GreenTech in Hong Kong: hydrogen start-up H2 Solution to build city presence as springboard into overseas markets

Hong Kong green-energy start-up H2 Solution, which makes hydrogen fuel-cell systems, is looking to set up its operations in the city’s science and technology park as a springboard into overseas markets.

The firm is holding talks with Hong Kong Science and Technology Park Corp to participate in its incubation programme and become a tenant at its facilities in Pak Shek Kok, managing director Elvin Yi Rong said.

“It is a good place for us to demonstrate successful application cases on which we can develop overseas business,” he said during the Hong Kong GreenTech Summit last week. “The Hong Kong government is paying a lot of attention to hydrogen energy development,” he added, noting that the city’s electrical and engineering standards are aligned with developed markets.

To support its expansion plans, Yi said H2 Solution is aiming to raise at least HK$50 million (US$6.4 million) in its first round of financing from strategic and private investors in the middle of this year. More funding may be needed, depending on the outcome of a venture in Nepal, he added.

“We want to deploy Chinese technology overseas, by packaging it in a way that meets overseas standards,” Yi said. His firm is discussing with the Nepalese government to use its systems to produce green hydrogen and supply renewable energy to regions not served by the nation’s power grids.

For now, the firm has several projects in the pipeline in Hong Kong. It has engaged various government departments to employ its systems to generate electricity for emergency rescue works at country parks, and also supply power to off-grid sites to support community events under Hong Kong’s “Night Vibes” campaign to boost the local economy.