Hy24, the world’s largest investment platform dedicated to low-carbon hydrogen infrastructure, and Shanghai REFIRE Company Limited (HK.2570), a leading developer of hydrogen fuel cell systems, have signed a Memorandum of Understanding (MoU) to establish a strategic partnership aimed at scaling green hydrogen production, distribution, and hydrogen-electric mobility solutions across Europe and beyond.
The partnership will combine Hy24’s global investment and industrial ecosystem with REFIRE’s technical and engineering expertise, creating a powerful collaboration designed to accelerate the commercialisation of bankable hydrogen projects. Together, the two companies will foster industrial synergies between Europe and China, advancing the energy transition through a hybrid Sino-European supply chain and process model.
Under the MoU, Hy24 will leverage its innovative financing strategies, global hydrogen project pipeline, and network of industrial and financial partners, while REFIRE will contribute its turnkey fuel cell technology, integration capabilities, and ecosystem-building experience. The collaboration will focus on scaling hydrogen-electric mobility applications and bridging existing gaps in low-carbon transport infrastructure.
The first phase of joint activities will focus on European markets, where the partners plan to explore deployment opportunities for hydrogen-powered mobility solutions in both public and commercial transport sectors. In parallel, Hy24 and REFIRE will create working groups and launch joint ecosystem initiatives to identify further opportunities for co-development and industrial collaboration globally.
“REFIRE has shown remarkable growth, becoming one of the key global players in hydrogen technologies,” said Pierre-Etienne Franc, Co-founder and CEO of Hy24. “There are strong synergies between European and Chinese hydrogen ecosystems. Together, we can accelerate decarbonisation in mobility and build cross-border value chains to meet the world’s climate goals.”
Robin Lin Qi, Co-founder and CEO of REFIRE, added: “Partnering with Hy24, the world’s leading hydrogen investment manager, is an honour. We share a clear vision — to bring together industry leaders who can drive large-scale decarbonisation, particularly in heavy-duty transport. This collaboration is a major step toward realising that ambition.”
The MoU marks the beginning of a long-term strategic relationship between Hy24 and REFIRE, reinforcing their mutual commitment to accelerating the global hydrogen economy and enabling the transition to zero-emission mobility through innovation, investment, and collaboration.
