GUOFUHEE and Sacotel Znshine entered into a strategic agreement for long-term sales cooperation in the Middle East markets.

Hydrogen economy programs are being actively launched in the Middle East, especially in the GCC countries such as Saudi Arabia, the UAE and Oman which enjoy abundant financial resources, efficient decision-making mechanisms and well-developed infrastructures, making them pioneers in the development of the hydrogen economy.  

At the end of May 2023, the Gulf Cooperation Council Interconnection Authority (GCCIA) and the Electric Power Research Institute (EPRI), an independent, non-profit energy research and development organization, co-hosted the second energy storage forum in Dubai. With the theme of "the Road to the Energy Transition at the COP28", the forum called on global financial institutions to invest in energy storage technologies in support of green and renewable energies, with a strong emphasis on hydrogen energy storage technologies. According to data released by the forum, renewable energy is projected to account for 80% of the world's total energy by 2050, but will require annual investments of approximately $1.5 trillion in energy supply and production through 2035. With more than 1,000 hydrogen energy projects announced worldwide and investment expected to reach $320 billion by 2030, the global hydrogen energy sector continues to gain momentum. 

In view of the tremendous market, Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd., represented by Mr. Wu Pinfang, and Sacotel Znshine, represented by Ms. Joumana Horsi, entered into a long-term sales cooperation strategic agreement on June 21, 2023 in Downtown Dubai. GUOFUHEE engages Sacotel Znshine to develop market in the Middle East and sell electrolyzer systems and other hydrogen energy equipment to Middle East clients and projects to promote the application of renewable energy. The two parties agreed to jointly provide innovative hydrogen energy solutions for the Middle East region and that in the next five years, Sacotel Znshine will help GUOFUHEE to obtain not less than 500 million dollars of orders in the electrolyzer market, and jointly develop the green hydrogen market for win-win cooperation, which will contribute to the energy transition and sustainable development of the region.

The strategic cooperation is of great significance and marks the integration and complementation of the resource advantages of both sides which will join efforts to create a leading edge in the green energy in the Middle East. The two sides are resolved to help cope with climate change and reduce carbon emissions, and respond positively to the call for a global green and low-carbon transition, contributing to the in-depth promotion of the energy revolution and the construction of renewable energy system in the Middle East. The cooperation also represents a solid step of GUOFUHEE towards the goal of becoming an international supplier of high-quality equipment for green hydrogen generation from renewable energy.

About Sacotel Znshine

Sacotel Znshine is a renewable energy and related environmental consulting and product services company with wide connections and rich resources and understands the demand of the renewable energy industry in the Middle East. The company specializes in marketing and sales, and is good at helping clients understand the technology and providing customized solutions to maximize the advantages of products.