Sany Hydrogen Energy Co., Ltd. has completed a series of financing rounds of hundreds of millions of RMB led by Qiming Venture Partners. The financing demonstrates high recognition from the venture capital field of the company's core equipment strength, leading market position, and broad development prospects.

The company will use this financing to comprehensively accelerate innovation and R&D of green hydrogen equipment and upgrade manufacturing capabilities. Sany Hydrogen Energy is committed to implementing its “Quality Leadership” strategy and leading the large-scale application and development of global green hydrogen equipment.

Company Background and Development

Sany Hydrogen Energy was registered and established in August 2022 as a hydrogen energy strategic platform built by Sany Group, the global leader in equipment manufacturing, targeting the “dual-carbon” goal. The company leverages Sany Group's more than 30 years of technological accumulation in construction machinery and energy equipment, supply chain system, and global channels.

The company has introduced large-scale manufacturing capacity at the “lighthouse factory” level, global delivery experience, and lean quality management system into the field of water electrolysis hydrogen production. After three years of development, Sany Hydrogen Energy has become a leading enterprise in green hydrogen equipment, firmly ranking in the first echelon of the industry.

Yuan Dan, chairman of Sany Hydrogen Energy, stated that the global green transformation has accelerated the hydrogen energy industry's movement from demonstration to large-scale application, with technological progress and cost reduction pace accelerating significantly. The company has formed a “3+1” product matrix of circular electrolyzers, square electrolyzers, PEM electrolyzers, and BOP, achieving deliveries in three major scenarios of the chemical industry, metallurgy, and transportation.

Product Portfolio and Technical Capabilities

Since its establishment, Sany Hydrogen Energy has focused on R&D, manufacturing, and overall solution delivery of water electrolysis hydrogen production equipment. Supported by core technologies including structure, electronic control, simulation, materials, and electrochemistry, the company has developed its “3+1” product matrix.

The single-cell electrolyzer model spectrum covers from 200 Nm³/h to 3000 Nm³/h, fully meeting diverse scenario requirements of downstream customers in large-scale wind-solar coupled hydrogen production, hydrogen chemical industry, hydrogen metallurgy, hydrogen transportation, and natural gas hydrogen blending.

The company has successfully transferred Sany Group's large-scale equipment manufacturing capacity, lean quality management, and global delivery experience to the hydrogen energy industry. This has achieved 100% online production plan and quality data, 100% compliance rate of process execution, and shortened the delivery cycle by 30%.

Sany Hydrogen Energy built its own 24MW whole-machine test platform with cumulative test time exceeding 9,000 hours. The company has established a comprehensive performance test database for components, with cumulative testing of over 2,000 groups, cumulative test time exceeding 140,000 hours, and single-component test time reaching up to 10,000 hours.

Its products were the first to pass international authoritative certifications such as CE and ASME, and the square electrolyzer obtained the world's first pressurized certification.

Market Performance and Project Implementation

Sany Hydrogen Energy has made breakthroughs in three major key application scenarios, accelerated the creation of model projects, and promoted green industry upgrades. From January to July 2025, the company won bids for a total of 123MW in benchmark projects of central and state-owned enterprises, ranking among the top in the industry.

In the hydrogen chemical industry, the company offers comprehensive solutions for large-scale green power hydrogen production to customers such as State Power Investment Corporation, China National Coal Group, and Shenzhen Energy Group, driving the transition of traditional chemical industries to green energy. For hydrogen metallurgy, Sany Hydrogen Energy jointly built a hydrogen-based low-carbon metallurgy demonstration project with Hunan Lianyuan Iron and Steel to help the steel industry achieve carbon reduction goals.

In hydrogen transportation, the company built and put into operation the largest “hydrogen production and refueling integrated station” in the country and created the first batch of low-carbon hydrogen demonstration application scenarios in the industrial field in Hunan Province. Currently, Sany Hydrogen Energy's projects cover domestic leading enterprises such as State Power Investment Corporation, China National Coal Group, Shenzhen Energy Group, and PowerChina, and have achieved breakthroughs overseas.

Quality Strategy and Industry Leadership

Facing three core requirements of “safety, stability, and economy” in large-scale green hydrogen application scenarios, Sany Hydrogen Energy conducted an in-depth analysis, identified six significant industry challenges, and carried out special research. The company built a full-process quality assurance system covering management, R&D, manufacturing, and on-site operations to achieve full-life-cycle quality control of products.

Sany Hydrogen Energy adheres to a customer-first orientation, an R&D-driven engine, comprehensive testing as a defense line, leading processes as core, a standard-leading principle, and perfect delivery as practice. The company firmly implements the “Quality Leadership” strategy to produce hydrogen production systems with the highest industry standards and lead high-quality development of green hydrogen equipment.

Chen Nan, executive director of Qiming Venture Partners, said green hydrogen is at a critical window period from policy demonstration to market-driven explosion. Enterprises with large-scale, low-cost, and high-reliability delivery capabilities will be the first to break through. Sany Hydrogen Energy relies on Sany Group's more than 30 years of comprehensive advantages in equipment manufacturing, supply chain integration, channel expansion, and global delivery, positioning in the first echelon of the industry in product definition, process manufacturing, and project delivery.

Zhang Shuai, partner of Yonghua Investment, noted that the development of the hydrogen energy industry has entered a critical stage, with closed-loop business models being key to breakthroughs in both transportation and chemical industries. Relying on Sany Group's advantages in new energy and equipment manufacturing, Sany Hydrogen Energy is expected to form a unique hydrogen energy development model.

Wen Junxiang, deputy general manager of Guangzhou Emerging Fund, stated that the fund has long focused on teams with industrial leadership capabilities in the “dual-carbon” track. Sany Hydrogen Energy's full-chain delivery capabilities, spanning from electrolyzers to systems and overall solutions, have been commercially verified in multiple 100-megawatt-level green hydrogen projects, representing another key milestone in their hydrogen energy track.

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