Weichai Power will acquire 49% of Swiss fuel cell air compressor company -- Zhejiang Shanhai Machinery Co., LTD

In February 2021, Shandong Provincial Development and Reform Commission put on record Weichai Power Co.,Ltd. 's acquisition of 49% equity of Swiss Fast Speed Fuel Cell Air Compressor Co.,Ltd. At the end of 2020, Weichai Issued the 2020 non-public offering A share plan. Weichai is expected to raise no more than 130,000.00 yuan (13 billion yuan) through a non-public offering, and the plan has received approval from the State-owned Assets Supervision and Administration Commission of Shandong Province.

Among them, fuel cell industry chain construction projects include: hydrogen fuel cell and key parts industrialization project, with a total investment of 712 million yuan and planned to raise 500 million yuan; Solid oxide fuel cell and key parts industrialization project, total investment of 1.513 billion yuan, planned to use the raised fund of 500 million yuan; The fuel cell powertrain core parts R & D and manufacturing capacity construction project, with a total investment of 1.479 billion yuan, plans to use the raised fund of 1 billion yuan.

February 24, according to the response of the investor interactive platform, in order to support the new energy strategy to accelerate the landing, Weichai Power continues to increase investment in RESEARCH and development, and constantly improve the research and development capacity and technical level, has fully completed the core technology layout of hydrogen fuel cell, key technical indicators in a leading position.

Source: Polaris hydrogen energy network -- air compressor network

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