Brief: Plastic Omnium Sets Up JV For Hydrogen With Shenergy Group

Opmobility SE

11/01/2023 06:35

Jan 11 (Reuters) - COMPAGNIE PLASTIC OMNIUM SE
 PLOF.PA :
    * PLASTIC OMNIUM SETS UP A JOINT VENTURE WITH SHENERGY GROUP
TO
ACCELERATE HYDROGEN DEVELOPMENT IN CHINA
    * PLASTIC OMNIUM AND SHENERGY GROUP ALSO SIGNED A MEMORANDUM
OF
UNDERSTANDING TO EXTEND STRATEGIC COOPERATION AROUND BUILDING
HYDROGEN ECO-SYSTEMS
    * A PILOT PRODUCTION LINE FOR TYPE IV HIGH-PRESSURE HYDROGEN
VESSELS WILL BE IN PLACE DURING 2025
    * A NEW MEGA-PLANT WITH AN ANNUAL PRODUCTION CAPACITY OF UP
TO
60,000 HIGH-PRESSURE HYDROGEN VESSELS IS SCHEDULED TO BE
OPERATIONAL FROM 2026 ONWARDS
    * PLANS TO INVEST AN AVERAGE OF €100 MILLION ANNUALLY TO
ACHIEVE
REVENUE GENERATION OF €300 MILLION BY 2025, RISING TO €3 BILLION
BY 2030

Source text: https://bit.ly/3IJykfM
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