On August 3, 2023, Mr. Wu Pinfang, Chairman of Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. ("GUOFUHEE"), Ryan Wong, CEO of Evvo Labs, and Goh Lay Poh, representative of Xindongxin Corporate Management Company, signed the Hydrogen Energy Project Strategic Cooperation Agreement at Hilton Singapore Orchard. According to the agreement, the three parties will jointly invest and establish a joint venture company in Singapore to build a new pattern of market development in Southeast Asia by relying on GUOFUHEE's technological advantages in the hydrogen industry chain. Based on the local market of Singapore, the joint venture will lead the development of hydrogen energy projects in Malaysia, Vietnam, the Philippines, Indonesia and other ASEAN countries.

Hydrogen energy, as an abundant, green, low-carbon and widely used secondary energy source, is gradually becoming one of the major carriers of the global energy transition. At the Singapore International Energy Week 2022, Lawrence Wong, the Deputy Prime Minister and Minister for Finance of Singapore announced the launch of Singapore's National Hydrogen Strategy, which will develop hydrogen energy as a key decarbonization pathway in support of Singapore's international climate commitment to achieve net zero emissions by 2050. The Strategy sets out to develop low-carbon hydrogen as a key decarbonization route to support Singapore's accelerated transition to net-zero emissions by 2050, while enhancing Singapore's energy security and resilience. 

The 70Mpa HRS by GUOFUHEE in Kuching, Sarawak, Malaysia

As a major economic and innovation hub in Southeast Asia, Singapore is committed to promoting sustainable development and green energy cooperation. Through this partnership, GUOFUHEE, Evvo Labs and Xindongxin Corporate Management Company have made significant strides in the hydrogen energy sector, bringing more opportunities and innovations to the hydrogen energy industry in Southeast Asia, and promoted the broad application of hydrogen technology in transportation, industry and energy in Singapore and Southeast Asia, and also further enhanced energy diversification and sustainable development in Southeast Asia, making an important contribution to a cleaner, low-carbon future.