(Yicai Global) Sept. 24 -- Chinese natural gas equipment manufacturer Chengdu Huaqi Houpu Holding Co. [SHE:300471] reached a strategic cooperation with the Wuhan Institute of Geological Resources and Environment Industrial Technology Research Co. to achieve strategic cooperation to promote the application projects of hydrogen-fueled cell vehicles.

The pair signed a cooperation agreement in Chengdu yesterday, and the Sichuan-based firm said they will introduce a third party with advanced technology to jointly develop automotive hydrogenation station equipment and to reduce the production, storage and transportation costs of hydrogen.

In the cooperation plan, Chengdu Huaqi Houpu is responsible for the screening and industrialization of hydrogenation station technology and the institute is in charge of developing hydrogen energy logistics vehicles, buses and passenger cars, and providing corresponding data for calculating the demand for hydrogenation stations.

The institute is a joint venture that the China University of Geosciences and the Wuhan municipal government of Hubei province set up. It is committed to establishing science and technology innovation, and is focusing on the hydrogen vehicle industry.

Chengdu Huaqi Houpu's main business is natural gas vehicle filling station equipment manufacturing, and the state recognizes it as a high-tech enterprise. It has obtained 74 patents and 33 software copyrights.