06/26
2024
<2023 Green Impact Report> Excellent Enterprise——Baoying Gases
06/26
“In 2021, Asia Green Fund collaborated with Sheng Zhongke, former General Manager of Baosteel Gases, and founded Baoying Gases. The investment aims to establish Baoying Gases as a green benchmark enterprise in the specialty gas industry. Baoying Gases adopts a comprehensive development model, with traditional industrial gases as the foundation and specialty gases as a premium segment. While focusing on business development in the traditional industrial gas sectors, it increases research and development investment in intelligent manufacturing. Additionally, Baoying Gases vigorously develops areas such as hydrogen energy, medical gases, green energy, and energy storage to accelerate the scale development of the hydrogen energy industry and promote the healthy and high-quality development of the domestic hydrogen energy industry.”
Focusing on Technological Innovation inBuilding the Hydrogen Energy Industry Service Chain
With the global demand for clean energy on the rise, hydrogen energy, as an efficient and environmentally friendly form of energy, has garnered widespread attention. Against this backdrop, China's hydrogen energy industry has accelerated its development. As a leading technology company in the industry, Baoying Gases is strategically positioning itself in the field of hydrogen energy. Over the two years since its establishment, Baoying has become the largest hydrogen gas retail supplier in East China, establishing long-term stable partnerships with multiple hydrogen energy users, including hydrogen refueling stations, manufacturers of new energy commercial vehicles, hydrogen fuel cell component enterprises, and chip factories.
Focusing on Technological Innovation inBuilding the Hydrogen Energy Industry Service Chain
With the global demand for clean energy on the rise, hydrogen energy, as an efficient and environmentally friendly form of energy, has garnered widespread attention. Against this backdrop, China's hydrogen energy industry has accelerated its development. As a leading technology company in the industry, Baoying Gases is strategically positioning itself in the field of hydrogen energy. Over the two years since its establishment, Baoying has become the largest hydrogen gas retail supplier in East China, establishing long-term stable partnerships with multiple hydrogen energy users, including hydrogen refueling stations, manufacturers of new energy commercial vehicles, hydrogen fuel cell component enterprises, and chip factories.
Currently, there are mainly two routes for hydrogen production: (1) "Light Green" hydrogen production technologies based on fossil fuels, such as tail hydrogen pressure swing adsorption purification, natural gas decomposition, and coal gasification. Among these technologies, natural gas decomposition has demonstrated the best economic stability. (2) "Deep Green" hydrogen production technologies based on renewable energy sources, such as electrolysis of water and biomass, but none have reached industrial-scale production and sales. Therefore, Baoying Gases firmly chooses to pursue both "Light Green" and "Deep Green" development paths. This decision reflects the company's commitment to environmental protection and its determination to promote the transition to clean energy.
Additionally, Baoying Gases adheres to the belief that technological innovation is the primary productive force. It continues to increase research and development investment in hydrogen production, storage, transportation, utilization, and refueling. This includes: (1) Developing electronic-grade ultra-high-purity hydrogen to meet the process requirements of domestic high-end chip manufacturers, with mass production planned for 2024. (2) Researching and developing integrated technology for 30MPA filling systems, conducting small-scale trials at hydrogen refueling stations and major customers' sites to reduce customers' hydrogen storage and transportation costs. (3) Researching and developing safe and stable, cost-reducing technologies for large-scale ALK alkaline electrolysis hydrogen production routes. (4) Continuously optimizing high-power hydrogen fuel cell durability in hydrogen gas plants, providing external test environments and inexpensive hydrogen sources for fuel cell manufacturers. Compared to traditional coal-based hydrogen production methods, Baoying Gases reduced approximately 40 million kilograms or 40,000 tons of carbon dioxide emissions in 2023 through hydrogen production. Through acquisitions and on-site hydrogen production using SOS technology, Baoying Gases has achieved a design capacity of 10,000 cubic meters/hour at domestic hydrogen production sites, with plans to further increase capacity in 2024 to meet market demand.
Diversified Exploration for Building a Green Industrial Ecosystem
In response to the evolving dynamics of the gas industry, Baoying Gases has proactively prepared itself for the future. Beyond its hydrogen energy ventures, the company has been actively exploring possibilities in synthetic ammonia production and green methanol, among other areas, with investments made in regions like Xinjiang. With a focus on carbon reduction and clean energy, Baoying Gases aims to further expand its footprint in green electricity gases and energy storage gases, driving industry diversification and sustainable development. Baoying Gases remains committed to its path of carbon reduction and clean energy. Leveraging existing green electricity and biomass resources, the company will produce green energy products such as green air separation, green hydrogen, and green methanol.
In the synthetic ammonia project, ammonia is produced by purifying tail gas from methanol production, with an annual output of 100,000 tons to 150,000 tons. Compared to traditional coal-based methods, each ton of synthetic ammonia produced reduces CO2 emissions by 4 tons. Upon completion, the project is expected to annually reduce carbon emissions by 400,000 tons, offering not just economic benefits but also significant positive environmental impact, driving sustainable development in society.
In 2023, Baoying Gases achieved significant economic, environmental, and social benefits under its ESG governance framework. The company not only enhanced the capacity and technological level of its hydrogen energy business but also actively expanded into new markets and diversified business areas, demonstrating a strong sense of social responsibility and innovation spirit. Baoying Gases will continue to uphold the concept of green development, actively exploring new growth opportunities and innovative paths to further contribute to the healthy development of China's hydrogen energy industry and the implementation of the national clean energy strategy. Furthermore, the company will continuously optimize its ESG governance system, continually enhancing its sustainable development capabilities and comprehensive value creation, and working with all sectors of society to build a greener and more sustainable future.