Hydrexia Holding Limited (Hydrexia), a leading integrated H₂ solution provider in China and Lestari H2GaaS Sdn Bhd (LHSB), a renewable energy and H₂ technology commercialization arm of Petroliam Nasional Berhad (PETRONAS) in Malaysia today announced that the two companies have entered into a technology collaboration and commercialization agreement (TCCA) to leverage the technological and market strengths of each other to better serve the H₂ development needs in Sarawak, Malaysia.

Under the framework of TCCA, both companies set forth key cooperation initiatives which include joint technical collaboration and commercialization of H₂ application technology in a phased approach. The planned technical collaboration will focus on H₂ applications in the areas of purification, storage and transportation, and refueling station. Both companies will jointly explore H₂ application project opportunities to meet the local H₂ development needs by integrating Hydrexia's H₂ technology products across the H₂ industry value chain.

This newly-formed partnership marks an important milestone for Hydrexia's business expansion in Southeast Asia with continued success. Meanwhile, it also reinforces the strong commitment of Hydrexia to serve the growing H₂ business needs in the region by collaborating with local partners.

"We are excited about forming this strategic partnership with LHSB. It not only further expands the scale of our business expansion in Southeast Asia, but also adds significant depth in our local business operation in this region," said George Gan, the Chief Executive Officer of Hydrexia Southeast Asia. "The collaboration with LHSB enables us to best utilize our H₂ technology solutions to serve the needs of our customers in Malaysia. We look forward to expanding the cooperation with LHSB going forward."

"We are happy to have chosen Hydrexia as our important technology and commercial partner," said Colin Patrick, the Chief Executive Officer of LHSB. "Our decision to go with Hydrexia is based on its strong overall technology capability as well as its commitment to developing the local H₂ market in Malaysia. I am confident about the prospects of this partnership," Colin continued. "Through this TCCA, we commit ourselves to fostering innovation, driving sustainable practices, and making significant strides towards a net carbon zero future. The H₂ projects we are embarking upon will not only contribute to decarbonizing industries but also open new possibilities in transportation, energy storage, and beyond within this region."

The optimal combination of technology and market advantages achieved through this collaboration will enable both companies to fully address the needs for green energy in the Sarawak region in Malaysia. Hydrexia is fully committed to developing this new partnership both technologically and operationally.