Hydrexia and Lestari ink strategic agreement to spearhead hydrogen development in Malaysia

Hydrexia Holdings Ltd (Hydrexia) a China-based integrated hydrogen solution provider has entered a strategic partnership with Lestari H2GaaS Sdn Bhd (LHSB), the renewable energy and hydrogen technology commercialization arm of Petroliam Nasional Berhad (PETRONAS) the national oil and gas company of Malaysia for hydrogen development in the country.

Hydrexia announced it has entered a Technology Collaboration and Commercialization Agreement (TCCA) with Lestari which will solidify their technological and market strengths and help better serve the hydrogen development needs in the Sarawak region in Malaysia.

"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, CEO of Hydrexia Southeast Asia.

"The collaboration with LHSB enables us to best utilize our hydrogen technology solutions to serve the needs of our customers in Malaysia. We look forward to expanding the cooperation with LHSB going forward," Gan added.

As part of the TCCA, the two companies will undertake key cooperation initiatives that will include joint technical collaboration and commercialization of hydrogen application technology in a phased approach. The technical collaboration will focus on hydrogen applications in the areas of purification, storage and transportation, and refueling stations. Further, the partners will explore hydrogen application project opportunities to meet the local hydrogen development needs by integrating Hydrexia's hydrogen technology products across the hydrogen industry value chain.

"We are happy to have chosen Hydrexia as our important technology and commercial partner," said Colin Patrick, CEO 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 hydrogen market in Malaysia. I am confident about the prospects of this partnership, he added.

The hydrogen projects under the newly forged partnership are expected to contribute to decarbonizing industries and open up many more opportunities in hydrogen transportation, and energy storage, to meet the green energy needs of the Sarawak region and beyond.