Tsing Hydrogen Technology Completes Multi-Million-CNY First-Round Financing

Technology Author: Yuehan Li Editor: Yiru Qian Sep 20, 2023 02:14 PM (GMT+8)

The green hydrogen industry is a pivotal pathway towards achieving carbon neutrality.

Hydrogen energy

Tsing Hydrogen (Beijing) Technology Co., Ltd. has secured tens of millions of CNY in seed round financing from TusStar Venture Capital, with Sixsigma Capital as the long-term exclusive financial advisor. The proceeds will be allocated towards technology and market development, as well as company operations.

Founded in 2020, Tsing Hydrogen Technology is a scientific and technological innovation firm that uses Tsinghua University's hydrogen energy electrocatalysis technology to conduct experimental scaling and development, offering complete solutions and products consisting of electrocatalysis materials, technologies, and equipment for the industrialization of hydrogen energy. The company is dedicated to researching and commercializing electrocatalytic core materials and cutting-edge membrane electrode products.

In the backdrop of global carbon neutrality and the ongoing energy transition, the demand for hydrogen energy, particularly the eco-friendly hydrogen, is becoming more defined.

According to the International Energy Agency (IEA) forecasts, the global hydrogen production will hit 180 million tons by 2030. Of this, hydrogen production from electrolytic water is expected to experience substantial growth, increasing from less than 40,000 tons in 2021 to a staggering 61.7 million tons in the future. This highlights the immense growth potential of clean energy-based hydrogen production in the future.

As a trailblazing provider of next-generation hydrogen electrocatalytic materials, essential technologies, and cutting-edge equipment, Tsing Hydrogen Technology is steadfastly advancing its position in the hydrogen energy sector. Leveraging the expertise of Tsinghua University Nuclear Research Institute Fuel Cell Laboratory, the company has achieved pivotal breakthroughs in the mass production processes of core catalysts and has successfully unveiled a new generation of high-performance membrane electrodes. These innovations find application primarily in the fields of water electrolysis for hydrogen production and fuel cells. Notably, the company's platinum-based catalyst products have achieved a commendable milestone by ensuring stable mass production and witnessing substantial batch sales.

Precious metal catalysts serve as the linchpin of the green hydrogen industry, dictating the application cost and commercialization progress of hydrogen energy. However, China has grappled with a prolonged dependence on foreign manufacturers for precious metal catalysts, with import reliance soaring to a staggering 90%. This overreliance has been characterized by high prices and an inability to secure a steady batch supply. The hydrogen energy industry is now faced with two key challenges: ensuring controllable performance and reducing production costs.

In the realm of cost management, Tsing Hydrogen Technology has harnessed its own mass production process route, combined with a high degree of automation control. This ingenious approach has streamlined operations to the point where merely two individuals are required to manage an entire reaction system. This not only minimizes human intervention but also aggressively pursues optimal cost-efficiency solutions.

To date, Tsing Hydrogen Technology has successfully inked contracts exceeding tens of millions of dollars. Meanwhile, the company boasts strategic affiliations with hydrogen energy firms associated with leading automobile manufacturers, positioning it favorably to achieve a remarkable sales target of tens of millions of dollars this year.

Recognizing the contemporary market trend within the catalyst industry, customization has emerged as a prominent feature of customer demand. Tsing Hydrogen Technology is actively establishing multiple production lines capable of accommodating a wide array of customer needs. These production lines remain adaptable, open to enhancements, and optimized to seamlessly align with the diverse requirements of clients.

Looking to the horizon, Tsing Hydrogen Technology is unswerving in its commitment to extending the development of core hydrogen catalytic materials, encompassing mesoporous carbon catalysts and low iridium-based catalysts. The aim is to fashion a new generation of comprehensive solutions for hydrogen energy electrocatalytic materials, thereby solidifying its position as an industry leader in sustainable hydrogen production and technology advancement.