(Yicai) June 4 -- ZYNP, the world's largest manufacturer of cylinder liners, said it will be the sole partner of GKN Hydrogen in China to promote the market development and application of the German firm's solid-state hydrogen storage system.

ZYNP inked a deal with GKN Hydrogen to oversee the marketing of its solid-state hydrogen storage system in China, the Zhengzhou-based company announced late yesterday. The tie-up will further ZYNP's business layout in the hydrogen energy supply chain and help its business transition, it added.

ZYNP's strategic customer resources have laid a sound foundation for the partnership to expand the application of the hydrogen storage system, it pointed out, without disclosing financial details about the deal.

Solid-state hydrogen storage refers to storing hydrogen in certain solid materials relying on their physical and chemical adsorption capacity, which can reversibly absorb or release hydrogen under certain conditions. It has high hydrogen storage volume density, is safer than other hydrogen storage methods, and can be used in peaking power plants, emergency backup power supplies, and hydrogen transportation.

Established in 2021, GKN Hydrogen is part of Dowlais Group, a specialist engineering UK firm focused on the auto sector, ZYNP noted. Its solid-state metal hydrogen storage system has become a leading green, efficient, reliable, and safe hydrogen energy storage solution on the market that can be used in multiple scenarios, it added.

Shares of ZYNP [SHE: 002448] closed 0.6 lower at CNY6.31 (87 US cents) apiece today. The broader Shenzhen market rose 1.1 percent.

Editor: Martin Kadiev