Intron Technology Establishes Subsidiary Focusing on Development for Fuel Cell Green Energy Industry

2021.12.09


(9 December 2021, Hong Kong) – Intron Technology Holdings Limited ("Intron Technology" or the "Group"; HKEX: 1760), a fast-growing automotive electronics solutions provider in China, has recently established a subsidiary 上海氫恒汽車電子有限公司 ("氫恒") in China. The new subsidiary is a spin-off from the Group's fuel cell control business unit and will focus on the development and commercialization of the core electronic control system for hydrogen fuel cells.

The development of the hydrogen energy industry in China is one of the clean energy projects highlighted in the Chinese Government’s national plan. Hydrogen energy is an alternative energy source that is derived from wide sources, clean and carbon free, and has wide application scenarios. It is also considered an ideal interconnection medium that supports large-scale development of renewable energy. Currently, "carbon peak" and "carbon neutrality" have become a global consensus. The Chinese Government has also stressed its target to achieve carbon peak and carbon neutrality by 2030 and 2060 respectively. In the near future, there will be broad market demand for hydrogen fuel cells across the automotive industry in China and possibly around the world.

Focusing development for the business segment, the new subsidiary 氫恒 will provide a wide range of core control units solutions for the fuel cell system to customers. These includes “Fuel Cell Control Units” (FCU), “Air Compressor Control Units” (ACU), “Hydrogen Circulating Pump Control Units" (HCU), DC/DC Converter for Fuel Cell Engines, "Water Pump Control Units” (WPU) and “Extended Fuel Cell Control Units” (XCU). Two of the products of 氫恒, namely “Extended Fuel Cell Control Units” (FCU) and “Air Compressor Control Units” (ACU), have been accredited for mass production from a leading fuel cell system company in China. These products have also passed the stringent EMC Class 3 tests. The product leading functionalities tops national product performance indicators and has strong potential for the international market.

Leveraging Intron Technology's years of excellence in motor control, high-voltage SiC drives, automotive embedded software and functional safety, 氫恒 benefitted with this pioneering technological advantages at its establishment in the industry. For Intron Technology, establishing 氫恒 to focus on the fuel cells industry will optimize asset utilization, improve its research and development (R&D) capabilities and strengthen its industry mapping, complementing the Group's overall strategies and development.

Mr. Luk Wing Ming, Chairman, Co-CEO and Executive Director of Intron Technology, said, “We are very pleased to have established a new subsidiary that focuses on expanding the hydrogen fuel cell business. While ensuring R&D has remained our priority over the years, we have also continued to closely monitor the latest market trends and develop core technologies to build an entire automotive industry chain. We believe 氫恒 will not only help to promote the development of green energy and assist the country in realizing its carbon neutrality goal, but will also reinforce our R&D and technological advantages in the new energy vehicle control sector so as to create continuous growth drivers for our future business development.”

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About Intron Technology Holdings Limited (英恒科技控股有限公司)

Intron Technology Holdings Limited is a fast-growing automotive electronics solutions provider in China focuses on providing solutions targeting critical automotive electronic components applied in New Energy, Automated Driving, Connectivity, Body Control, Safety and Powertrain systems. The Group utilises its research and development and engineering capabilities to provide solutions incorporating advanced semiconductor devices to help OEMs achieve industry leading performance.

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