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China energy major allocates $690m for hydrogen projects

Gas
May 29, 2025

China oil and gas major Sinopec has unveiled a $690m venture capital fund to support early-stage hydrogen investments and technologies.

The fund will be managed by Sinopec Private Equity Fund Management, a wholly owned subsidiary of Sinopec Capital.

The announcement provides further evidence of China’s pre-eminent position in hydrogen and follows $321m of funding from the Chinese finance ministry for regional hydrogen fuel cell vehicle demonstration projects, taking overall funding to $700m in the last three years.

Sinopec recently inaugurated the second phase of its Guangzhou Petrochemical Hydrogen Fuel Cell Supply Center, raising hydrogen production capacity to 15 tonnes daily.

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