Recently, the reporter learned from the Management Committee of Tianjin Port Free Trade Zone that Tianjin JustPower Technology Co., Ltd., a key enterprise of hydrogen energy industry in Free Trade Zone, has recently completed the Series A financing with the amount of RMB 47 million. The current round of financing is expected to further boost the expansion of production capacity and R&D capability of New Hydrogen Power, and contribute to the high-quality development of hydrogen energy industry in Tianjin.

   JustPower is a key start-up enterprise in the hydrogen energy industry in Tianjin Port Free Trade Zone. Previously, to support the development of science and technology-based small and micro enterprises, Lingang Ocean Group, a state-owned platform company under Free Trade Zone, actively participated in the formation of JustPower as the initiating shareholder. The Bureau of Science and Industry and the Bureau of Hydrogen Energy of Free Trade Zone have also actively assisted the enterprise to interface with the science and technology guarantee platform affiliated with the Municipal Science and Technology Bureau to provide credit financing guarantee for the enterprise through the means of science and technology finance and to facilitate the development of the enterprise. Since its establishment in 2019, JustPower has achieved leapfrog development, and relied on continuous research and development around its core product hydrogen fuel cell forklifts to make technological breakthroughs such as hydrogen unmanned driving and solid metal hydrogen storage successively, and the related technology has been at the leading level domestically. In 2021, the enterprise received contracts amounting to over RMB 330 million and achieved an output value of RMB 70 million, and in 2022, the contract amount is expected to exceed RMB 400 million.

It is reported that the funds raised in this round will mainly be allocated to the expansion of production capacity and the enhancement of R&D capability in Tianjin Port Free Trade Zone, the construction of 10,000 sets/year of hydrogen fuel cell power system production line, as well as the development of new products such as hydrogen fuel cell 25-ton and 45-ton heavy-duty forklifts and container front-end cranes. In the future, the enterprise will continue to expand financing to establish a research and development center and industrialization base for key components and core materials of fuel cells such as membrane electrodes and catalysts in Free Trade Zone, so as to contribute to building a new highland for the development of hydrogen energy industry in Tianjin.

   In recent years, Tianjin Port Free Trade Zone has laid emphasis on the development of hydrogen energy industry as per the deployment of Tianjin and Binhai New Area, and has initially formed the layout of the overall industry chain of hydrogen production, storage and transportation, fuel cell core components and demonstration applications, and has been enrolled in the Beijing-Tianjin-Hebei fuel cell vehicle demonstration city group on behalf of Binhai New Area. By the stimulation of industrial policies and demonstration applications, a number of leading hydrogen energy enterprises have gathered at the energy resource end, demonstration operation end and core industry end respectively. Next, Free Trade Zone will continue to conscientiously study and implement the spirit of the 12th Congress of Party Representative, further construct the hydrogen energy industry demonstration park in Tianjin, properly demonstrate the application of fuel cell vehicles in Beijing, Tianjin and Hebei, contribute to the realization of the goal of "carbon peak and carbon neutrality", and embrace the victorious convening of the 20th National Congress of the Communist Party of China with tangible development achievements.