May 30, China. Sinopec has launched a CNY 5 billion (USD 695.6 million) venture capital fund focused on hydrogen energy.
The fund will invest across the entire hydrogen energy industrial chain, including production, storage, transportation, and applications. It will focus on incubating key materials, core equipment, and original technologies with high growth potential.
Sinopec aims to become China's largest hydrogen energy company, already operating 144 hydrogen refueling stations. The company has invested in companies like Guofu Hydrogen Energy Equipment and Refire Group.