(Yicai Global) Sept. 19 -- Shanxi Meijin Energy Co. [SHE:000723] will invest CNY100 million (USD15.2 million) to set up a wholly-owned subsidiary engaged in hydrogen energy industrial chain development at the Shanxi Transformation and Comprehensive Reform Demonstration Area.

The new firm will lead technical development and commercialization of mature projects in hydrogen energy, such as fuel cells, fuel-cell cars and distributed energy, the firm said in a statement on Sept. 18.

The announcement didn't give any further details.

Meijin Energy is a large-scale coal and coke company and generates high hydrogen content in its coke oven gas. The low-cost hydrogen produced annually at Meijin and nearby coke-making companies is enough to support the daily demands of nearly 10,000 hydrogen-cell trucks for a year, the firm said.