuels account for 5 per cent of US fuel consumption, but are poised to grow as various sectors adapt to cut overall carbon emissions to combat global climate change. Both Chevron and Exxon have massive refining divisions that contribute heavily to their overall carbon emissions. The companies have been criticized for a less urgent approach to renewable investments than European rivals Royal Dutch Shell and TotalEnergies, and have generally spent a lower percentage of their capital than those companies on "green" technologies. The companies are looking into how to process bio-based feedstocks like vegetable oils and partially processed biofuels with petroleum distillates to make renewable diesel, sustainable aviation fuel (SAF) and renewable gasoline,...