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59 min ago 2 min read
Chinese battery swapping company U Power is eyeing an expansion into hydrogen power systems and mobility applications in Southeast Asia. with plans to launch a joint venture (JV) later this year.
U Power signed an agreement with hydrogen tech firm Jiangsu Guofu Hydrogen Energy Equipment (Guofuhee) and Hong-Kong-based technology firm Cloud Data Chain (CDC), to form a JV aimed at providing energy management solutions for data centres.
To fund the plans, U Power raised $25.7m by privately selling new shares to investors.
The trio could launch the JV by late October, focusing on hydrogen-based energy solutions for data centres, developing regional hydrogen refuelling, and commercialising hydrogen-powered drones.
U Power – the JV’s prospective majority stakeholder – aims to integrate hydrogen capabilities with its existing technology to support data centre applications.
The Chinese firm currently produces a range of equipment centred around its battery-swapping platform designed to enable battery exchange across compatible vehicle platforms and fleets.
Compatriot electrolyser manufacturer Guofuhee is a global supplier of hydrogen equipment. It recently signed a to supply five hydrogen refuelling stations for installation along the Guangdong–Hong Kong–Macao corridor, amid plans to establish 1GW of electrolyser manufacturing capacity.
CDC offers technology services, including digital infrastructure management.
Johnny Lee, CEO of U Power, said Thailand represents a high-demand market for data centre-focused energy applications.
“We believe this initiative will enable us to play an active role in accelerating the adoption of cleaner energy systems, while contributing to the long-term growth of an emerging industry in Southeast Asia,” he added.
Alternative power solutions are gaining traction in Southeast Asia as worldwide energy disruptions threaten grid outages and demand ramps up with the expansion of energy-intensive digital infrastructure.
Singapore-headquartered Greenlyzer recently with a Cambodian investment and holding company aimed at exploring deployments for its hydrogen-powered microgrid, enabling self-sufficient power production in the region.
