Wedoany.com Report-May 29, China’s major oil and gas enterprise, Sinopec, has launched a new venture capital fund dedicated to hydrogen energy, with an initial capital of 5 billion yuan (approximately USD 690 million). The announcement was made in an official statement on Thursday.

The company logo of China’s Sinopec Corp is displayed at a news conference in Hong Kong, China March 26, 2018.

This fund marks the largest hydrogen-focused investment initiative in China to date. It aims to support early-stage ventures and foster innovation across the entire hydrogen value chain. Target areas include the development and commercialization of key materials, core equipment, and proprietary technologies with significant growth potential.

The fund is operated by Sinopec Private Equity Fund Management Co., a wholly owned subsidiary of Sinopec Capital Co. It also includes external strategic partners such as Shandong New Growth Drivers Fund Management Co. and Yantai Guofeng Investment Holding Group Co., strengthening the fund’s collaborative structure and resource base.

Sinopec stated that the fund's objective is to boost domestic capacity in hydrogen technology, enhance industrial competitiveness, and accelerate the realization of clean energy goals. By investing in a wide spectrum of hydrogen-related technologies, the company seeks to play a leading role in shaping the future of China’s hydrogen economy.

In addition to the new fund, Sinopec has already made significant progress in the hydrogen energy sector. It holds equity positions in 13 companies operating along various segments of the hydrogen industry chain. These companies are involved in areas such as hydrogen production, storage, distribution, and utilization.

The company has also made strides in building supporting infrastructure. It has established 11 hydrogen supply centers catering to fuel cell applications and has constructed 144 hydrogen refueling stations across different regions in China. These developments form part of Sinopec’s broader strategy to promote the use of hydrogen as a low-carbon energy source.

Sinopec’s continued investment highlights the growing importance of hydrogen in China’s long-term energy transition strategy. By combining its industrial expertise with capital investment, Sinopec aims to strengthen the foundation for hydrogen development and contribute to the country's broader clean energy targets.

The new venture capital fund is expected to play a key role in identifying emerging technologies and companies that could shape the next phase of growth in hydrogen energy. Through targeted funding and strategic partnerships, the initiative supports innovation and industrial development in one of the most promising segments of the energy sector.