Plastic Omnium and Shenergy Group's subsidiary Rein announced the setting up of a 50/50 joint venture based in Shanghai to manufacture and market type III and IV high-pressure hydrogen storage systems for the commercial vehicle market in China.

Plastic Omnium and Shenergy Group also signed a memorandum of understanding to extend strategic cooperation around building hydrogen eco-systems and contributing to the roadmap for carbon neutrality in China. 

The new joint venture will take full advantage of Plastic Omnium's tech leadership in high-pressure hydrogen vessels, and benefit from Rein’s footprint in the manufacture of hydrogen transportation and storage systems specifically for the Chinese market. 

Plastic Omnium sets up a joint venture with Shenergy Group to accelerate hydrogen development in China.

Fully consolidated in the financial statements of Plastic Omnium, this joint venture covers the setup of production capacities in Shanghai (Jiading district) to serve the growing Chinese market: a pilot production line for type IV high-pressure hydrogen vessels will be in place during 2025, and a new mega-plant with an annual production capacity of up to 60,000 high-pressure hydrogen vessels is scheduled to be operational from 2026 onwards. 

Laurent Favre, Chief Executive Officer of Plastic Omnium, commented, “As a major player in the energy sector, Shenergy Group is a very special partner with an ambitious hydrogen strategic roadmap for China. This partnership therefore takes Plastic Omnium to a new level in the Chinese market for hydrogen powered commercial vehicles.” 

Ni Bin, President of Shenergy Group, added, “The cooperation between us as partners will make a major contribution to progressing hydrogen technology and manufacturing efficiency. As a leading company in China's hydrogen storage and transportation system industry, Rein will work closely with Plastic Omnium to promote the shift towards hydrogen technology.” 

Since 2015, Plastic Omnium has invested more than €300 million to ensure that it has the skills, product portfolio and production capacity in place to cover every link in the hydrogen mobility value chain.