Hong Kong’s Energy Transition Accelerates! CIMC ENRIC and Towngas Signed a Strategic Partnership Agreement

On July 28, CIMC ENRIC and The Hong Kong and China Gas Company Limited (hereinafter referred to as “Towngas”) signed a strategic partnership agreement to jointly develop green methanol and hydrogen energy, advancing Hong Kong’s green energy transition and contributing to the realization of the country’s dual carbon goals.

Yang Xiaohu, Executive Director and President of CIMC ENRIC, and Peter Wong Wai-yee, Chief Executive Officer of Towngas, attended the signing ceremony as witnesses.

In the green methanol sector, CIMC Green Energy Low-Carbon Technology (Guangdong) Co., Ltd. and CIMC ENRIC Engineering Technology Co., Ltd., both being CIMC ENRIC’s subsidiaries, have entered into a strategic partnership agreement with Guangdong Zhenwei Green Source Investment Co., Ltd., a joint venture of Towngas.

The partnership primarily focuses on strengthening collaboration in technical cooperation and engineering services for green methanol, as well as industry standards and carbon trading compliance. Both parties will harness Hong Kong's position as an international hub to jointly explore new technological applications and promote green methanol adoption, contributing to the establishment of carbon market rules in Hong Kong that align with international standards and enhancing global discourse power in green energy.

CIMC Enric’s green methanol plant located in Zhanjiang, Guangdong, is expected to commence production in the fourth quarter of this year, with an initial annual capacity of 50,000 tons, which will be expanded to 200,000 tons by 2027.

In the field of hydrogen energy, both parties will leverage Towngas’s hydrogen-rich gas resources to jointly develop advanced hydrogen extraction and storage technologies, explore utilization models for low-carbon and renewable energy, expand hydrogen applications in transport, electric vehicle charging infrastructure and other sectors, and promote in-depth collaboration on zero-carbon scenarios.

Towngas is one of the largest energy suppliers in Hong Kong, operating an extensive underground pipeline network spanning 3,700 kilometers across the territory. In response to the global carbon neutrality trend, Towngas is accelerating its transition towards green energy and actively exploring clean energy alternatives.