Wuling Hydrogen Energy Company Signs Cooperation Agreement with Zhuzhou High-tech Industrial Development Zone

On October 27, 2021, Wuling Hydrogen Energy Company signed a cooperation agreement with Zhuzhou High-tech Industrial Development Zone on an oil-hydrogen-electricity integrated smart energy project.

The company seized the opportunity of constructing "National Hydrogen Energy Demonstration City" in Zhuzhou City, and actively communicated and coordinated with relevant government departments to maximize the understanding and support from the governments for the emerging hydrogen energy industry, and to increase the government subsidies for oil-hydrogen-electricity projects. With the unremitting efforts of the company, Zhuzhou High-tech Industrial Development Zone finally agreed to grant 70% of the purchase price of the commercial land for the project to the company in the form of industrial reward and subsidy. The signing of the agreement will further reduce the company's investment by nearly RMB20 million for the oil-hydrogen-electricity project on the basis of the original reward & subsidy agreements and preferential policies, and thus lay a solid foundation for the project to be "profitable upon operation".