China International Development Corporation has signed MOU with Carbontech Asia Pacific
China International Development Corporation has signed MOU with Carbontech Asia Pacific |
| [21-April-2025] |
Aimed at revolutionizing the Australian transportation industry HONG KONG, April 22, 2025 /PRNewswire/ -- China International Development Corporation Limited ("CIDC" or the "Company", together with its subsidiaries, the "Group"; Stock Code: 0264 formed in collaboration with Flex Fuel Hydrogen Development Group Limited ("FFHD") to announce the signing of a Memorandum of Understanding ("MOU") with Star Allianz Capital Pty Ltd, Hon Chu Cheung and Flex Fuel Hydrogen Development Limited to acquire a 51% equity interest in Carbontech Asia Pacific Pty Ltd (the "Carbontech"), aimed at revolutionizing the Australian transportation industry. With the Australian government's new emissions reduction regulations set to take effect in 2025, the demand for effective carbon cleaning technologies has never been greater. These regulations will require transport companies to reduce their carbon footprints and improve fuel efficiency. Under the MOU, CIDC proposes to purchase 51% of the equity interest in Carbontech. Carbontech located in Melbourne, is a leading provider of carbon cleaning technology for automotive engines. It specialize in using hydrogen-based and chemical additive technologies sourced from Flex Fuel, a French hydrogen manufacturing company. To be the national and international market leader in carbon reduction solutions Carbontech is poised to revolutionize engine decarbonization in Australia. In the short term, the company will establish a strong presence in Melbourne and major cities, educating transportation companies and aiming for top recognition in the Australian market. They will also introduce hydrogen and chemical additive technology to at least 100 Melbourne clients. Over the medium term, expansion across all Australian states is planned, along with renting decarbonization machines to repair centers and introducing regular chemical additive sales, supported by mobile service units. The long-term vision is to become the market leader nationally and internationally, building a vast partner network and maintaining technological leadership through continuous R&D in carbon reduction solutions. By leveraging cutting-edge hydrogen-based and chemical additive technologies, CarbonTech is set to reduce carbon build-up in engines, improve fuel efficiency, and reduce harmful emissions, ultimately enhancing the performance and longevity of automotive parts. Future Prospects Carbontech commented, "Our company is uniquely positioned to take advantage of the growing demand for engine decarbonization solutions in Australia. By leveraging cutting-edge technology from Flex Fuel, we can offer businesses and individuals the tools they need to reduce emissions, improve fuel efficiency, and extend the life of their vehicles. With a clear strategy for expansion and a strong commitment to customer satisfaction, we aim to become the leading provider of engine decarbonization services and products in Australia." CIDC commented, "We're pleased to announce our acquisition of Carbontech, marking our entry into the Australian market. This follows the successful reorganization of our JV subsidiary in Shenzhen, which has deployed over 60 hydrogen decarbonizing and cleaning stations have been imported and installed in over 20 locations in China since March. By leveraging Carbontech's local presence, we will introduce our proven hydrogen injection cleaning technology to help Australian transportation companies reduce emissions, improve fuel efficiency, and extend vehicle lifespan, contributing to a greener Australia." About Flex Fuel Hydrogen Development (Shenzhen) Co., Ltd The Group and Flex Fuel Hydrogen Development Group Limited was set up a JV company named Flex Fuel Eco Company Limited. By the way of reorganization, the JV company became the holding company of Flex Fuel Hydrogen Development (Shenzhen) Co., Ltd (FFSZ). FFSZ is the exclusive sales and production authorisation of Flex Fuel Energy Development (Base in France founded in 2009, one of the French technology 120 index companies) Products in Asia-Pacific. The engine hydrogen maintenance equipment has been officially certified by the French Railways Agency, the Oceanic Agency, the Ministry of Environmental Protection and other official safety certifications. At present, the group is engaged in hydrogen research and development and production equipment, providing a full range of energy solutions, applying its equipment and the hydrogen produced according to customer needs, so as to reduce costs, meet the world trend, apply renewable energy, directly reduce emissions and save energy, and meet the requirements of commercial ESG.
SOURCE FlexFuel Hydrogen Development (Shenzhen) (FFHD) | ||
Company Codes: HongKong:0264 |
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